ADVANCE: Take Your Next Step with Mike Acker

Ep 22 | Transfer Proven Principles into Business Success with Patrick Parker [Season 2]

August 01, 2022 Mike Acker
ADVANCE: Take Your Next Step with Mike Acker
Ep 22 | Transfer Proven Principles into Business Success with Patrick Parker [Season 2]
Show Notes Transcript

INTRODUCTION TO EPISODE 22

 

Learning how to launch, grow, and successfully run your business? In today's episode of the Advance Podcast, learn the secrets to exceptional entrepreneurship from athlete-turned-entrepreneur Patrick Parker, who runs not one but five successful businesses!


Over the last five years, Patrick has built out five different software companies, two of which are now venture-backed, and all of those are generating over a million dollars in revenues. Patrick's entrepreneurial journey started as a side gig and eventually turned into full-time business, beginning with a staffing company. When it first scaled to a million in revenue, he took 30% of the profits from that, launched a software company and grew that to 3 and a half million in revenue. Gradually, he's built and scaled many other businesses and has scaled them suitably to attain meaningful revenue.


In today's episode, join Mike as he interviews Patrick about entrepreneurship lessons from his amazing journey and learn to manage your time in a way that helps you grow financially.


EPISODE 22 SUMMARY & HIGHLIGHTS

What did Patrick’s athletics background teach him about leadership now that he’s in the business space? : 2:15


Patrick reveals that his athletics background prepared him greatly for the business space - helping him know everything from being coached, the ability to encourage and lift up teammates, to dedication and consistency and hard work and development of his personal skills. In his words, 'Going from being a player to still being involved with athletics and becoming a coach, and helping other people develop their skill sets, is exactly what leadership is about'. 

How does Patrick go about managing five companies? 

Patrick finds it a matter of prioritizing his time. His secret is perhaps being intentional and focused with each company. He also prepares a call list every night – a list of the things that he has to do in order for everything to continue moving forward. 

Patrick believes strongly in not falling prey to a comparison mindset. The problems only get bigger that way. Patrick's way of working is starting small, staying grounded, and continuing to imitate or mimic that across all his businesses. 

Another thing he does is document the lessons learned – documenting what works and what doesn't and building frameworks and processes that make your business easier. 

Patrick also works on his focus. He uses time blocking to protect his time and spend his energy and effort in the right direction. He also uses focus tools on his phone to temporarily block the apps distracting him from work.

Patrick’s blueprint for growing a profitable business: 12:47

What's the purpose of a flywheel?: 25:17

Patrick’s closing advice for you: 32:04

(Full shownotes at https://connect.stepstoadvance.com)

