Building Bigfoot

Building Bigfoot

by Jonathan Whiting
Entrepreneurship

27: Mindset Mastery: Unleashing the Power of Intentionality for Business Growth and a Fulfilling Life with Jonathan Whiting

In this podcast episode, host Jonathan Whiting discusses the significance of mindset and intentionality in business growth and personal development. He highlights the impact of mindset on outcomes and encourages listeners to be mindful of his thoughts and actions. Jonathan shares personal experiences and scientific studies to support their points, touching on topics like neurogenesis and consciousness. He also draws parallels between business growth and professional sports, emphasizing the power of belief and practice. What He Talks About: (00:00:00) How mindset affects outcomes and emphasizes the need to be intentional in personal and business development. (00:02:22) An example of a real estate agent who achieved success by having a positive mindset and putting in the work during a traditionally slow season. (00:06:32) Achieving anything is often preceded by being hungry for success, humble to learn, and smart in understanding one's impact. (00:10:25) The impact of mindset and intentionality on personal growth and sharing their own experiences and examples. (00:11:17) A hypothesis that intelligence is something that can be developed and improved, regardless of the starting point. (00:14:21) The discovery of neurogenesis and its potential for brain regeneration, as well as the relationship between microtubules and consciousness. (00:20:40) The impact of mindset on outcomes and personal development, using an example of brain transformation through mindfulness practices. (00:21:50) The brain's response to frustration when learning something new. (00:23:43) Jonathan shares the story of the New Zealand All Blacks rugby team and how their belief in themselves contributed to their success, highlighting the importance of belief in achieving goals. Studies Mentioned: Neurogenesis In Adult Brains Adult hippocampal neurogenesis is abundant in neurologically healthy subjects and drops sharply in patients with Alzheimer’s disease. Moreno-Jiménez, E.P., Flor-García, M., Terreros-Roncal, J. et al. Adult hippocampal neurogenesis is abundant in neurologically healthy subjects and drops sharply in patients with Alzheimer’s disease. Nat Med 25, 554–560 (2019). Learn More IQ and Effects of Motivation: Effort impacts IQ test scores in a minor way: A multi-study investigation with healthy adult volunteers. Timothy C. Bates, Gilles E. Gignac. Effort impacts IQ test scores in a minor way: A multi-study investigation with healthy adult volunteers, Intelligence, Volume 92, 2022, 101652, ISSN 0160-2896 Learn More Growth Mindset Study in Children Yeager, D. S., Hanselman, P., Walton, G. M., Murray, J. S., Crosnoe, R., Muller, C., … Dweck, C. S. (2019). A national experiment reveals where a growth mindset improves achievement. Nature, 573, 364–369. Learn More Video: BBC Report Rewires Brain in 6 Weeks Recommended Reading: Canning, E. A., Muenks, K., Green, D. J., & Murphy, M. C. (2019). STEM faculty who believe ability is fixed have larger racial achievement gaps and inspire less student motivation in their classes. Science Advances, 5(2), Article eaau4734 Moser, J. S., Schroder, H. S., Heeter, C., Moran, T. P., & Lee, Y.-H. (2011). Mind your errors: Evidence for a neural mechanism linking growth mindset to adaptive post-error adjustments. Psychological Science, 22, 1484–1489. Learn More Paunesku, D., Walton, G. M., Romero, C., Smith, E. N., Yeager, D. S., & Dweck, C. S. (2015). Mind-set interventions are a scalable treatment for academic underachievement. Psychological Science, 26, 784–793. Learn More
E27
Nov 13, 2023
25:34

