E18: Chandler Reed (@ChandlerReedSMB) went from never running a business before to buying his first SMB through a random opportunity on Twitter.

Within the first 12 months he 4 X’d revenue, tripled head count and felt on top of the world. But then the market took a dive, wiping out most of his gains and leaving him with a monster task to turn the ship around.

Fast forward till today and he did just that, and in the process sharpened his entrepreneurial skillset.

Now he’s running a small business accelerator, SMBootcamp, which teaches first time time acquisition entrepreneurs how to acquire a business the right way in 6 to 12 months.

Join host Jake Richards (@JakeMRichards) as he sits down with Chandler to uncover Chandler’s proven business buying system.

Topics discussed:

• Why you should buy not start a business
• The 5 key deal filters for making a successful SMB acquisition
• What are the red flags in an acquisition target to avoid on your search
• Perfecting your search avenues: Broker search vs finding off market deals
• Developing training, processes and checklists to maintain consistency at scale
• How to convince investors to support your business acquisition search as a first time buyer
• How to negotiate a fair price once you’ve found the business that meets your criteria
• How and when to play offence vs defence in business to capitalise on the market conditions

This episode lays out the entire proven system Chandler’s clients have used to buy their first business. If you’re interested in acquisition entrepreneurship you are in for a treat.

Follow along on Jake's SMB journey:

Twitter: @JakeMRichards

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E17: Malcolm Marshall (@MalcolmPools) went from burnout 9-5er working 70 to 110 hours per week, to scrambling stressed out new business owner, to seasoned entrepreneur generating $16 million per year in revenue.

How did he do it?

Building and servicing pools.

But it wasn’t straightforward. In fact, Malcolm’s day one strategy didn’t go to plan. He had to pivot… Big time.

But when it clicked the business took off.

Join host Jake Richards (@JakeMRichards) as he sits down with Malcolm to unpack his pool business journey and pull out the lessons learnt to help you quit your 9-5 and succeed in small business ownership.

Topics discussed:

• How to develop operational excellency in your home service business
• How to build a first class customer experience: The power of small wins
• How to develop a world class training program to build your rockstar team
• Lessons from implementing Gino Wickman’s Entrepreneurial Operating System (EOS)
• The foundations you must know as a new business owner in the pool service industry
• How to launch a $150k/year 1 person pool cleaning business with only $5,000 investment
• The best way to launch a pool service business: Buying an existing route vs starting from scratch
• Why Malcom is 7x’ing his marketing spend in 2024 and how you should think about SMB marketing
• How to transition from start up SMB to premium priced market player without sacrificing sales

This episode is loaded with nuggets of wisdom for entrepreneurs of all experience levels. Whether you’re a burnt out 9-5er looking for a proven path into small business ownership, or a seasoned entrepreneur wanting to take your operation to the next level, Malcolm has just the battle tested advice you need to hear.

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E16: They say everything is bigger in Texas. And today's guest Nolan Gore (@LeadershipAcad1) has built one of, if not the biggest landscaping businesses in Texas. So rest assured we are talking with a serious operator.

But despite the success, Nolan has had his fair share of struggles. And in today's episode he breaks down what uncomfortable realities you are going to need to face if you want to win big in small business, and most excitingly, the battle tested strategies and principles to do so.

From managing the emotional rollercoaster of your first business acquisition to the intricacies of optimising your ideal sales cycle for your unique business model, Nolan's insights are gold for anyone looking to get their start in the SMB space. Learn how to find solid operators, incubate smaller businesses for increased success, and implement systems that really work.

Topics discussed:

• Understanding and navigating the SARAH cycle of emotional change
• How to manage large-scale transitions within your business
• Incubation model for SMB success: Finding solid operators and teaming up
• The uncomfortable realities of SMB ownership and how to prepare yourself
• Systemising your small business for efficiency and growth
• When and how to implement robust systems like EOS
• Excelling in various landscaping business niches
• Optimising your sales cycle to match your unique business model

Nolan also shares his blueprint for creating an $8.5 million per year landscaping operation, offering an authentic look into the challenges and victories of SMB ownership.

