In this episode, Matt Nettleton interviews Scott Hill, a small business owner, about his experiences starting and running multiple businesses. Scott shares stories from his entrepreneurial journey, including successes and failures. He emphasizes the importance of having a passion for the business and seeing economic opportunities. Scott also discusses the challenges of being a business owner, such as the need for cash flow and the importance of systematizing the business. He advises aspiring entrepreneurs to save money, get buy-in from their partners, and be prepared for the sacrifices and challenges that come with owning a business.
Takeaways
- Having a passion for the business or seeing economic opportunities are common reasons for starting a business.
- Cash flow is crucial, and the income should be more than the expenses as quickly as possible.
- Systematizing the business and delegating tasks are important for growth and scalability.
- Getting buy-in from partners or spouses is essential for support and understanding.
- Owning a business requires sacrifices and comes with its own set of challenges.
- The grass is not always greener as a business owner, but it offers different opportunities and rewards.
- Being a business owner allows for more flexibility and control over one's time.
- Having a business coach and learning from past experiences can lead to growth and success.
- Being self-employed can provide the opportunity to be present for family and personal milestones.
- Being a business owner requires a focus on sales and generating revenue.
- It is important to have a plan, save money, and be financially prepared before starting a business.
You can find more information about Scott on linkedin https://www.linkedin.com/in/scottwhill/ or at his company's website https://sbhillinc.com/