26: Scott Dedels ON: The Power of Bitcoin For Businesses

In this podcast episode, Scott Dedels, founder of Block Rewards, discusses the potential of Bitcoin as a unique tool for employee compensation and reward strategies. He explains how Bitcoin can help individuals escape centralized financial systems, preserve purchasing power in an inflationary environment, and differentiate a company's total reward strategy. He emphasizes the need for education about Bitcoin due to its volatility and risks. He also compares the adoption of Bitcoin in the workplace to the integration of email and believes that Bitcoin will become as ubiquitous. The podcast also touches on the importance of financial freedom, the auditable nature of blockchain technology, and the potential benefits of Bitcoin for businesses. Scott Dedels has 15 years of experience working in the employee benefits and pension industry. After understanding the significance of Bitcoin in 2020, Scott realized this innovation would inevitably come to employers through compensation, benefits, and retirement planning. He is a passionate financial services educator and the author of Bitcoin for Financial Advisors. What We Discuss: [00:00:00] Bitcoin's unique features make it the gold standard in cryptocurrencies, with no central control and a decentralized network. [00:00:27] Scott introduces himself and his company, Block Rewards, which helps Canadian companies incorporate Bitcoin into their compensation and reward strategies. [00:02:19] Bitcoin offers a unique opportunity for employers to attract and retain top talent by incorporating it into their compensation and savings plans. [00:11:50] Bitcoin's hardness and its ability to maintain its value due to its limited supply. [00:13:57] The current debt-based monetary system and its impact on inflation and government debt. [00:16:15] Bitcoin as an alternative system for saving money that is not subject to inflation and government control. [00:23:09] The natural fluctuations in the Bitcoin market due to its expanding size and the potential impact of large investments or withdrawals. [00:24:13] The comparison between Bitcoin and real estate in terms of scarcity and long-term investment potential. [00:30:51] The importance of individuals having their own wallets and being responsible for the custody and storage of their Bitcoin, along with the services provided to help educate and support users in this aspect. [00:34:14] Bitcoin offers better settlement times, lower fees, and no chargebacks for merchants, making it an attractive payment option. [00:36:04] Bitcoin provides an opportunity for individuals to protect their wealth from inflation and offers a strategy for saving money that will become more valuable over time. [00:45:46] The importance of financial freedom and the ability to voice opinions without fear of financial repercussions. [00:50:29] How businesses can benefit from owning Bitcoin as a corporate asset and its advantages over traditional investments. [00:54:00] The diffusion of innovation curve and how Bitcoin is reaching the point of mass adoption, potentially leading to significant market growth. [00:57:21] The auditable nature of blockchain technology and how it reveals the movement and consolidation of Bitcoin over time. [00:58:45] How Bitcoin can be leveraged as a tool to help businesses excel and the mission of Block Rewards to assist decision-makers and entrepreneurs in understanding its benefits. Episode Resources: Block Rewards | Website Block Rewards | Instagram Block Rewards | Tiktok Scott Dedels | Twitter
E26
Nov 6, 2023
1:00:15

25: Todd Embley ON: How to Scale Your Business

In this podcast episode, Jonathan interviews Todd Embley, a tech VC, business mentor, and investor in real estate. Todd shares his journey from working in the tech industry in China to taking over a windows and doors business in Vernon. He discusses the challenges he faced during the transition, the importance of customer service, and his long-term goals for his business. Todd discusses the important aspects of business that are often overlooked, and shares his approach to pro bono work and the challenges of scaling a business while maintaining its culture. Todd Embley spends his time mentoring early-stage entrepreneurs and startups and believes the path to success is in the approach and having the right "entrephilosophy". Over the years, his experience has taught him a great deal about managing cultural differences, the philosophy behind success and failure, and how much he loves building a strong startup community that should be led by entrepreneurs, for entrepreneurs. His latest podcast, The Negotiation, is designed to bridge the cultural divide between the West and East through interviews with China and APAC region experts to help improve and drive successful cross-border business. His superpower is people and relationships. When he mentors he focuses on building the people who are building companies, rather than helping them build their companies. It's not about what you're building, it's why and how you build it that leads to success. Todd has also become deeply passionate about mental health, having recently been diagnosed with ADHD. He says the issue of mental health cannot be overstated, and he will always jump at the opportunity to take action towards helping reduce the stigma. What We Discuss: [00:02:37] Todd discusses his time in China, starting tech companies and experiencing the growth of the internet. [00:11:44] The importance of customer service and the difficulties of hiring in the trades industry. [00:12:52] How Todd and his wife brought their business and tech background to improve an old windows and doors business. [00:13:48] The need to build a sustainable business model and the importance of understanding how to run a business in order to support the team and scale the company. [00:22:56] The benefits of owning a building for a business and the potential financial advantages it brings. [00:25:52] Examples of successful businesses that attribute their success to owning their own real estate. [00:27:58] Building a strong team and surrounding oneself with high-end professionals in order to achieve business success. [00:35:45] The significance of customer reviews and feedback, offering incentives for reviews, and learning from customer dissatisfaction to improve. [00:42:37] Being customer-obsessed, addressing small jobs, and maintaining a culture of integrity and fair pricing. [00:44:16] The importance of doing pro bono work. [00:47:20] The qualities and characteristics that contribute to becoming an entrepreneur. [00:50:24] Advice on staying the course, investing in oneself and finding the right partner in life and business. [00:54:59] The experience of running a difficult race and how it can lead to personal growth and confronting internal issues. [00:57:35] The importance of investing in skills, embracing uncomfortable situations, and finding solace and confidence in tackling challenges. [00:59:38] Emphasis on the role of gratitude in finding happiness, overcoming difficult times, and appreciating the moments of joy in life. Episode Resources: Website | WPIC Todd Embley | Twitter
E25
Oct 30, 2023
1:04:59

