Foundr Magazine Podcast | Learn From Successful Founders & Proven Entrepreneurs, The Ultimate StartUp Podcast For Business

Despite being a prolific investor as one of the judges on Australia's Shark Tank, Janine Allis would rather sell her family home than seek investor funding. How do we know? Well, that's precisely what she did to start her own business.

Allis started her first business while on maternity leave, and it was then, like so many entrepreneurs, when she realized she didn't want to live by someone else's rules anymore. The result was Boost Juicea retail empire that stretches over 500 stores across the globe, making it the largest and most profitable juice bar chain in the world.

While Allis certainly isn't entirely against the idea of taking investor money, she does caution entrepreneurs that raising capital should never be the first goal. And she has some indispensable advice on how to avoid the common money traps so many entrepreneurs fall into.

The most important stake any entrepreneur has in their own company is their equity and the passion they have for their own project. Bringing on investors not only means that you'll lose out on some of your equity, but it also means that you may have to make room for someone else's passion and vision for the company. And, most of the time, investors are more interested in the bottom line as opposed to the founder's ideas.

"I'm a firm believer that you only ever ask for money when you don't need it," Allis says.

She has seen firsthand how many entrepreneurs get caught up attempting to solve all their problems by throwing everything they have into fundraising—a Hail Mary pass that, more often than not, ends up hurting a business in the long run.

To help you avoid that common pitfall, Allis has some choice pieces of advice that you need to hear.

In this episode you'll learn:

  • The simple solution to avoiding the money trap and investors
  • Expert advice on how to build your business to grow as fast as possible
  • Her secrets to building a killer brand that connects with millions
  • What to expect when dealing with investors, and how to know if one is right for you
  • How to have it all as an entrepreneur. No concessions, and no compromises
  • & so much more!
Direct download: FP171_Janine_Allis.mp3
Category:general -- posted at: 6:10am AEDT

Greg Mercer built an entire lifestyle business without having to build his own products, distribution network, or even an online store.

Instead of creating his first business from scratch, Mercer took advantage of the tools around him and started selling products on Amazon. It worked, to the point that he and his wife were both able to quit their jobs and start traveling the world. He had achieved the dream that so many of us are working toward, all by cleverly riffing on an industry giant.

Within two weeks, though, he was bored. Fortunately for us, Mercer's next project is helping others find similar success.

Selling everything from wrist braces to cages for tomato plants, Mercer realized he had stumbled upon a proven formula. A formula he could use over and over again that allowed him to find products people wanted, sell them on Amazon, and turn a significant profit. The next step was obvious.

Mercer built a tool called Jungle Scout, which allows other ecommerce entrepreneurs to find opportunities to make money on Amazon. Despite having limited himself to a budget of only a thousand dollars, having absolutely no coding or technical experience, or any experience in the software business, Mercer hacked together Jungle Scout, his first bona fide startup.

After starting out as a complete novice, Mercer began learning on the job, and despite encountering some classic hurdles and mistakes, has found himself at the head of a fast-growing company.

In this episode, you'll learn:

  • Mercer's strategy that anyone can use to make a profit on Amazon
  • What every ecommerce entrepreneur should be aware of when selling online
  • How to build a SaaS from scratch, with no tech skills
  • What to watch out for in ecommerce opportunities
  • How to build and manage a remote team that actually works
  • & so much more!
Direct download: FP170_Greg_Mercer.mp3
Category:general -- posted at: 2:15am AEDT

Mark Cuban is a very busy man. As one of the star judges of the hit show Shark Tank, Cuban has invested in nearly a hundred different startups that have appeared on the program. That's not even mentioning the investments he makes outside of the show, and the dozens of other businesses he's founded or manages himself.

So how does a single person manage to keep so many plates spinning at the same time?

His secret: Hiring the right people.

Cuban is always making sure he has the best people staffing the hundred-plus businesses he's involved in. And while hiring seems like a pretty basic business practice, finding the right talent is a true art, and one that Cuban has mastered.

It's a process of finding the right person, putting them in the right environment, and then continuing to build their personal growth and passion about the job they're doing. And in Cuban's case, multiplying the process for a thousand-plus employees.

That may sound hard, but Cuban says the one skill every founder and entrepreneur needs to master if they want to become a billionaire businessman, is knowing how to be a leader. If you don't know how to recruit and manage people, you're just not going to make it very far.

It can take decades of trial and error to figure out how to deal with the thousands of different personalities out there, and knowing what to prioritize at any given time. But Cuban has figured it out, and he's sharing his secrets with us here.

In this episode you'll learn:

  • The art of finding and nurturing the talent in your team
  • How to deal with problem employees, without just firing them
  • Whether mentors really matter—when you need them, and when you don't
  • How Mark Cuban manages a thousand-plus employees
  • The surprising reason you shouldn't be looking for invesment
  • & so much more!
Direct download: FP169_Mark_Cuban.mp3
Category:general -- posted at: 2:24am AEDT

Often as entrepreneurs, we envision success as owning more objects, like a fancy watch, a big house, or a fast car. But what if there were a more authentic, more enriching version of success? One that involves less?

That's the question that Joshua Fields Millburn seeks to answer, as one half of the duo who call themselves The Minimalists. Millburn and partner Ryan Nicodemus have built an entire brand around how to live a better life by having less.

Millburn runs a website with an annual audience of more than 4 million readers, hosts one of the most listened to podcasts in the world, has published multiple best-selling books, and has even produced and filmed a critically acclaimed documentary. In this episode of the podcast, Millburn gives us the crash course on redefining success, and otherwise decluttering and streamlining your life.

Millburn first adopted the minimalist lifestyle after spending years climbing the corporate ladder. By the time he was in his late 20s, he realized he wasn't happy, despite having everything that he thought he wanted.

"I always felt I was one promotion away in my career from being happy. But of course, I had all these other things that came with that ostensible success like stress, and anxiety, and discontent, and overwhelm, and of course a boatload of debt," Millburn says.

He says that too many entrepreneurs get caught up in the idea of constantly wanting to achieve the next goal, and the one after that, and so on so forth. But rarely do they ever take a moment to think about why they're working so hard, and to what end.

According to Millburn, the key to achieving happiness is to pursue meaning over anything else. And to do that you must first ask yourself, "How can my life be better with less?"

In this episode you'll learn:

  • What the minimalist lifestyle is and how to start living it today
  • The key to finding things that give value to your life
  • Balancing the hunger entrepreneurs have with the minimalist lifestyle
  • What it means to give yourself permission to be happy
  • & so much more!
Direct download: FP168_Joshua_Fields_Millburn.mp3
Category:general -- posted at: 6:33am AEDT

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