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I love listening to people who are very  successful in different areas and they're   able to translate that success into yet other  areas so today Patrick Parker former athlete   who then went on to start and run five different  companies all making revenue of over a million   each so check this out on what to do when you  want to translate principles into greater success Welcome to advance with Mike Acker the  podcast designed to help entrepreneurs   business leaders and professionals alike  break through barriers by improving their   practical leadership skills and  increasing confidence in speaking   your host is a best-selling author  executive coach and founder of the advanced   public speaking school and advantage publishing  group two companies dedicated to providing an   edge for leaders find out more about mike at  mikeacker.com now here's your host Mike Acker Patrick thank you so much for being  on the program with me today I'm   looking forward to talking with you absolutely mike thanks for having  me so you were a athlete through growing up and  then really went big time and had some big dreams   and then you went to leadership but tell  us a little bit about your athletic journey   and then some of the things  that taught you about leadership   so so growing up my father was a college  all-American so basketball was something   that was always in the cards for me yeah I guess  like a lot of kids you know I always had the dream   of growing up becoming a professional athlete  and just continuing to do what I love to make   a living out of it in my junior year though  I went up to duncan to practice came down and   landed on somebody's foot and basically shredded  my knee so it was a long recovery process   and during that time it just didn't make  sense to continue so I chose another route see see I always had the dream of being the next  Bo Jackson yes and the that was the guy I you know   worshipped him I had 500 plus cards of his I was  I didn't realize the money nowadays I have them   still so what did that teach you about leadership  now that you're into this business space? well I think everything from athletics trans just  transitions into leadership everything from being   coached to the ability to encourage and lift up  teammates to dedication and consistency and hard   work and developing your your personal skills all  that just translates very nicely into leadership   and so you know going from being a player to still  being involved with athletics and becoming a coach   and helping other people develop their skill sets  is exactly what leadership is about and so it was   very easy for me to transition into a leadership  role because I was so used to performing at a high   level for teaching other people how to grow their  school science um and that's where we're at today I think that's fantastic one of the things I  want to work with with my son is that hard work   and dedication again and again we ask if you  want to get good at something what do you do   and he says you got to do it again and again he's  seven years old we're also teaching them if you   want money where do you go and the answer is go to  work so good things to learn in sports well that's   a little interesting aspect we'll weave that  into the business here a little bit more we'll   talk about it but talk to us first of all who  are you to speak to us on subject of leadership   who are you to speak to us on the topic of really  successful company revenue building leadership? sure so so over the last five years mike have  built out five different software companies   uh two of those are now venture backed all of  those are now generating over a million dollars   in annual revenues and um I basically started out  everything as a side hustle like so many different   people and was was fortunate enough to have enough  success to where my side gig ultimately became my   my main gig and gave me the the capital that  I needed to continue growing and expanding so   I built a staffing company first scaled it to  a million in revenue took the 30 that I was uh   profiting from that launched a software company  grew that to three and a half million in revenue   from there uh operating under what's called  a studio model where when my developers are   rolling off of client projects they come and work  on our products so we were lucky enough to take   several of those to market and uh we're able  to find some traction and continue to grow and   scale them out so I've got a lot of experience  in in rapidly testing the market and launching   products and and ultimately scaling them to  to find uh or to attain meaningful uh revenue. what I love is for all of our  listeners here a lot of the people that   are tuning in right now and they're watching  this they're listening to this as a drive-in   first of all thank you for doing this thank  you for a part of advance and as you're going   through this I know a lot of you are in the  tech space and I know a lot of people have   ideas of side jobs and ideas of something that  they might want to do at some point in time so   the resonate with what you're talking about here  and they're wanting to advance their careers   so whether you stay in or whether you get  out you're going to get some great things   that you're going to pick up right here from  Patrick. Especially if you're thinking hey I want   to get out and do something and you're in that  soft source space really tune in and then look up   Patrick and I know he's launching a podcast we'll  talk about later as well first of all for all of   the leaders that are listening right here also  when you say you manage five different companies   and their revenues all over a million dollars  there's instantly everything can shoot   I'm having a hard time managing eight people  10 people 15 people I'm having a hard time   managing myself so what do I do and what have you  learned in managing five different companies and   I would expect them to compete for your  attention how are you are you managing that? yeah I'm a master of prioritizing my time  that's that's the first thing being extremely   intentional and focused when I'm working within  those companies and basically I have something   on my side that I call a hit list right and that  hit list is not a list of names that I'm looking   to scratch off that is the priorities that I have  for the next day I do this every night that will   ultimately move the needle for my businesses  the things that have to be