In this episode, Dave is excited to welcome Zeona McIntire. Zeona is the poster child for the new economy, the shared and gig economy. She was an earlier adopter of AirBNB and owns a number of properties that she rents through the site. She also created a niche for managing property for AirBNB owners and manages dozens of properties throughout the world for owners. She teaches others how to invest in properties with AirBNB in mind and create automated businesses. She spends half the year in Denver, Colorado and the other half traveling the world as an international pet and house sitter.
Zeona may be part nomad, but make no mistake, she knows her business. Dave’s asked her to hold nothing back and give you every secret she has for succeeding in the new economy in this interview. Zeona started working with AirBNB 6 years ago when a friend of hers introduced her to it. At the time, she was in school, so she didn’t act on moving forward. That was until she found out her friend made $50k off their condo. She then dove in and started with her first property and went from there. She now have 5 properties of her own and manages dozens worldwide.
What should people know about AirBNB?
What should people do to get started? How do you get first property and set up your business?
Tips to Make an Experience with Your Rental?
How much does location matter?
What should people know about management?
Other opportunities exist around AirBnB. Companies do everything from AirBnB signage to pricing consulting and everything in between.
Tips for Staging a Property?
Things that you do to be successful?
How do you stay organized while spending half the year abroad?
Best Quote: "You can design your life anyway that you want. You don’t have to subscribe to the way that “everyone is supposed to follow.” You can do it differently."
Zeona's Misfit 3
In this episode, Dave is excited to welcome David Barnett. Dave is the author of 3 Amazon best-sellers – Invest Local, Franchise Warnings, and How to Sell My Own Business. He is the owner of a very unique business, Advantage Liquidity Partners. ALP works closely with small and mid-sized business owners throughout the world to help them through the process of selling their business for the best valuation.
Dave has become so sought after that he has helped a business sell in every month for 35 months straight!
Valuing and selling a business is one of the toughest and most understood areas of entrepreneurship, so I want Dave to give what you really need to know if you ever are in a position to sell, as well as, provide some of the business wisdom and lessons he has learned from working throughout the world for so many years.
David has always been entrepreneurial. After University, he went into a corporate job, but quickly found it wasn’t for him, so he started a business in the junk removal industry. Within a few months, he made it a success. Not long after, he sold the business and as he says “I did it naively.” He learned a lot and then started a business doing finance brokerage for small-mid-sized businesses.
This did very well until 2008-2009 when financing started to grow up. He then started to get asked about helping buy and sell businesses. Naturally, David started a business for it and was very successful. One issue with the business model of brokerage is cash flow as it is up and down because of lump sum payments. At one point, this problem exacerbated itself where David had multiple deal fall through all at once and he decided to move on.
He had to make ends meet, so he reluctantly took a job and about 4 months into it, he got a call from a person selling a business asking for help. He said no. A week later, he got another call from someone trying to buy a business asking for help to analyze the deal. He found a niche in consulting with people to buy and sell their own business. And this turned into the business he has today where he helps people buy and sell businesses on their own throughout the world.
#1 thing entrepreneurs should know about valuing and selling a business?
How does an entrepreneur do the right things now to be prepared for an exit?
Biggest mistakes that entrepreneurs make when they sell the business?
Not properly taking care of working capital (example is having too much inventory)
Payables – a profitable business will accumulate cash over time and businesses will get in a habit of paying bills as they come, as opposed to making sure they are paying when the bills are due. This shows buyers that other people’s capital can finance the growth and operations of the business.
Receivables –one of the best tricks to get paid faster and on time is to put the actual date that is due instead of “net 30 or 45.” Customers will pay you sooner.
At the 21 min mark, Dave gives a great example of how the above can work and make a huge difference in a business.
How does a business owner know when it’s time to sell?
At the 33 min mark, David gives his cautions on franchises and what you should know about them
Top Lessons learned?
At the 42 min mark, Dave gives thoughts on if you are buying a business and thoughts from the buyer side.
Best Quote: "20-30 years ago, everyone wanted to be a McDonald's franchisee, nowadays everyone wants to be Ray Kroc."