This episode is a masterclass from someone who’s been there and done it, providing an honest look into what it takes to run a successful small business. If you're considering launching into the SMB space or are already on your way, this episode is packed with invaluable lessons.

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E15: Have you been overlooking blue collar businesses? If so, you could be missing out on a multi-million dollar opportunity. But to fully capture this opportunity, you need the right 21st century technological strategy.

Join host Jake Richards (@JakeMRichards) as he dives deep with Malcolm Peace (@peace_malcolm), an entrepreneur that specialises in transforming traditional blue collar businesses through technology, remote talent, and strategic planning.

From leveraging AI to systematising operations with virtual assistants, Malcolm shares a masterclass on modernising blue-collar businesses. His insights not only reveal the untapped potential in these industries but also provide a roadmap for small business owners and investors to achieve unprecedented growth.

Topics covered:

• How to implement AI effectively in small businesses
• Key financial metrics every entrepreneur should monitor
• How to use VA’s to document and systemise your operations
• How to conduct industry research when buying a business in a new industry
• 3 actionable steps to motivate and inspire your team to compete at the highest level
• Implementing key performance indicators (KPIs) for staff performance and business health
• Building operational efficiencies through low code, no code software in traditional industries
• The essential tech tools every small business owner should consider to put their business growth on steroids
• What first time business buyers need to know to get due diligence right and avoid buying a dud business

Malcolm’s innovative approach to growth, makes this episode a goldmine for anyone looking to pivot from traditional methods to a tech-savvy, systemised business model.

Don't be the one who underestimates the potential of blue-collar businesses. Let Malcolm Peace show you how these industries offer not just financial upside but also a chance for real meaning and purpose in your entrepreneurial journey.

This episode is a must-listen for anyone interested in leveraging technology to breathe new life into traditional industries, ensuring their legacy and profitability for years to come.

Follow along on Jake's SMB journey:

Twitter: @JakeMRichards

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Resources mentioned:

https://tsetserra.com/

E14: In today’s episode, I dive into the critical steps we've taken to address and resolve the growing pains within our expanding small business.

Facing issues head-on is tough, especially when you're caught up in the day-to-day operations. Yet, ignoring these problems only compounds them, leading to inefficiencies and a frustrated team.

I share a comprehensive three-step process we’ve recently introduced that has transformed how we identify, tackle, and resolve issues, ensuring our business operates more smoothly than ever before.

This is episode is designed to help you become an issue tackling machine in your small business to remove your blockers, unleash your team, and ultimately fuel more growth.

Topics discussed:

• The 3 step process for resolving issues our business just implemented
• Serial entrepreneur Gino Wickman’s 3 types of Issues Lists to help streamline the process
• And the mega simple technology stack I implemented to make this system easy to adopt and manage for the team

This episode is packed with practical insights and strategies that have not only been a game-changer for us but have the potential to revolutionise how you address issues within your own business. Whether you're just starting out or looking to refine your existing operations, these lessons are invaluable.

Enjoy, and let's tackle those issues for good!

Resources referenced in this episode:

• Traction: Get a Grip on Your Business by Gino Wickman

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Twitter: @JakeMRichards

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E13: Have you tried a bunch of different businesses and still haven’t found the one?

Are you yet to him a home run and find your first break out success?

You might want to consider starting, or buying, an ice-cream shop.

That’s what today’s guest Shawn Allard did.

He bounced around from real estate, to a rental car business, to dental consulting.

But he couldn’t get any traction.

So naturally he bought an ice cream shop.

3 locations later, a coffee shop on the way and business buying opportunities flying left right and centre at him, Shawn has found his lane and is expanding rapidly.

Topics discussed:

• How to creatively put together off market deals
• Growth strategies for scaling food and beverage businesses
• How to negotiate seller financing with potential business sellers
• The three foundational buckets to run a food and beverage business successfully
• The three customer acquisition strategies to grow your food and beverage business
• Leveraging the power of small business meet ups to find potential partners, investors and businesses to buy

If you want to get into the food and beverage small business game specifically, or you’re struggling to find the right business to launch your entrepreneurial career,

Shawn lays out the practical game plan with step by step guidance to get firing in this game. Enjoy!

Follow along on my SMB journey:

Twitter: @JakeMRichards

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E12: In today’s episode, I make the counterintuitive case why being ‘unimportant’ as a small business is actually a good thing.

Had I have known this advice earlier I would have grown my last business a lot more than I did.

I would have targeted a totally different market right from the start, with a different offer and made a lot more money.

Now I’m leveraging this knowledge going into the next small business - which I started this week by the way and talked about in this episode.

Topics discussed:

• The top qualities to pursue for your business' target market

• The 2 paths to SMB unimportance and why you should consider them

• Why you should aim to be as financially insignificant to your customer as possible

• What I learnt about nailing an ideal customer profile building a content agency for top 1% content creators

This episode covers the most unexpected, yet surprisingly effective business advice you’re likely to hear this week...

Become unimportant to your customers. Enjoy!

Follow along on my SMB journey:

Twitter @JakeMRichards.

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E11: Tech Venture Capital is the big leagues where billion dollar valuations are the norm and the behemoth companies that we now can’t live without are born. But what do venture capitalists know that the rest of us don't? And what lessons from this space can give us an edge to dominate the world of small business investing and operating.

Today’s guest is as certified as it gets to answer these questions. Today we’re speaking with Elizabeth Knopf, an M&A investor and operator with over 15 years of experience in the tech industry, including 6 SaaS exits - 1 of which was an IPO, scaling a 9 figure tech company to more than $1 billion in ARR, launching an ecommerce marketplace in Latin America to over 7 figures in only 9 months and over +$40M of capital invested. She’s facilitated mega transactions on companies like Facebook and Groupon, and now she’s leveraging her Venture Capital and Start Up skillset to crush small business investing.

Topics discussed:

• Small business deal sourcing best practices

• 3 key reasons to consider a government contracting business

• Career intentionality and seeking upside through equity as an intrapreneur

• How to capitalise on the multi-billion small business tech-tsunami opportunity

• How to build an exit ready business to go from business operator to owner to investor

• Step by step process for building out your small business buying deal sourcing engine

• How to negotiate the transition with the past business owners to protect your downside risk

• Creative strategies to get into deals and transaction opportunities beyond traditional M&A

• Geo-cloning start up strategy for cloning successful US business models in foreign markets

• How to determine whether starting vs buying a business is the right path for you out of your 9 to 5

• How to identify and exploit your unique competitive advantage to maximise your small business acquisition’s potential

This episode breaks down the venture capital industry’s inside secrets and details how to apply them successfully for small business investing.

You are in for a treat with this one. Enjoy!

Follow along on my SMB journey:

Twitter: @JakeMRichards

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E10: In today’s episode, I break down the 5 step process I used to build a remote team for my last business: a content agency

I’ll be honest with you… The first time I tried to build a remote team I failed miserably.

But I overcame problem after problem and painfully up-skilled myself to eventually grind my way towards a system that worked, at least for me.

Thanks to this system I spent the past 4 years living in France and travelling the world.

But you don’t need to be a digital nomad to benefit.

Whether you’re a retail store owner, a manufacturer, a software company, a plumbing business or any other business owner you can imagine, you can use remote talent to grow your operation, cut costs and drive more results.

Topics discussed:

• The top 4 online platforms for sourcing remote talent

• Building your hiring funnel: Job posts vs direct outreach

• 3 part framework for creating efficient systems and processes

• Creating expectation clarity through clear & aligned incentives

• Overcoming communication bottlenecks with remote team members

• $2 million per year remote home service business owner's 6 step framework for writing killer job posts

This episode covers 3 years of hard earned lessons compressed into 20 minutes.

Use it to fast track your success and unlock the golden opportunity of building a remote team. Enjoy!

Follow along on my SMB journey:

Twitter @JakeMRichards.

Sign up to the Salary to CEO Newsletter to catch exclusive behind the scenes content, small business tips and reminders when each episode releases:

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Resources mentioned:

• Blue Ocean Strategy Book

• Neel Parekh’s 6 step framework to write a killer job ad

E9: If you’ve read an SMB acquisition book you would have been warned that the search normally takes between 1 to 2 years. But what if you were only 4 months of dedicated focus away from closing on your first business purchase?

Well, today’s guest Zach Smith (@RZachSmith) not only proves it’s possible, but he also lays out the blueprint of how you can do the same.

The best part is this conversation was recorded only 2 months after Zach had taken over his new business. All of the highs and lows of the business buying process, as well as the strategies that worked best, were fresh in his mind.

Topics discussed:

• Process debt: The downside of buying an existing business

• Modelling your risk profile to nail your ideal business acquisition

• Transitioning from consultant solopreneur to acquisition entrepreneur

• Acquiring ‘Uber-esque’ companies with a marketplace business model

• Aligning your corporate skillset to your ideal business growth opportunity

• Negotiating seller financing with incumbent business owners

• Pros and cons of asset purchase vs stock purchase in acquiring businesses

• The most important question to ask yourself throughout the acquisition process to stay on track

If you’re in a regular 9 to 5 job right now, but the idea of buying a business excites you - you could be in Zach’s position in 6 months from today simply by executing the lessons from this podcast and the resources recommended by Zach.

Follow along on my SMB journey:

Twitter @JakeMRichards

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E8: In the last episode I spoke with content creator, entrepreneur and venture capitalist Joe Pompliano whose newsletter Huddle Up has amassed over 120,000 subscribers and launched his entrepreneurial and investing career.

Joe’s success building audience-first businesses starting with a newsletter, inspired me to launch my own as a companion to this podcast.

This week I spoke with Newsletter Content Creator Daniel Roman (@idanielroman) to get some advice. He’s like the inception guy of newsletters. He writes a newsletter about writing a newsletter.

The following episode contains the juiciest excerpts from our conversation that you can steal to launch your own newsletter the right way.

Topics covered:

• The best beginner newsletter platform to choose

• Creating effective lead magnets for newsletter subscribers

• Newsletter content strategies to become a top 1% newsletter

• A little known secret for launching your lead magnet to new audiences

• Optimising your newsletter deliverability through email list management

• How to optimise your social media profile for more newsletter subscribers

Whether you’re a podcaster like me, a real estate agent, an online marketer, a landscape business owner or a content creator - this podcast episode is going to help you learn how to grow your email list through newsletter and build your online audience, to ultimately sell more products and services.

With the right consistency and implementation of these lessons, who knows…

You could be the next Joe Pompliano.

Follow along on my SMB journey:

Twitter @JakeMRichards

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E7: You’ve got big dreams for your life. And you want to build a successful business to make those dreams a reality. But right now, that feels a long way off. But what if it wasn’t?

What if there was a path where you could leave your current job within 3 months and be on a totally different trajectory? A path that required zero capital, network or reputation to get started?

And what if within 5 years that path brought you wild business success and a life on your own terms?

Join host Jake Richards (@JakeMRichards) as he sits down with world class content creator, entrepreneur and investor Joe Pompliano (@JoePompliano) to uncover how you can dominate the new age of entrepreneurship through audience-first businesses.

Joe went from a regular guy working in finance to building the business of his dreams. And he made that possible by first starting with audience. Only 3 months after starting to post online, Joe had built enough momentum to quit his job all together and went all in on content.

Fast forward to today and Joe’s dominated the sports business niche. He’s amassed over 1 million followers across all social media platforms. He features on major tv networks like ESPN and NBC. He’s got the number 1 sports newsletter on substack called huddle up with over 120,000 subscribers. He’s worked with F1 teams like Mclaren. He’s interviewed people like Dana White, Gary Vee, Francis Ngannou, Lance Armstrong, Ryan Garcia, Barcelona FC president Joan Laporta, the list goes on and on.

And off the back of all of this success, Joe’s unlocked his biggest dreams in venture capital. Thanks to his audience first approach he’s got access to invest in companies like Airbnb, Reddit, Underdog Fantasy, The Premier Lacrosse League and so many more. All in 5 years.