done in order for   everything to continue moving forward and just  for everyone else that's looking at starting   one of my favorite quotes is from "Theodore  Roosevelt" and it says comparison is the thief   of joy right and so so many people have a tendency  to compare their day one to other people's day 100   right and I think that's a huge mistake that that  prevents a lot of people from getting started so   when you look at industry leaders a lot of people  have a tendency to pick the most polarizing   figures the ones that have had the most success uh  but you've got to realize that they also started   from scratch and so when we were starting  from scratch as a scrappy startup with with   four employees it looked a lot different than it  does now right where I've got 35 employees here   based in the U.S I've got 200 developers in India  so it was a big process for moving up and moving   on and basically reaching that next level and the  same thing happens is every new level you reach   has its own unique problems and those problems  continue to grow and get bigger so for me it   was just about starting small staying grounded  in what I know works at a foundational level   and then continuing to imitate that or mimic  that across the different businesses that I was   starting up and so five sounds like a lot but  at the same time going through and documenting   those lessons learned uh documenting what works  and what doesn't and building out frameworks and   processes that you can continue to to develop and  use across those businesses makes it very easy   so setting up and launching a new business  for me versus a brand new entrepreneur looks   very different right just because I've been there  I've done that I know what works and I know how to   avoid a lot of those pitfalls that that especially  young entrepreneurs are going to ultimately face let's come back to that in a moment because  I'd love to know if you have a blueprint for   for doing what you're doing so we'll come back to  that what kind of when you talk about priorities   you're doing it at night is there any other tools  that you're doing what happens if you get that   Austin that project or that person  that takes you away from that priority   talk to us a little bit more about that? yeah and inevitably that's going to happen right  anytime you're running multiple businesses or   anytime you're running a single business um  the unforeseen circumstances that pop up in   in day to day business um they're gonna  ultimately shift your your attention and   so for me it's it's about time blocking right I go  through and I say hey from this time to this time   I'm doing deep work in this company right I'm  not one of those people that sits there and   checks my email all day long um I'm not someone  that will respond back to you in five minutes   and the reason is because I'm working  so I have to be extremely protective   of my time and make sure that I am spending uh  enough focus and energy in the right areas so that   again I continue to to move the needle and move  things forward and so it's not about it's not   about tools it's more about a mindset that I  have adopted over time uh that has helped me   you know block out all the noise and  really do deep work each and every day. You mentioned the email I mean that's  a common thing for a lot of people that email throws them off right right so and  that's that's the thing it's like most of the   issues that you're going to source unless you  have employees that are busting into your office   most of the the problems that you're going to  source are going to be from email right it's   going to be your colleagues your co-workers your  clients that are reaching out to you because of a   problem or an issue or you know downtime within  your software and so if you're looking at that   all day every day you're constantly in the frame  of mind of problem solving right which means that   I'm going to be reactive I'm going to wait  for the next email to arrive then I'm going   to address it and then I'm going to try to start  doing something else and then I'm going to come   back to it as soon as I get the next email right  and so each time you do that you're unknowingly   losing focus right and so instead of that  there's a couple of tricks that I do use   just for example on my phone setting the the focus  time on my phone so that I'm not taking calls from   people that uh I'm not interested in entertaining  while I am actually doing that deep work   and so that that gives me extreme focus  uh and clarity on what I'm doing and   that's the only way that I could run  multiple companies at the same time   is by being extremely intentional uh about how  I'm using my time and then guarding that time. I love that it's sometimes with the the technology  that we have now I mean I got my watch on right   an email can come through and we know  it and then we feel that pressure. yes  I love there was uh something in college  I learned on prioritization it was at the   quadrants it has the urgent  importance and all those quadrants   fantastic you know I've loved that tool  when I'm on top of my game I'm definitely   doing something like that I'm not always on  top of my game so sometimes I do get derailed yeah no I'm with you I'm very momentum  driven uh not just in my my own business um   in my personal life as well so it's it's very  easy to pick up steam and momentum when you get   those quick wins right and that again is email  is just something that I'm self-aware enough   to know that email detracts from me being  able to continue and sustain that momentum yeah absolutely okay so talk to  us about this blueprint I mean   share with us whatever you're willing to  share on how to quickly scale companies   to a million dollars teach  us how to become millionaires   in software companies or whatever type of  companies we're listening to and everybody else   take your pen out get ready pull over on the side  and uh this is this has worked several different   times and I know that Patrick helps other people  with this so Patrick walk us through this? sure so so after building five successful  companies in five years I spent an inadequate   amount of time um actually going through  and defining this process recording it   um and then I went back years later uh and  did the same thing it was it was kind of a   okay let's let's make sure we get a brained  up on all this so that I could give people   a framework uh that will ensure their growth  and so if you look at the statistics 