David's Misfit 3:
Hello Misfit Nation! Welcome to another edition of "Lessons for Hannah!" In November of 2016, we introduced a new format that we are putting alongside our regular episodes called “Lessons for Hannah.” Hannah is my daughter and one of the main inspirations for the Misfit Entrepreneur. I wanted to have a place where she could go and learn from her daddy and his Misfit friends throughout her life….even after I am gone. If you haven’t listened to the first episode of "Lessons for Hannah," I urge you to as it gives some more background and tells the amazing story of how Hannah came to be in our lives.
"Lessons for Hannah" are short, very useful, and sometimes comical lessons, that I have learned which I want to share with you and give to Hannah to help in your lives. Because I want Hannah to have these for her life, I’m going to speak as though I am talking directly to her. These episodes are a lot of fun and if you think there is a lesson that we should include in these episodes, please don’t hesitate to send it over to us at email@example.com. We’d love to share it.
This week’s Lesson for Hannah
Hannah, honey. I want to talk to you about a secret of the most successful. As you go through life and meet people that are very successful at what they do and seem to know exactly what they need to do to stay that way and keep reaching higher levels, I want you to ask them about their goals…because I bet, they will have them written down somewhere. There has been so much studied on this topic over the years, but it simply comes down to this – those that write their goals down and make plans to achieve them are much more successful than those that don’t.
One of my favorite quotes, that I hope you will also come to like, is from the famous Greek philosopher, Aristotle, who said “Man is a goal seeking animal…his life only has meaning if he is reaching out and striving for his goals.” Your mother and I are living proof that this is true. Every year, we take time to write down our goals and share them with each other. It is amazing how just doing this exercise can make things so clear and give you direction.
A question you may have is, “That’s great dad, but where do I start? Do you a process for setting goals?” The answer is yes and you will find it in the book I wrote a long time ago, The Ten Year Career. You can also find a video of me discussing it and some materials to help you online at the link in the show notes page of this lesson. But, and this important, I want you to understand, no, I encourage you, to come up with your own process of things. Use my process as a base, but add your own flavor to it…make it your own.
Hannah – setting and writing down my goals has been one of the best habits that I have ever created in my life and I know it will help you on your journey tremendously. So, write your goals down, go after them, and turn your dreams into reality. I can’t wait to watch you do it. I love you, Daddy.
Best Quote: "Man is a goal seeking animal...his life only has meaning if he is reaching out and striving for his goals." - Aristotle
n this episode, Dave is excited to welcome Mike Koenigs. Mike is a serial entrepreneur, 10 time #1 best-selling author, speaker, and interactive online personality and entertainer.
Dave first met Mike almost 10 years ago when he was on the cutting of building your brand online with video. Mike, liternally pioneered video marketing and a host of other online marketing mediums. Just about every personality from Tony Robbins, Paula Abdul, and Hollywood A-listers like Richard Dreyfus have sought out and worked with Mike. He’s won the marketer of the year award, sold 2 businesses to publicly traded companies, and is a very active philanthropist.
This episode is really a special treat as Dave and Mike go deep into a number areas from Mike's background and amazing story to what he sees coming in the future (that you absolutely need to aware of), and some of the best advice you get for building a business and brand online.
Connect with Mike on Facebook: @koenigs
Email Mike: firstname.lastname@example.org
Mike grew up in a small town in Minnesota. Mike learned at an early age to be self-sufficient and love to make stuff. He did not do well in school because he is a very kinesthetic learner.
He started coding at 14 years old and was a young hacker. He started his first business at this time, but was always interested in movies and music. He took this love and started an online advertising agency called Digital Café, one of the first online, interactive businesses.
Mike started using video on the web years before Youtube ever existed. He figured out how to hack search engines and video search engines to get traffic. He turned this into a “push-button” system called Traffic Geyser and secondary texting product called Instant Customer.
Mike was diagnosed with cancer in 2012 and had to make serious changes to his life. He sold some of his businesses, got through cancer, and then started again, becoming a multi-time best-selling author and building a new set of businesses.