24: Brad Redding ON: Why Branding Is SO Important During Early Stages of Business

In this podcast episode, Jonathan interviews Brad Redding, Co-Founder and CEO of Elevar. During this insightful conversion about business growth, Brad shares some important lessons with listeners including his entrepreneurial journey and his successes and failures in the business world. He teaches why it's important to build a strong brand in order to make money, discusses goal-setting, how to stay updated with industry changes and overcoming the challenges of tracking ROI in advertising. Brad reflects on his journey and shares what he would tell his younger self to focus on. What We Discuss: [00:00:00] Brad discusses how focusing on finding a problem, getting mentors, and following through from ages 20 to 30 can set oneself up for a successful life. [00:00:24] Jonathan introduces Brad and his company Elevar, which focuses on server-side conversion tracking for e-commerce brands. [00:01:23] Brad shares his background, including his previous SaaS business and agency work, as well as his personal interests in health, fitness, and family. [00:11:02] Brad discusses how the concept of Elevar and the importance of money and branding came about during the early stages of the business. [00:12:21] Looking ahead, setting goals, and living in the future will increase the likelihood of success in business. [00:17:37] Brad explains how his team manages the quality of the Elevar brand by developing a distinct voice, focusing on education and inspiration, and prioritizing customer support and success. [00:23:09] The significance of listening to customers and extracting data from support tickets, demos, and sign-ups to understand their needs and goals. [00:24:20] The difficulties in tracking return on investment (ROI) in advertising due to privacy concerns and competition among tech giants. [00:26:19] Exploring the potential drawbacks of internet regulations, such as GDPR and CCPA, and the presence of malicious actors in the tracking industry. [00:33:27] Automating data analysis to save customers time and allow them to focus on strategy and optimization. [00:34:25] Brad talks about how he met his co-founders through personal networks and how they are still involved in the company in different capacities. [00:36:29] Brad shares his thoughts on the market potential and how they plan to expand their offerings and add firepower to their brand. [00:45:13] Managing the expectations of quick success and emphasis on the need to think in terms of decades, not weeks or months. [00:45:56] Jonathan mentions Steve Jobs' quote about every overnight success having a ten-year backstory, highlighting the idea that success takes time and persistence. [00:46:22] Jonathan reflects on the journey of entrepreneurship and how the little things along the way contribute to the overall success and fulfillment in life. Episode Resources: Elevar | Website Brad Redding | Instagram Brad Redding | LinkedIn Conversion Tracking Playbook | Podcast
E24
Sep 25, 2023
46:55