91 of all   startups fail right and that number to me just  just jumps out it's huge and the reason that it   jumps out to me is because after successfully  launching all these different ventures   um I don't understand how people can fail at such  a high rate right and so I may be a little bit out   of tune with the market but I don't think that's  the case I think it is that people fail to do the   deep work first if you front load all of your  effort on actually going through and validating   uh the need for the product or service that you're  looking at launching first understanding and   going extremely deep on defining your ideal  customer profiles and your buyer personas   and then being aware of who your competitors are  you can avoid launching a company in the first   place that is with extreme resistance or lack of  demand so just by doing the hard work up front   you can alleviate or mitigate you know a huge  amount of risk that goes along with starting   a business and so from there it's really about  unit economics understanding okay if I'm going   to get to that million dollar mark right it's  going to be very difficult to do selling 19   digital products if I'm looking at high ticket I'm  looking at 3 000 to 6 000 annual contract value   then it becomes much more attainable right you  know exactly who those customers are you know   who's willing to pay for it you know what problem  it solves and then it's just about delivering   on your promise ensuring that they're actually  receiving the benefits of your value proposition   and from there it makes it easy to capture  case studies it makes it easy to capture   testimonials success stories all the things that  are going to help you uh basically multiply the   number of clients that you have turn 1 into  10 10 into 100 100 into a thousand et cetera   so that you can rapidly scale out your business  through the social proof that you've collected   and the feedback that you've collected from  those people so a lot of it goes to setting   up your business the right way on the front end  making sure that your model is scalable that you   know who your customers are and that you're  not making assumptions about the industry   so if you get those things right it  becomes a lot less likely that you'll fail so when you're doing this you're now  doing this kind of almost intuition   based on what you did or you figured it out is  there and people are going okay that that sounds   easy or maybe it sounds complex  have you put this together in I mean   and I don't know if you do coaching or  anything is there is there a process   like do this this this this this I mean people  are listening to this going make it simple. yes yes yes so we have a seven step process  that we use just for validating an idea right   and that's part of a larger guarantee to grow  framework that we have um that basically takes   you all the way from the ideation phase through  to where you've actually built a product that   are scaling it out right we're one of the only if  not the only uh companies in the entire software   development industry that actually offers a  guarantee that your business will grow if it's   a product that we're developing on or if we are  providing marketing and support for it right so   we feel extremely confident uh having done it a  number of times not just with our own products   but with over 100 client products and applications  that we've launched and scaled that we've gotten   it down to a science right so that framework is  is basically a set of processes a set of playbooks   and and basically an overall blueprint for how  to be successful in in your business and so I do   offer coaching um I've got a ton of incredible  entrepreneurs that I work with I love the kind   of intersection of business and innovation  that's where you know my realm genius really   lies so I'm really good at being able to analyze  opportunities and to help people basically remove   those barriers that they need to overcome in  order to do what's next and to hit that next level so there's that research aspect the setting  up doing the deep work a lot of people   I find I mean for me I kind of happened into this  entrepreneurial space and it's been a fantastic   get up and it's been a very interesting thing  to to do and I have three companies as well and   it's been very interesting to go into and for me  I mean it was kind of happened into it because   I was working in corporate sales doing totally  fine and then ended up writing a book that ended   up becoming more and more and more and more so so  I understand a little bit of what you're talking   about here not in the software space but I did  a little bit backwards I happened into it I fell   into it okay because the book grabbed a niche that  I didn't even plan on it was it was a hobby for me   and then it went full time so I kind of happened  into it so it's interesting for for you to look   at and go okay actually do the deep research  because you don't typically happen into something  Do that understand your market and and  the third company we started definitely   we did a lot a lot more of that research and  let's let's look at what people need sure   do you think there's a lot of people who are  hoping for my kind of just fall into success story   I mean realizing that I had 20 years of experience  doing this so it's not like I fell into it   but I fell into the success moment or  what do you think what is what is the   main thing that's holding the back are  they not doing the deep work in advance   are they are they running before they're ready to  run what are the problems that people are having? yeah so I think the the top three problems  uh number one is people make assumptions   right just because you have an issue with  uh within your industry within the way that   you operate and do business does not does not  mean that everyone else across the market does   right so when you when you make assumptions you  are basically introducing bias into the equation   that could easily be prevented and so if  you actually go out and do that deep work   and you are interviewing customers  you're performing uh surveys and   and collecting feedback from within your  target market then you will come to know those   customers and that more importantly that  customer base intimately and you will understand   you know what drives the decision making what are  the what are the huge pain points that actually   need solving and then that helps you create  an offer uh to ultimately provide a solution   