#248: Build a Business that Creates the Life You Want to Live

What are the biggest challenges all entrepreneurs face? The answer may surprise you. Today’s show focuses on how to build wealth and create fulfillment while avoiding burnout. Austin Brawner — host of The Ecommerce Influence Podcast and founder of the ecommerce entrepreneur’s community, The Coalition — makes a great case for doing fewer things so you can devote your time to what’s going to help you achieve your goals in life. We’ll even get into hiring and working with the right people, fostering an environment of trust and getting people to buy-in to your vision. The clearer that vision is, the easier it is to share with others and get them onboard. Today’s show is going to inspire you to be thoughtful about your freedom and joy and get you excited about mapping your company’s future.

What You Will Learn In Today's Podcast Interview

The biggest challenge all entrepreneurs face
How to build wealth and create fulfillment
How you structure your business can make you miserable and contribute to burnout
Trust is the most limiting factor
What sustainability has to do with success and fulfillment
What to do when you hit a goal you’ve pushed for and realize it wasn’t a worthy target
How much you’re enjoying the journey speaks to how fulfilled you’ll feel when you exit
The fallacy that you have to wear all the hats at once and what paradigm to use instead
Why you should think about how you operate to better operate your business
Partner with people who balance you, not just those whose work style match your own
Automate what you can and build a system to bring in new talent to add to your team
Why you should market for hiring, as well as sales
When hiring, why you should “Trust, but verify”
Why Austin uses the Kolbe Score to help find the right fit for roles
Get clear on what you value
Some of the most unhappy people Austin knew were making a lot of money
Be thoughtful about your freedom and joy
You’re playing different money games if you’re bootstrapped or getting funding

Are You Growing The Value of Your Business

Take The 2-Minute Assessment To Get Your Intentional Growth Score™ And 1-Page Vision Board.

Are your company's current initiatives intentionally designed to increase the value of the business?
Do you know what you want from your business long term and why?
Do you know what your company is worth?
Do you know the differences between Management, Family Transitions, PE Firms, ESOPs and Strategic Buyers?
Does the business have a written strategic plan on how to achieve the desired normalized EBITDA and valuation?

About the Guest:

Austin Brawner is the host of The Ecommerce Influence Podcast – with over 300 episodes - which focuses on advanced acquisition and retention strategies for the modern marketing executive. He has helped over 597 established ecommerce store owners, marketers, and freelancers unlock massive growth in their businesses while freeing up more time to do what they love through his coaching business and community called THE COALITION

Quotes:

05:55 - “How do you build a business that you love to work in? How do you build a business you can sell in the future? How can you build wealth in your life? And that allows you to build fulfillment in your life at the same time?” – Austin Brawner

06:26 - “Am I fulfilled doing what I’m doing right now? Am I doing the right thing? And am I doing it in a way that I can sustain over the long-term?” – Austin Brawner

09:09 - “As your business grows and you start to see there are different levels and you have to continually level up.” – Austin Brawner

13:00 - “Sustainability is really important to me. I want to be able to do the same thing I’m doing for 10-15 years without burning out. That to me is success.” – Austin Brawner

16:01 - “For me, like many entrepreneurs, freedom is a really, really big driver.” – Austin Brawner

17:10 - “Happiness is definitely not related to revenue.” – Austin Brawner

28:03 - “They get really good at marketing their product, but they don’t even think about marketing their business to people they want to bring in.” – Austin Brawner

36:55 - “I encourage people to take more time off... They have systems set up so that when he’s out golfing, the business continues to move forward and it’s a good tell for how well organized a business is.” – Austin Brawner

38:07 - “If you’re making more money and you’ve got less freedom . . . what is the point?” – Austin Brawner

47:55 - “If you can be in a position where you can do what you’re doing consistently over time, and be comfortable with the idea of selling it or not selling it, you’re in a wonderful position.” – Austin Brawner