Discover Joe’s advice for how you can bridge the gap to your dream life by building audience first businesses.

Topics discussed:

• The content creation playbook to quit your job in 3 months
• The 2 must have ingredients for explosive social media audience growth
• Building an audience-first business: The new age model of entrepreneurship
• How to design your dream life: time & freedom vs building something bigger than yourself
• Behind the scenes on investing in ventures like a bagel franchise and the Premier Lacrosse League
• Joe's frameworks for selecting investment opportunities and assessing risks

You’re a lot closer than you think to realising your biggest business ambitions. If you understand and apply Joe’s Audience-Business-Investment framework you too can make your dreams a reality.

E6: In today’s episode, I break down a $450 million entrepreneur’s contrarian advice for getting into small business ownership.

There’s only 2 ways to get into business right?

1. Start a business
2. Buy a business

WRONG!

There’s a 3rd path that this world class entrepreneur swears by and says that everyone he knows who's won at the highest level has followed.

I explain how I’m using this approach to enter my next business, and outline the steps for you to do the same.

As well as layering in some additional tools like the permissionless apprenticeship to supercharge this opportunity.

Topics covered:

• Why a $450m entrepreneur advises against starting or buying a business and what to do instead

• How to Build Relationships With Industry Titans Using The Permissionless Apprenticeship

• How to creatively get equity in high quality small businesses with no money down

This episode breaks down the 3rd path into small business ownership that you can use to dramatically increase your probability of success, save yourself hundreds of thousands, potentially millions of dollars in start up or acquisition costs and avoid the painful mistakes that’ll put you out of the game long term.

Especially if you’re a first time business owner.

Follow along on my SMB journey:

Twitter @JakeMRichards

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Resources mentioned:

• Jack Butcher’s Permissionless Apprenticeship

• @visualizevalue

E5: Miguel Contreras (@Miguel90Cont) was sitting around waiting for his real estate license when his wife walked in:

“Why don’t you take your truck out and pick up people’s junk. You can probably make some cash.”

Boom! $10k in the first month. Wait a second there’s something here.

Then:

3 months → $15k/month

6 months → $25k/month

18 months → $50k/month

Host Jake Richards (@JakeMRichards) sits down with business owner Miguel Contreras to unpack the ultimate boring business… Junk Removal.

But don't be fooled...

It's not as simple as taking your truck out and picking up rubbish. Miguel’s implementing a sophisticated and aggressive system that any service business owner or future service business owner can apply.

Topics covered:

• Mastering the ‘Pyramids of Competence’

• Battle tested sales strategies to upsell your clients

• How to build a high performance culture that your team loves

• How to charge (and deserve) premium pricing in your service business

• Self awareness vs environmental awareness when scaling your business

• First 6 month game plan to launch a $50k / month garbage removal business

• Miguel’s mentor’s insider secrets to build a $2 million per year junk removal business

This episode is a must-listen for those seeking a straightforward cash flowing business. With minimal capital invested, and some basic business skills, even a first time entrepreneur can be profitable from day one and on their way to building a junk removal empire like Miguel.

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E4: Ever had a killer business idea hit you out of nowhere, making you feel like the next Elon Musk, only to end up doing nothing about it? Or maybe you got pumped, picked a name, bought a domain, and then... nada. Sounds familiar? You're not the only one stuck in 'idea-preneur' mode, where great ideas never see the light of day.

Join host Jake Richards in this episode of the Salary to CEO Podcast, as he tackles this head-on with a game-changer: the 12 Week Year system.

Jake breaks down how this system helped him move from just thinking about a podcast to actually launching it. It's not just for business either – this thing can turbo-charge any goal you've got.

Topics covered:

• Breaking Out Of 'Idea-Preneur' Mode

• The Flaws Of Annual Goal Setting And What To Do Instead

• The 12 Week Year Overview: How To Get More Done In 12 Weeks Than Most People Do In 12 Months

• The Secret Sauce To Actually Executing And Staying On Track: A Bullet Proof Measurement System

• Developing A Compelling Vision To Navigate The Emotional Cycle Of Change

• What Criteria To Use For Effective Goals & Tactics

Whether you're aiming to launch a business for the first time or just want to hit some personal targets, this episode's got the goods to get you there in under 12 weeks.