I think I think absolutely I mean most people  fail by not doing the deep work first um once you   get past that a lot of it is businesses are just  under capitalized or the the uh founding team the   leadership team steers them in the wrong direction  I mean there's there's so many issues that can   continually kind of rear their heads up but you  have to get through that first stage first to   really understand what those even look like  and how to deal with those when they come I was checking out some of your content  and of course if you go on YouTube or   a lot of places the ads targeted at me are like  sales funnels and yeah websites and I got websites   and I have sales funnels and yet I was looking  at some of your content you differentiate those   from from from a flywheel now when I think  flywheel I think good to great the flywheel   going on when you talk about flywheel I'm  sure there's an element of that but how do you   differentiate it from everything else that you do  and from sales funnels and traditional websites? so a website by design is is more informational  right so if you if you look at things from   the initial kind of web 1.0 uh then going  forward to web 2.0 web 3 where we are now   you know web one was really static informational  sites right it was designed to tell you what a   company does what their mission is who they serve  but if you look at a sales funnel right it's very   result oriented right it's very focused on being  able to achieve a desired result right which is   ultimately to capture the the traffic that is  coming across your website convert them into   leads qualify those leads move them through uh  the funnel until the point of conversion right   so it's it's different objectives you know in  terms of communicating who you are as a brand   versus your actual marketing activities uh that  will lead you to growing and scaling a business   and so in terms of a flywheel a flywheel is is  a little bit different it's it's kind of the   the new iteration or the new evolution uh  of your actual sales funnel right and that   goes across with with partnerships with other  companies understanding who can receive value   from what you do and then understanding what the  different channels or initiatives are that you can   feed to your business that will help you basically  unlock new leverage of growth so from a flywheel   if you're looking at your business through the  lens of a flywheel right and for people that   don't know a flywheel is basically a mechanical  device that that takes a lot of energy or inertia   in order to get started but once it builds that  momentum it's extremely difficult to stop right so   you continue to feed it with all these different  initiatives right as a young business this may be   adding in code email outbound sales processes for  for cold calling or for uh lead generation all   these different new initiatives and every time you  are feeding it it continues to move things forward   right you continue to generate leads from from new  channels and you're able to to basically test and   and uh iterate through those extremely quickly  right based on the feedback that you're getting   and so it's kind of the the next generation where  it has that compounding effect that people are so   uh used to linking towards finance right but the  same thing is true within your business right over   time the more initiatives that you feed it the  more momentum that you can build and the more   that those play into each other right so that's  why when you talk about having a sound content   strategy the reason that a content strategy is so  important is because that content can live forever   you can create evergreen content and then it also  can speak to all the different phases of the buyer   journey so you're going from problem aware to  solutional aware right creating content serving   it up to people at different levels of that funnel  then you're going to uh product aware price aware   and ultimately the point of conversion and so  being able to create content that kind of moves   people through that wherever they are extremely  valuable and so all these different initiatives   the goal is to continue moving the ball  forward and to test what works rapidly to   kill what doesn't and to continue promoting  uh and doubling down on the things that do what is one of the five wheels that  you're running for one of your companies? sure so for uh spring which is one of  the venture-backed companies that we run   uh in addition to the traditional service  that we provide as a software we also provide   a mastermind program for that so it's something  that you know we have a lot of health and   wellness professionals uh that don't know how to  build a business they don't know anything about   the technical side of it whether that's anything  from SEO or from running paid ads for example in   order to drive leads on on social media or through  advertising they don't understand the concepts of   email marketing or any of the other different  growth initiatives that you can have and so   basically we are providing them with uh standard  operating procedures for a lot of that stuff and   we're providing them with real world examples of  how they can grow we do process audits and things   like that so that they can basically learn how to  build a better business right and so that flywheel   in addition to helping us attract customers  through differentiation because there's no   other company that does that um within that  space it also gives us the opportunity to   create expansion revenue because now these people  are coming up like hey I need a landing page or I   need a website I need a sales funnel I need uh SEO  I need all these other services from a marketing   perspective that you guys provide and so it's it's  the same kind of you know diy uh dfy done for you   and a fully managed type of environment  where you know we provide access to all   three obviously just at different price  points and so that's a great way that   a great example I can give of creating  a flywheel in your business right just   understanding how you can add value um or  value-added services and then looking for   opportunities to continue to to grow through  upselling cross-selling cross-promoting etc. what is the difference between looking  at a flywheel to keep the company growing   and looking at the lifetime value of  a single customer that might come in? sure so the the whole purpose of the the  flywheel is to increase that lifetime value   right so