EP 097: Recent Breakthroughs That Levelled Us Up

Let’s call a spade a spade…

Business is volatile and unpredictable.

From what we have seen over the last few years, anything can change overnight.

And as business owners, the pressure is on us to adapt or die.

Whether that means pivoting your business model, changing delivery structures or finding a new marketing channel.

It’s something that Grant has seen first-hand.

In this week’s podcast episode, Grant shares his experience of:
– removing the CEO from his business
– rightsizing the team (by parting ways with over 10 Melbourne-based team members)
– getting the company back in the black

At the time, he had almost all of his wealth in the business…

Even after the change of guard, the direction it was headed was uncertain
(to say the least)

Despite being confident in the decisions he was making after the large shift,

He still had doubts that the business would make it through.

However,

Looking back, now…

It was a defining moment for him.

It was the time he started to realise what he was missing…

The need for a safety net…
Outside of business.

Not because he didn’t believe in himself…

But because running a business is risky.

It was his plan to mitigate risk and provide financial security for his now wife, Hazel.

And the way he looked at it…
Something was better than nothing.

His experience was similar to my own.

When I was growing up, my father ran his own business…

Consequently…
Everything he owned was stored in that business.

So when the business didn’t go as planned…

He lost everything.

He was reliant on it for his retirement

After seeing this as a kid, I knew I needed to diversify my wealth outside my business.

So, I invested in property.

Now…

I did invest hard to improve the business at the start…

And I did go all in regularly…

But it wasn’t long until I was reminded that…
Business is risky.

If something were to happen to my business…

Having an external income stream could be the difference between providing for my family and starting over again.

That’s not a risk I’m willing to take.

In this podcast episode, Grant and I will be discussing the things that had the biggest impacts on our businesses that levelled us up and what we have done more recently.

DISCLAIMER:
All information we share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision