#283: The Lucky Formula: How to Stack the Odds in Your Favor to Cash in on Your Success with Mark Lachance

January 13, 2022 00:51:35
#283: The Lucky Formula: How to Stack the Odds in Your Favor to Cash in on Your Success with Mark Lachance
Intentional Growth
#283: The Lucky Formula: How to Stack the Odds in Your Favor to Cash in on Your Success with Mark Lachance
/

Hosted By

Ryan Tansom

Show Notes

Ever feel like some business owners “just get lucky?” Somehow they’re in the right position to receive a windfall or somehow get ahead of the next big thing, though their operations don’t seem to differ much from your own. Why don’t you see any lucky breaks? This amazing episode with Mister Lucky himself, Mark Lachance, will show you exactly how to get lucky—on purpose—using the methods he developed through bringing multiple platforms into billion-dollar earners. Mark was one of the founding members of both VersaPay Inc and Pivotal Payments, helping set the course for these financial heavy-hitters.

 

In 2016, Mark successfully sold his last endeavor, EVO Payments International Canada—an end-to-end payment solutions provider and merchant acquirer which he founded in 2009 with only one employee. Currently, he is CEO of Maxy Media, a marketing agency that specializes in paid media on social platforms like Tik Tok, Instagram and Facebook. His ability to calculate and analyze risk, see the market for what it truly is and develop multiple platforms to capitalize on multiple markets makes him an excellent source of knowledge about marketing, blitzscaling and “getting lucky” in business. This episode is a story about how one entrepreneur kept taking strategic risks and the advice he has for other entrepreneurs ready to do the same.

 

What You Will Learn

 

// USE YOUR FINANCIALS TO CLARIFY A PATH TOWARDS A MORE VALUABLE BUSINESS: Intentional Growth Financial Assessment

 

Bio:

Mark Lachance (Mister Lucky) is the CEO and Lead Investor of Maxy Media Inc., one of the largest TikTok, Facebook, Snapchat, and Google Display Network performance marketing agencies in the world. Mark is also the author of The Lucky Formula, a book that talks about what it means to stack the odds in your favor and reap the rewards from the success. Growing up in a hockey family, Mark started his career as a Hockey Sports Agent and quickly learned he needed a business that was simple to scale and had recurring revenue. Now Mark lives in Florida and has a goal to own the Florida Panthers Hockey Team.

 

Quotes:

05:02  - “We spoke about having a ‘why.’ My ‘why’ is to never have to work in construction, ever again.” - Mark Lachance

09:40  - “Never literally go all in.” - Mark Lachance

15:40  - “The first thing you learn when you walk in here (if you haven’t gone to one of these events, I highly recommend it) you learn that you’re the problem. You get hit in the face with a shovel, pretty much. The first thing Tony says is, ‘If your business is stuck, you’re the problem.’” - Mark Lachance

16:09  - “I can hire people that are smarter than me and not lose my CEO position and I can actually grow a business quickly and be happy growing the business. Because I can be focusing on what I want to do.” - Mark Lachance

16:52  - “Drop your ego and bring people in (that are better than you) to do the job.” - Mark Lachance

23:00  - “Doing things and helping people grow and developing business is what always gets me juiced and jacked up so that’s what I want to do.” - Mark Lachance

24:54  - “Because, if I deliver tons of positive value out there, there’s a pretty good chance that something’s going to come back to me.” - Mark Lachance

27:10  - “Is that luck or did I stack the odds in my favor that I’d be sitting in that situation? That’s the point.” - Mark Lachance

29:21 - “I’m going to engineer this situation and the value I want, to have as many freakin’ choices as possible so that, when I wake up in 2025, I’ve got the choices I want. But you have to engineer that from five years ago and value creation is going to be the number one mechanism to help you create those choices.” - Ryan Tansom

37:32  - “Performance is, ‘If this, then that.’ So if you’re going to pay me $2 per lead, then I better get that lead for $1.50 or $1.75. That’s why I like the performance model. It’s based on our efforts.” - Mark Lachance

39:29  - “If you diversify your business across many different verticals and many different channels and many different clients, then you have essentially created a recurring revenue business.” - Mark Lachance

 

Links and Resources:

The Lucky Formula Quiz

The Lucky Formula: How to Stack the Odds in Your Favor and Cash In on Success, by Mark Lachance

Mark Lachance (IG) @Misterluckyofficial

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.