it's it's understanding how I can  provide other value-added services to them   in order to increase that LCV um and also to help  move them forward and so this business that I was   telling you about spring for example is uh is  based up the entire pricing model is based on   the client's ability to grow their  business right so we have aligned   our model we earn a per user per city cost  that is lower and the more that they grow   the more money we make and so we are incentivized  uh in our introductory line to help them grow and   so that is a great model I think uh to do  business and it's one of those things where   you have skin in the game as well as your  clients and if you're able to perform them   at a high level and grow out their business then  you both profit from it uh equally so it's good. okay so so let's let's move over to a different  topic because you keep on hitting on venture   capital and I know that you're in an NFT space  and such so let's just take a moment to talk   about investing now this is something that you're  looking at and you're something you're involved in   so say you got a manager you got someone out  there and they're just they're listening to this   they're trying to advance their career advance  their life talks was just a little bit I know   it's really part of the plan here let's just go  into investing a little bit what's your thoughts? it's one of those things everyone has their own  take on it um you know so not giving financial   advice but I do yeah that's what we want to  know what you do yeah so you're always going   to have certain uh tried and trued uh avenues  for basically generating a return um real estate   over time always gonna traditionally outperform  the market what people really wanna hear about   I'm sure that's what you wanna hear about as well  is uh how do cryptocurrencies and how do NFTs play   into the equation now that they are emerging asset  classes um it's one of the the highest growth   asset classes that we've had especially in modern  history and the reason is is primarily the the   hype and frenzy around it that was part of the  initial days when you started hearing stories   about people becoming overnight millionaires and  in some cases billionaires from cryptocurrency   it's one of those headlines that just you know  ultimately grabs your attention um I'm heavily   invested in NFTs uh and cryptocurrencies I'm  extremely selective in the ones that I actually   invest into there recently as you may or may not  be aware there was a big crypto crash as they they   call it uh but this is something that historically  happens um every few years or so where you'll have   a huge regression or draw down uh in the market  cap of these companies and you'll have a large   amount of investors that pull out uh and basically  you're able to kind of manipulate the market so   I think what we're seeing right now is really what  I call the the great shaking right it's similar to   back in in uh early 2000's kind of turn of the  century where you had the dot-com bubble where   you're going to end up with a few companies or  a few currencies cryptocurrencies that are going   to be around for the long term those are the ones  that provide a maximum amount of value and utility   those are primarily your top 10 uh coins such  by market cap and so those are the ones that   I think will be around long term but I think the  majority of them you know there's over 10 000 now   uh fall off the face of the earth and and go  to zero and so you know it's extremely risky   right now just because of the existing  climate and kind of the economic downturn   uh it's a great buying opportunity you know you  had bitcoin up by almost uh it's seventy thousand   at the all-time high I think it was e6 almost six  seven thousand uh it's down to twenty thousand   that's one that over the next three to  five years it's gonna go back to that   uh historical high if not surpassing it so you  know again there's so much being done uh around   web three and around NFTs and  around cryptocurrency that   user adoption still has not caught up with the  innovation and if you look at things like uh the   creation of the automobile right eventually  the automobile the the manufacturing of the   first vehicle from the time that the first vehicle  was manufactured it took almost 50 years to reach   public mass adoption and so if you look at  other innovations like the internet for example   you know it took another 25 years for the internet  to be commonplace and achieve mass adoption so   what we're seeing here is those adoption cycles  get much shorter and so we're still extremely   early on within the process but I think it's  going to be commonplace and and tied into   part of everyday finance and so many different  other applications uh here in the next decade   and so obviously a lot of barriers that have to be  overcome but in my mind uh it's a certainty I just   that was really interesting because I was reading  your profile right and I knew that you were   involved in NFTs and blockchain and such so it's  interesting to see especially since it looks like   you're a guy who's got a diversified portfolio  you got your real estate stuff going on there   you got your and this is really what I thought  about investment I mean you're basically investing   in startups back in startups owning startups  that yeah you run but eventually you sell off and   that's a great investment so I was wondering how  much you were diversifying when I mean you're   you're really invested hands-on in the in the  startup space yeah I mean I mean most of it   and again if it's technology if it's business  I'm there um you know keeping up with with the   latest in trends is something I have to do  understanding what innovations are hitting   the market uh what the market is expected to do  everything from ar vr mr you know you name it   becoming intimately familiar with those  technologies and how they can impact the existing   operating environment and also what opportunities  exist as a result those are all things that I you   know am passionate about and stay up to date on  but of course there's still the the old tried and   true uh index funds and all the other fun stuff  that you know you got to have your safe place   uh while also going and realizing that hey if and  when I retire it's going to be however long from   now I've got a lot of time to really focus on  high growth uh investing yeah fun but that's a   whole different conversation but I'm glad at least  to touch into