23: Lowell Rempel ON: 12 Strategies To Scale Your Business

In this podcast episode, Jonathan sits down with Lowell Rempel, an entrepreneur and digital marketing expert. Lowell shares his insights on various topics related to business and customer experience. He discusses his background, his passion for building and growing businesses, and the importance of creating a great customer experience. There is a need to think outside the box, understand customer needs, and differentiate your business from your competitors. He also talks about his personal journey as a parent and the challenges he faced. Throughout the conversation, the two highlight the importance of self-reflection, continuous learning, and building strong relationships in business. Successful entrepreneur, founder, marketer and CTO. Lowell has built, grown and acquired multiple companies such as Dropified. What We Discuss: [00:01:12] Lowell shares his entrepreneurial journey. [00:06:41] How to create a fantastic customer experience and the importance of data and numbers in understanding customer needs and uncovering opportunities. [00:08:34] Cautioning about a common business mistake: adding features without asking customers if they actually need or want them. [00:10:24] Sharing an example of how a unique business model can disrupt an industry. [00:17:13] Discussion on the effectiveness of clear and simple ads compared to overly clever or complex ones. [00:21:12] Lowell's childhood experience of starting his own window washing business and facing competition at a young age. [00:23:52] Lowell's journey from working in management at Coca-Cola to starting his own chain of stores selling hot tubs, pool tables and more. [00:25:48] Lowell shares his daughter's health challenges, including three open heart surgeries before the age of two, and how she is doing now. [00:28:14] Lowell shares his approach to parenting and handling the challenges of raising three different children with different personalities and emotions. [00:33:38] Exploring the benefits of having time alone for creative thinking and problem-solving. [00:34:15] Discussing the difficulties of juggling multiple jobs and the potential for burnout. [00:35:56] Examining the impact of self-limiting beliefs and the importance of challenging them to achieve success. [00:41:48] Understanding the need for personal time to reflect, strategize, and decompress, which allows entrepreneurs to build relationships and delegate tasks to their team. [00:43:43] What is the main thing that impacts the outcome of entrepreneurial endeavours? [00:46:26] One essential strategy for generating new ideas, problem-solving, and achieving success in business. [00:58:53] How to create a great customer experience and how it can solve conversion problems and improve business performance. [01:12:56] How to learn from money management mistakes and grow as an entrepreneur. [01:16:10] How to delegate tasks effectively, and the negative consequences of abdicating responsibilities. [01:24:42] Why personal growth is so important for promotions and hiring decisions. [01:25:46] Acknowledgment that not everyone wants to constantly grow and change, and the need to create a positive work experience for them. [01:26:41] Lowell shares that the best way to reach out to him is through LinkedIn, and mentions his expertise in helping existing companies change and improve. Episode Resources: Lowell Rempel | LinkedIn
E23
Sep 18, 2023
1:28:51

22: The Most Effective Strategies For Growing Your Business with Lance Schafer

In this podcast episode, Lance Schafer and Jonathan discuss Lance's experience in the tech scene, the differences between Canadian and American cultures, and the growth and hiring strategies of Lotlinx, a company Lance was involved with. Lance shares his approach to goal-setting using RPMs (Result, Purpose, and Massive Action) and highlights the importance of culture fit in hiring. They also delve into topics such as technical debt, scalability of sales channels, and customer-centric development. Lance emphasizes the need to stay ahead of market trends and prioritize long-term benefits. Portfolio entrepreneur, tech leader, and mentor. Lance Schafer has started, grown and sold multiple companies. Founding the national auto trading brand LemonFree and today GM at LotLinx. With more than two decades of experience as an Entrepreneur in digital media, business management, and start-ups, Lance has a true passion for disruptive technology that is results-oriented. In his role as a mentor and as a Senior Leader, he's helped companies cut through the clutter and jargon that surrounds digital media delivering substantial results that are innovative, repeatable, and highly successful. What We Discuss: [00:00:00] Lance discusses the concept of RPMS (Result, Purpose, Massive Action) and its origin from a Tony Robbins conference. [00:01:05] Discussion about the differences in risk-taking and willingness to fail between US and Canadian tech cultures. [00:08:37] Lance shares his experience with slow hiring in the past and the shift to hiring quickly and embracing a growth mindset at Lotlinx. [00:10:48] Discussion on the importance of cultural fit when hiring and how it affects both the company and the individual. [00:16:11] Talking about the tension between speed and accuracy in a development environment and how it is addressed in their company. [00:20:47] Sharing about their experience with scaling up a company and the difficulties in finding talent that understands the unique challenges of a scale-up environment. [00:21:51] Discussion on the market trends and challenges related to tracking data attribution in the tech industry. [00:23:00] Exploration of the difficulties in scaling up a company and the need for efficient hiring and execution strategies. [00:31:00] Insights into the ongoing efforts to develop and nurture sales channels in the automotive industry, given its vast size and potential for growth. [00:32:24] Discussion on the misconceptions around technical debt and how code complexity and familiarity play a role. [00:36:37] Exploring the definition of tech debt and its impact on the organization, including the challenge of identifying what constitutes tech debt. [00:41:34] Examining the bias of new CMOs towards their preferred marketing stack and the potential impact on the company's technology infrastructure. [00:43:12] Discussion on the significance of having a reliable tech stack and the challenges of migrating to a new one. [00:47:11] Analogous to the real estate world, the conversation explores the trend of switching to different CRMs and the challenges it poses for companies. [00:51:53] The concept of RPMs (Result, Purpose, Massive Action) is introduced as a method for setting goals and aligning efforts towards achieving desired outcomes. [00:53:14] Lance discusses the significance of setting goals and understanding why they matter in order to prioritize actions effectively. [00:54:31] Talking about the challenge of deciding what not to do, as there are more things that one can't do compared to what they can do. [00:55:21] Lance emphasizes the importance of purpose in driving goals, stating that goals are indications of living one's purpose and connecting to it. Episode Resources: Website | Lotlinx
E22
Sep 11, 2023
59:09

