#272: Paper Wealth & Lottery Tickets with Andres Moran

October 28, 2021 01:06:32
#272: Paper Wealth & Lottery Tickets with Andres Moran
Intentional Growth
#272: Paper Wealth & Lottery Tickets with Andres Moran
/

Show Notes

On today’s show, we’re going to dive into Andres Moran’s entrepreneurial journey and the lessons he learned from three exits, particularly as they relate to the various roles an owner can play.

Currently he is the head of a division at WunderKind which is a SaaS company that helps ecommerce companies decrease their bounce rates and shopping cart abandonments. Prior to WunderKind Andres was the co-founder and Head of Business Development of Fundera - which was sold to NerdWallet. Fundera is a SaaS platform that compares multiple small business loan options at once (think Kayak for business loans). Andres had two businesses prior - his first company was a medical spa in Miami that he started with his sister, which was acquired several years later. His second venture was an online exercise rewards company called Earndit, which was acquired in 2013 by Higi, a company that measures and attaches a score to your personal health.

We’re going to be diving into Andres’ entrepreneurial journey and the lessons he’s learned. One theme that continued to resurface was how important it was to understand the different roles we all play as business owners and entrepreneurs - and that is the difference between the job we have (our management role) which we get income for performing compared to our ownership role (our equity as an investor) and how these two roles need to be separate and dealt with differently. Both of these roles need to be designed based on the stage of the company and the personal needs of the founder. They need to be aligned with the future potential for value creation in the company (what Andres refers to as a lottery ticket or paper wealth) and the need to have our desired level of personal income.

There is no universal prescription for this challenge but one thing is for sure - you need to understand the differences between these two roles and all the decisions that come with them. There is no better way to learn than to hear someone else’s story OR  by taking the Intentional Growth™ online training

 

What You Will Learn 

 

Bio:

Andres Moran is a serial entrepreneur with three exits under his belt. Currently, he is the head of a division at WunderKind, a SaaS company that helps ecommerce businesses decrease their bounce rates and shopping cart abandonments. Prior to WunderKind, Andres was the co-founder and Head of Business Development of Fundera, which was sold to NerdWallet. Fundera is a SaaS platform that compares multiple small business loan options at once (think Kayak for business loans). Andres’ first company was a medical spa in Miami that he started and sold with his sister. His second venture was an online exercise rewards company called Earndit, which was acquired in 2013 by Higi, a company that measures and attaches a score to your personal health.

 

Quotes:

12:33 - “We never reduced our pricing. I’m very averse to discounting. I’m much more in favor of premium pricing, premium product, premium experience.” - Andres Moran 

17:05 - “Yeah, it gets tricky when you start talking about both the cash compensation and the equity compensation.” - Andres Moran

19:54 - “We, unfortunately, found ourselves in a commodity business, when, in the beginning, we did not believe it was going to be a commodity business but it became one, unfortunately.” - Andres Moran

20:05 - “I like businesses that operate in a, sort of, gray area of regulation.” - Andres Moran

20:56 - “If you’re in a commodity business, you better have a strong brand.” - Andres Moran

31:46 - “When it’s private company equity, there’s that extra step of, ‘Well, now we need a line on your equity.’ That’s the conversation we need to do under the hood, right?” - Andres Moran

32:22 - “You’ve traded one lottery ticket for another lottery ticket, but don’t be fooled. You’re still just hanging onto a lottery ticket.” - Andres Moran

47:55 - “The maturity date on these lottery tickets, when you’re dealing with private company stock, tends to be several, several years.” - Andres Moran

49:34 - “Typically, if I’m working at a company I didn’t start myself, my mind starts to wander and go into more entrepreneurial endeavors. And so I get distracted. Wunderkind is not a company I started myself. However, I have a real strong sense of home here. A sense of belonging. A sense that I am making an impact in the company.” - Andres Moran

 

Links and Resources:

Wunderkind

Andres Email: [email protected]

LinkedIn

Mastering Your Cash Flow Digital Course

ARKONA Boot Camp

Reach out to me if you have questions about the boot camp!

