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/