21: Robert Ducharme ON: Navigating The Ups and Downs of Entrepreneurship

In this podcast episode, Jonathan interviews entrepreneur Robert Ducharme about his company, Routezilla. They talk about the continuous nature of entrepreneurship and the most important person that influenced Robert's path. They emphasize the power of mindset and gratitude in overcoming challenges and achieving success. They also delve into Robert's experiences starting and growing businesses, including how he navigated his landscaping company during the 2008 economic downturn. They discuss the transformation of Routezilla into a tech company and their partnership with Google. Robert Ducharme is the founder of several successful start ups. He is the Founder/CEO of Routezilla, a tech company serving the likes of Tesla. They've partnered with Google to increase appointments from Google business profiles. What We Discuss: [00:03:07] Robert shares his upbringing in an entrepreneurial family, and tells us about a significant individual who influenced his entrepreneurial path. [00:10:23] The impact of pre-framing on cortisol levels and testosterone, and how it affects mental psyche. [00:11:21] The role of gratitude in shifting from struggle to empowerment and attracting goodness and opportunities. [00:13:09] Robert talks about his Father's influence, embracing challenges, and the mindset that leads to opportunities and holy moments. [00:21:25] The two discuss the challenges and motivations of being an entrepreneur. [00:25:22] Robert shares how he stumbled into the landscaping business and how it quickly grew into a thriving enterprise. [00:30:11] Robert talks about the challenges his business faced during the global economic collapse in 2008 and the changes it brought to his personal life. [00:32:12] Exploration of bidding on government tenders and taking over an irrigation service department as recession-proof business ideas. [00:35:27] The decision to automate the business processes and the development of a software solution to make the business profitable. [00:42:13] Robert and John discuss the pivotal moment when their booking system started generating a high volume of appointments, and how they turned it into a tech company. [00:48:51] Robert talks about the unexpected partnership with Tesla and how their booking system revolutionized the way Tesla handles appointments. [00:53:52] Discussion on how failure is seen as a pathway to success in Silicon Valley and the importance of embracing failure in entrepreneurship. [00:56:46] Exploration of the mindset shift in Silicon Valley where ideas are evaluated based on their potential to become billion-dollar businesses and the importance of not giving up. [00:58:17] Comparison of the default response of skepticism in Canada towards entrepreneurial ideas and the more collaborative and optimistic approach in Silicon Valley. [01:07:20] Robert talks about his experience meeting with British Telecom and Gannett, two big companies, and the challenges he faced in trying to secure deals with them. [01:11:27] Robert emphasizes the importance of pushing through and finishing what you have to say, even when faced with challenges or skepticism. [01:13:43] Marcel from SAS Academy introduces Robert to the CEO of High Level, a marketing platform, and discusses the possibility of using Routezilla for their clients. [01:23:12] Importance of continuing on the entrepreneurial journey and not quitting. [01:25:02] The significance of embracing challenges as opportunities for growth and success. [01:27:16] The idea that personal growth and improvement is a lifelong journey that never reaches an endpoint. Episode Resources: Website | Routezilla
E21
Sep 4, 2023
1:27:30

20: Sam McLoughlin ON: Journaling for Personal Growth and Reflection.