 

You can also reach out to me via email at [email protected], or on my LinkedIn.

Episode Transcript

No transcript available...

Other Episodes

Episode

June 02, 2022 01:10:27
Episode Cover

#303: The 10 Disciplines for Managing and Maximizing Your Energy with Rob Dube

EP. #3 [THEME ONE]   On today’s show we have someone who lives and breathes living life with intention. Rob Dube is the co-founder of imageOne, one of Forbes Top 25 Small Businesses in America, and on the list of the Inc. 5000.    Rob recently partnered with his friend and mentor Gino Wickman to create “The 10 Disciplines - manage and maximize your energy”. The 10 Disciplines helps entrepreneurs get unstuck so they can accomplish their long-term goals while avoiding burnout. Over the years, Rob has learned from top performers like Gino and Jack Stack on how to find your energy and focus on the things that matter, all based on “10-Year Thinking.”  If you are a business owner that feels stuck or is near burnout, get clear on what you want from your business and why by listening to Rob Dube give an overview on “The 10 Disciplines” on how to manage and maximize your energy.   // WATCH THE INTERVIEW ON YOUTUBE: Intentional Growth™ Podcast   What You Will Learn What “The 10 Disciplines” are and how they help you manage and maximize your energy. The difference between 10-year thinking and goals. What led Rob to understanding what he wanted from his business and why. Why mindfulness and meditation is a huge core value in Rob’s life. What optimal life means and how it translates to what you want from your business and why. The definition of energy and how it’s used in the context of high performing. ...

Listen

Episode

November 27, 2019 NaN
Episode Cover

#173: Growing and Selling a Company from the Integrator (2nd in Command)'s Perspective

If you’re listening and you own a company, and you’re trying to figure out how to handle conversations with your second-in-command, align your objectives with your eventual growth and exit plan, or if you’re trying to figure out how to hire a second in command, this is the show for you.  Today I’m talking with John “JT” Thelan, who used to work in Corporate America as the second-in-command for a company that (under his wing) grew from 4 mils to 10 mils in revenue, then helped sell the company for 11 times EBITA. JT explains what the process was like, what it’s like being in the head of a second-in-command, and how to make sure that everyone is on the same page. What you will learn: Who is JT and what is his background in business? The key metrics that JT processed which helped him grow companies JT’s journey from sales and publishing to his most recent position How to find a good second-in-command JT’s preferred onboarding procedures (onboarding is like dating) JT’s experience with bonus structure and normalized EBITA What it is like to be a second-in-command How to make sure everyone is on the same page Takeaway: The benefits of having a great second-in-command and the process of finding one. There are huge returns (as seen with Steve and JT) to finding a great second-in-command, getting on the same page, and compensating them correctly. It is worth so much money if you focus on value creation as it relates to ...

Listen

Episode

August 26, 2021 00:57:36
Episode Cover

#263: Lessons from a Serial Entrepreneur

On today’s show, I’m talking with Joseph Fung about what we can learn from a serial entrepreneur. Entrepreneurs often struggle with the idea of following their passion but also realizing that their businesses are an asset and are something they eventually will want to liquidate and tap into at some point. How do you make the change and social impact you want in addition to building your business as an asset? Can you balance these two aspects of running a successful business? Joseph knew from the age of 18 that he wanted to leave an entrepreneurial legacy. True to his goal, he has since started and sold five companies, with his biggest success going to NetSuite for $32M. He talks about his philosophies and how he balances sustainability and his version of conscious capitalism while also building businesses that are financially successful for him and for the future of the business beyond him. Joseph’s stoic and passionate perspective seeps into his approach to business and his advice to entrepreneurs. He’s an excellent example of how not having your identity tied to your business opens flexible and lucrative doors to success. If you’ve ever thought about what it would take to be a successful serial entrepreneur, this episode’s for you! What You Will Learn In Today's Podcast Interview  What helped Joseph—from early childhood—know that he wanted to be a serial entrepreneur Why defining what success means to you lets you make decisions more easily and keeps you on track for achieving goals How the type of business, funding sources and future buyer all influence valuations The ...

Listen