it hey is there anything else that   you just want to leave the audience with today you  say hey to advance I want you to think about this   yeah the the the biggest thing and I hear this  advice so often from from leaders from influencers   and a number of other well-known people they  always say the trick is to just get started   and I hate I hate hate hate that advice um because  to get started you need a vision you need a plan   right so the again you're asking someone to  kind of jump into the middle of something uh   just to be in the habit of of doing but you still  need to have that foundational understanding of   what it is that you're trying to achieve who it  is that you're trying to serve who your audience   is so that you can go out and actually attack  the market so before you just start understand   what you're starting spend time doing the  deep work so many challenges so many problems   can be avoided uh not just in your professional  career but in your personal career as well   just by taking the time to do the research  uh and to focus on those those activities   you know I think that's that's a great insight  because I shared my entrepreneurial story with   you in some ways I just started now it was it  was a side hobby for me so it's quite literally   like my extra time I'm doing the stuff I'm just  doing it for fun and I didn't have a vision I   wasn't planning on becoming like nowadays I have  executive communication clients around the world   that are who's who and I have books that are  being sold and TEDx booked all kinds of stuff   but I had to go back because I started and  then had to thought think what am I doing   and I literally had to go backwards and  create systems because I didn't have any   yeah and so I'm not I'm not saying spend all  your time investing in and building the systems   up front right and in your case your story's a  little different just similar to how mine was   I had an existing career I had my my financials  and everything covered there was less risk when I   started it because I started as hustle too yeah um  but I mean for people I see a lot of people that   just go quit their job because they want to  do something it's like you know you've got to   evaluate some of those those life choices um in  advance but even for you you didn't start from   scratch you started from experience right um you  had that 20 years of experience that kind of led   you to that point so a lot of the challenges  that I'm sure you faced in your business you'd   already been familiar with from your professional  career and then going back and just jumping into   it it's like okay hey I wrote a book and now I'm  starting to get all this attention and and it's   growing from here I'm going to jump into coaching  because it's a logical progression you know those   things again it's very different from someone  starting out and just saying okay I don't have any   experience as an entrepreneur uh a lot of times  you have people that don't even have experience   you know managing other people running a business  yeah um you know in in that from that perspective   it's the it's a dangerous bit of advice I  love doing it as a side hustle I think that's   and then building it from there I interviewed  a guy from diesel laptops not too long ago   and it was very interesting I mean he did this as  a side hustle I think it teaches grit it teaches   determination it teaches time management because  you're doing it on the side it teaches a lot of   these different things and passion like if you  don't like it get out exactly exactly and there's   always that that kind of safety net which you  know is a double-edged sword in itself because   you have some people that have the mindset of  oh hey if this doesn't work and they plan for it   not to work uh versus the I'm gonna do whatever  it takes right in my free time to actually make   this work and so i think a lot of that goes back  to mindset but but you're absolutely right i mean   i would tell clients all the time like hey don't  quit your day job like let's move forward let's   let's understand how you can make the time and  and identify um things that you can eliminate   uh in order to kind of get this rolling and yeah  absolutely once it's there once you can afford to   replace your salary or the majority of your salary  or what it takes you to be comfortable uh or your   family to be comfortable in a lot of cases um then  it's time to step away and start focusing on that   solely that's fantastic Patrick this has been  great hey where can people find you where can   people uh find out about your podcast coming  up absolutely you can find me on a LinkedIn,   Instagram pretty much anywhere where you consume  content already I've got a podcast launching next   month called guaranteed to grow it'll be basically  walking people through in the end how to start   uh how to scale a a software company and so  definitely check me out there uh also do a lot   of coaching for young entrepreneurs that want to  make sure that they get it right out of the gate   basically just helping to do de-risk all  the startup activities that come along   with running a business where's the website for  that sas partners dot io s-a-a-s partners dot io   check me out there you can click on the guaranteed  to grow tab and see uh everything from coaching   services to applications to actually be part of  that program where we ensure growth uh in the the   uh our clients companies that's great well thank  you Patrick and we'll put all of those in the   show notes and on YouTube but really great  thanks so much for being on the show today   absolutely thanks so much for having me mike's  been a pleasure and to all of our listeners and   our viewers thank you so much for taking time  to check this out make sure you like subscribe   comment and share check out the show  notes and all the different places that   Patrick just talked about until next  time it's been mike acker with advance Thanks for listening to advance with a podcast  designed to provide an edge for leaders through   improving practical leadership skills and  increasing confidence in speaking mike is a   best-selling author and business owner who has  helped many leaders increase their skills and   their confidence propelling them to new heights  in their personal and professional endeavors   join an incredible group of professionals  taking the steps to become better leaders   at connect.steps2advance.com don't forget to rate  review and subscribe so you never miss an episode.