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Twitter @JakeMRichards

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E3: What would your life look like if you could build multi-million dollar businesses around the things you love and hobbies you can’t get enough of?

How much more joy would you have if you could tie your financial freedom to your personal passions.

Is it even possible? And if so, how should you get started?

Join host Jake Richards (@JakeMRichards) as he sits down with personal holding company expert Yong-Soo Chung (@YongSooChung).

From a humble start sleeping on an air mattress in his friend’s San Francisco apartment, to building what he calls a “lifestyle business on steroids”, Yong-Soo has transformed his hobbies into a staggering $6.5 million annual revenue business portfolio.

Discover his innovative strategies for turning everyday passions into a thriving Personal Holding Company, and learn how you can do the same.

Topics discussed:

• The Personal Holding Company philosophy
• Why solopreneurship is a bad idea and what to do instead
• How to turn your business cost centres into profit centres
• Mastering Yong-Soo’s proprietary MAPS framework for scaling business success
• How to spot and ride emerging macro trends to launch profit maximising companies
• Designing your own unconventional path to turn your hobbies into multi-million dollar businesses
• A little known credit card cash back strategy Yong-Soo is using to generate $120,000 in yearly tax-free income

This episode is a must listen for any Personal HoldCo. curious entrepreneur, as well as any individual who wants to build a successful business around their life and not the other way around.

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E2: In today’s episode, I expose the flaws of starting a passion business and propose an alternative path to uncover your ideal business fit.

Conventional wisdom goes:

“Find your passion, turn it into a business and never work another day again in your life.”

I explain why starting my first business taught me otherwise, as well as supporting this with lessons from renowned entrepreneurs.

I’m sharing the 2 key questions to ask instead as well as SMB Buying Expert, Walker Deibel’s Personal Career Audit tool you can implement to identify the business uniquely suited to your strengths.

I wish I had these tools and strategies 4 years ago when I was starting out in my entrepreneurial journey.

Topics discussed:

• Insights from my own business ventures and mistakes

• Why 'Following Your Passion' is flawed business advice

• The two essential questions to identify your ideal business

• Lessons and tools from entrepreneurs like Alex Hormozi, Patrick Bet David, and Walker Deibel

This episode covers some fundamental lessons earned in the battlefield of entrepreneurship that you can use to avoid mistakes I’ve made. Enjoy!

Follow along on my SMB journey:

Twitter @JakeMRichards

Joe Rogan episode with White Oak Pasture's Will & Jenni Harris

E1: How do you buy your first SMB? What qualities should you be looking for in a business? And how do you avoid making a multi-million dollar mistake acquiring it?

Today, host Jake Richards (@JakeMRichards) sits down with 6-time business buyer James Richardson (@bizbuyingbrit), who went from salaried employee to building a $15 million per year business portfolio, in just 18 months! James shares the exact strategies he used to launch his career in acquisition entrepreneurship, the subsequent lessons learnt and how you can replicate his success.

Topics discussed:

• Start-ups vs buying established businesses
• Setting your business buying strategy: Solo-Biz Operator vs Multi-Biz Portfolio Owner
• What key business criteria to target in your search
• Pros and cons of different business types: service, manufacturing, etc.
• How to avoid overpaying for your first SMB acquisition
• How to build your investor network and bring on outside capital
• Financing SMB acquisitions

This is a business buying masterclass you won't want to miss!

Follow along on my SMB journey:

Twitter @JakeMRichards

Check out James' podcast here: Business Buying Brit Podcast

Welcome to the Salary to CEO Podcast, the show to take you from 9 to 5 to small business owner.

Host Jake Richards sits down with world class entrepreneurs and investors to uncover their secrets on how to launch, acquire, scale and sell SMBs to generate life changing wealth.

Dropping in your feed every Tuesday, join Jake to unlock the opportunity of small business ownership.