In this episode, our hosts interview Sam McLoughlin. They engage in a conversation about Sam's background, creative pursuits, and the importance of validation in his work. They discuss Sam's experience as a documentary filmmaker and his involvement in the CrossFit community. Sam shares his perspective on what truly matters to him, emphasizing the importance of being there for loved ones and providing support. They also delve into the topic of journaling and its benefits for tracking progress and celebrating achievements. The conversation touches on the challenges of staying focused amidst external pressures and the significance of self-reflection. Author, Feature-length filmmaker, and creator of the Yearly journal. Award winning documentary filmmaker, Sam McLoughlin has produced, directed and filmed movies that have gone on to reach millions of viewers. Such as the documentary of CrossFit athlete Brent Fikowski. He's a published author and has also directed music videos over the years for bands like Son Lux, Said the Whale, Snowmine, Andrew Judah, Icelandia and more. What we discuss: [00:01:29] Talk about the creative drive, connection with people, and aspirations as a creative and achiever. [00:03:25] Sam's journey as a documentary filmmaker, the success found in the field, and the challenges of chasing views and achievement. [00:09:56] Discussion on the importance of positive self-talk in CrossFit and how it contributes to success in the sport. [00:11:19] Exploration of the motivation behind creating a yearly journal to track personal growth and achievements. [00:20:21] Discussion about the different sections and features of the life maps journal, including the intro, recommended reading, habits and goal setting, self-assessment, reflection, and project/dream planning. [00:30:17] Discussion on the importance of setting a statement of intention for the week and prioritizing certain things. [00:31:56] Exploration of the concept of being intentional in daily life and avoiding reactive behaviour. [00:37:44] Conversation about the influence of social media algorithms and the challenge of navigating a world with certain projected values. [00:40:11] Discussion of the value of being a good friend over the years and prioritizing relationships. [00:43:53] Encouraging listeners to be okay with who they are in the present moment and not constantly striving for external validation or success. [00:49:28] Discussion on the importance of validating oneself and the inner child before seeking validation from others. Episode Resources: Sam McLoughlin | Website Sam McLoughlin | Instagram
E20
Aug 28, 2023
51:17

19: Stephen Whiting & Troy Mack ON: Remarketing 101

In this podcast episode, Jonathan interviews Troy Mack and Stephen Whiting. They discuss the power and effectiveness of remarketing strategies in growing businesses and maximizing return on investment (ROI) on advertising spend. They explain that remarketing allows businesses to consistently put their message in front of potential customers, building trust and establishing themselves as experts. They highlight the cost-effectiveness of remarketing compared to other marketing channels and emphasize the importance of meeting potential customers where they are in their buyer's journey. They also introduce their own remarketing system, StreetText, which simplifies the process and saves time for marketers. Overall, they encourage listeners to incorporate remarketing into their marketing strategies to increase conversions and build relationships with potential customers. Stephen is the co-CEO/Founder of StreetText. Troy is a product expert and head of product at StreetText. Troy helped Club Penguin grow from a small team to a billion dollar company. He has a background in product, design, and digital arts. Stephen has been advertising on Facebook since 2012 and continues to stay ahead of the latest innovative solutions before they hit the market. What we discuss: [00:01:21] A high-level explanation of remarketing as a way to stay relevant and remind leads about one's business using ads. [00:04:14] Remarketing is cost-effective because it allows businesses to communicate with leads on an ongoing basis, providing value and building trust. [00:09:00] Remarketing is compared to other advertising channels in terms of cost and effectiveness. [00:12:24] Indoctrination refers to consistently exposing potential customers to your message to build trust and guide them toward choosing your business. [00:18:42] The importance of consistently being in front of potential customers, building trust, and guiding them along their journey. [00:19:14] How remarketing campaigns can provide valuable information and establish trust with potential customers, using the example of a roofing company. [00:21:20] The use of video ads to showcase the company's personality and expertise, tracking what people have seen, and targeting ads based on previous interactions. [00:28:26] Discussion on the effectiveness and simplicity of remarketing strategies in businesses. [00:29:30] Exploration of the limitations and difficulties in setting up remarketing campaigns on Facebook. [00:33:29] Explanation of how automated systems can simplify the process of maintaining and updating audiences for remarketing campaigns. [00:38:38] Discussion on syncing CRM with Facebook audience, creating custom tags and filters, and the importance of segmentation. [00:41:37] Exploration of the problem of showing the same ad repeatedly to potential buyers and the solution of ad bundles with automatic rotation. [00:45:12] Explanation of the difficulties and time-consuming nature of manually setting up ad rotation rules in Facebook. [00:49:15] Using powerful content to tailor a story and build trust with customers through remarketing. [00:55:12] The simplicity and effectiveness of remarketing in a cookie-less world, and the mission to simplify advertising for businesses. [00:57:04] Using content and remarketing to create a strong connection with customers, making them feel like they know the business and increasing excitement to meet in person. Episode Resources: StreetText | Website
E19
Aug 21, 2023
59:13