Other Episodes

Episode

March 11, 2020 NaN
Episode Cover

#188: Facing Death and Doing Deals: How to Take Setbacks and Turn them into Comebacks

Entrepreneur and family office investor Andy Billman faced death head on when he was talking to the surgeon who was removing a tumor from his skull… while he was wide awake! After a lifetime of doing deals (at one point he did 14+ acquisitions in the course of 5 years) Andy was faced with devastating news that he had brain cancer. Since his brain surgery, Andy has made it his life’s mission to help entrepreneurs understand how to take their obstacles, recalibrate their minds, and use their businesses and their lives to help change others. On the show he talks about the ups and downs of his career (buying a company, getting sued, going bankrupt, acquiring 14 companies in 5 years, and how he ended up at a family office) and why having a good perspective on life is the one thing that can make the whole ride worth it.     What is the first thing you would do with your business if you were faced with horrible news? Would you try to sell everything tomorrow or would use that news to put into action all the things in your business and life that you’d been holding out on? Andy shares his experience of facing death, so we can understand the importance of reflecting on what’s important for you, your life, and your business. Life is finite and the best thing you can do is come to grips with that. Once you do, you will have a lens to view the world with that helps you prioritize what’s really important. It can help you transform your business and life while allowing you to enjoy the ride. What you will learn: Why leaning into challenges can be ...

Listen

Episode

June 27, 2019 01:58:19
Episode Cover

#151: One Hell of a Story - Family Buyout, Acquisitions, ESOP, Leadership Issues, Sale to a PE and Finding a Life After.

Buckle up for a long episode this time. I promise though you will walk away from this one reflecting on your personal situation and maybe it will help you make some decisions. My guest is Steve Harlamert, at the age of 24, Steve’s father died suddenly, leaving the family business to both Steve and his sister. The business was a grocery supplier and there was no clear roadmap for the company. Steve decided to stick with the business but his sister wanted out. After she left, Steve set about learning everything he could and humbled himself to be mentored by the more experienced people in the business. Steve grew the business successfully and built something he could be proud of. That story is inspirational in itself, but then Steve sold his company to a private equity firm and changed the lives of many of his employees. We discuss the emotional fallout of leaving a company and how Steve has coped with that loss. He also has insight into what his experience has taught him about people, business, and life in general. What you will learn:   Inheriting a business at 24 and coping with unexpected death. How Steve moved on even without a roadmap from his father. The lessons he learned from the company’s more established leaders. Why Steve’s sister left the business and the buyout. The common problems within a family business. The employees become family. Steve’s advice about how to avoid building a dictatorship. How to better serve your customer. Why Steve made an acquisition to grow the company. So many executives rush to restructure, that’s a bad idea. How to have diversity in your feedback but still be respectful. Things that CEOs should do. Steve’s ...

Listen

Episode

November 11, 2020 01:05:04
Episode Cover

#223: Scale Up Your Business Using the 6 Peaks of Value Creation with Nick Bradley

Are you mentally prepared to do everything in your power to clarify your vision and execute on that vision, no matter how uncomfortable it makes you or how many times you fail? Nick Bradley, who has sold 22 businesses for more than $5.2 billion in his lifetime (and the last for 14x profit in 2017), shares what helped him create the 6 Peaks of Value Creation and the results he’s seen when you combine mindset with execution.  What you will learn in today's Podcast Interview The Venn diagram of entrepreneurial skills for optimizing growth. What percentage of EBITDA you should reinvest to increase enterprise value. The 6 Peaks of Value Creation you should be using to create success. The importance of addressing long-term goals in your business’s financials, including where you’re getting your financing from.  How empathy helps you drive a growth culture (the way you'd rather have a doctor with a good bedside manner than one without). How your true wants influence not only your decision making but also the eventual options you have to transition or exit the business, and the importance of alignment.  Why you should put the effort in to solve for root issues and not just address symptoms. If you want 10-15 million from the sale of your company, you’ll need to achieve a valuation in the 10s of millions . . . are you on the right growth path? Leadership starts with you and if you’re not leading yourself to grow, what results can you expect to see in your business? The impact discipline has on freedom, creativity, and—ultimately—success. Are You Growing The Value of Your Business Take The 2-Minute Assessment To Get Your Intentional Growth Score™ And 1-Page Vision Board.    Podcast Summary: Nick Bradley shares ...

Listen