What was the tipping point of success? Mike had a low point where he was over $250,000 in debt, went through a divorce, and living off of credit card checks. It was at this time that friend of his introduced him to Tony Robbins. Mike took everything he had left and joined Tony’s programs and went to an event. Within 6 months he had turned his life and business around and a year later, a billion dollar firm bought his company. Mike says he found a great mentor and invested in himself and was willing to take a radical risk.
Ironically, a few years later, Tony came to Mike for help in setting up his studio and marketing online.
“Find mentors you resonate with and then go head first, take the big risks, and trust your heart and your gut”
Traits of high performers:
“What about you right now is standing in the way of becoming the new you? What is it that keeps you frozen in the place you are?”
Pay attention at the 16 min mark as Mike talks about detachment for freedom.
Mike talks about how important it is to stay in the game and how important it is to develop business management skills.
At the 25 min mark, Mike talks about the evolution of doing business online and gives his advice for those starting out today.
Mike says one thing he has learned the hard way is that turtles always win because they don’t wear themselves out before they play the long game
At the 34 minute mark, Mike talks about the revolution of video marketing and how it is changing everything and gets into what is coming and how you can take advantage.
Core skills you need:
Innovation and leadership will always be needed.
You must be able to rapidly prototype something, get it in front of a market, and test it.
Things to focus on and make part of your strategy and spend your time:
#1 thing needed for a successful product launch?
Best tips to grow an audience or list?
Biggest NOT TO DO in building your brand online?
What is the biggest lesson learned from your cancer experience?
Best Quote: “The more insulated you get from the customers on the ground level, the more you lose touch. And once you get insulated, you don’t have a sense of what reality is any longer.”
Mike's Misfit 3
In this episode, Dave is excited to welcome Audria Richmond. In this show, Dave and Audria debunk the myths about Millennials, because Audria proves that many things you’ve heard about them and their views on work, etc. are just not true.
Audria is the owner and CEO of Building BIG Brands Agency. The company’s mission is to empower and strategize with digital entrepreneurs, small business owners, creatives, executive leaders, and industry influencers to develop a profitable personal brand. They do this with a signature framework called the “Seven Phases."
Audria has won numerous awards, been featured in the Huffington Post, Business Insider and other news outlets and recently released her first book, “Are You Ready for the YES?” in January, which is already a best-seller.
But, above all of this, there was one thing that really intrigued Dave about having her on the show and that is that she was able to take her brand from local to global in 60 days and create a 6 figure income in her first year in business!
Connect with Audria across all social media with the handle @AudriaRichmond
Audria started off as a part-time professional photographer in 2008 while also working as flight attendant. She borrowed a camera to start and took some online courses, self-teaching herself how to be a professional. She quit her job in 2009 with no money saved because she knew it would cause her to hustle harder.
Her photography business started to grow and she began to outgrow the Memphis market. She then started adding creative services and graphic design. She then created and published a magazine called Love New Art in which she could show her work and the work of others that were not getting the attention they deserved.
She then came to a cross-roads. She has done well with her photography and graphic design, but had priced herself really low to get business. She made the decision to become a true professional and charge the rates her work was worth. This didn’t go over well as she had trained clients to be used to “deals” from her.
At this point, she had exhausted any money she had and had to take a job again. During this time, she self-educated on online marketing. She got to a point where she was ready to go on her own again and published an online video on branding. Within 2 weeks of putting up the video, she started getting responses from people all over the world. In fact, her first online sale was a lady in Singapore. And then within her first 60 days, she had made $20,000.
At the 7 min mark, Audria goes through the steps she took to do go from local to global in 60 days.
At the 17 min mark, Audria talks about millennials and how they are mis-understood. She discusses how they utilize technology to succeed. She also talks about how people need to “meet them where they are” and understand the psychology of millennials before making up their mind. Millennials can adapt to change very quick and that is an asset in today's world.
At the 19 min mark, we talk about Audria’s 7 Phases Framework:
What is one thing in each of the 7 phases that people need to do to be successful in that phase?
Advice for those just starting online?
At the 27 min mark, Audria talks about what is working right now on social media and what is working with live video. Advice for entrepreneurs?
How do you stay relevant? Become an insider instead of a reporter. Find the new trend that people are talking about and insert your expertise into it.
Best Quote: Become and insider instead of a reporter
Audria's Misfit 3