18: Lance Schafer ON: The Path to Building Profitable Ventures

In this episode, Jonathan interviews entrepreneur Lance Schafer about his entrepreneurial journey and experiences in business. Lance shares a story about his early venture in the supplement industry and the marketing lesson he learned about preconceived notions. He discusses the placebo effect and the importance of differentiation and recognizing market potential. The conversation also delves into selling oneself, the value of expertise and learning from others, the potential of blockchain technology, and the downsides of relying too heavily on technology. Lance emphasizes the importance of writing and expressing thoughts, his portfolio entrepreneurship style, and the need for focus and prioritization. Portfolio entrepreneur, tech leader, and mentor. Lance Schafer has started, grown and sold multiple companies. Founding the national auto trading brand LemonFree and today GM at LotLynx. With more than two decades of experience as an Entrepreneur in digital media, business management, and start-ups, Lance has a true passion for disruptive technology that is results-oriented. In his role as a mentor and as a Senior Leader, he's helped companies cut through the clutter and jargon that surrounds digital media delivering substantial results that are innovative, repeatable, and highly successful. What we discuss: [00:08:33] Lance talks about his early entrepreneurial ventures, including starting a business selling creatine monohydrate supplements. [00:10:40] The pair discussion the founder's realization of underestimating the potential of the video hosting platform market. [00:11:45] The pair talk about a study on rats that demonstrated the direct impact of the placebo effect on the immune system. [00:13:22] Lance shares his experience of discovering the internet through Netscape's IPO and starting a web design business, including insights on the commoditization of web design and the importance of website traffic. [00:20:46] The pair discuss the significance of selling your company instead of just selling the category or product. [00:22:46] Lance explains the Dunning-Kruger effect and the potential consequences of underestimating the need for expertise. [00:26:20] Lance shares insights on how to gauge the direction of the market by observing where investments are being made and the development of infrastructure. [00:31:19] Lance talks about the anxiety experienced during the entrepreneurial journey and the lack of legal protection during the process. [00:31:55] Lance explores the remarkable value and security of Bitcoin, with $2 trillion worth of assets and no employees or security guards. [00:32:29] Lance speculates on the potential of blockchain in validating records, such as verifying the authorship of written content and ensuring authenticity in various fields. [00:41:34] Lance discusses the significance of writing down thoughts and expressing them, especially for personal wellness and development. [00:42:31] Lance explains the benefits and potential drawbacks of using AI assistants for editing written content. [00:52:44] Lance shares Richard Branson's approach to spending half his time looking for leaders and the significance of finding top talent for the vision. [00:54:13] Jonathan's observation of Lance's profitable and steadily growing business, highlighting an alternative option to struggling startups. [00:55:16] Lance shares his belief in building a company without raising money, focusing on achieving cash flow quickly and maintaining control over the business. Episode Resouces: Lance Shafer | Website Lance Shafer | Linkedin
E18
Aug 14, 2023
58:07
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