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Becoming a Passive Investor In Your Own Business with Scott Fritz

Becoming a Passive Investor In Your Own Business with Scott Fritz

Today I’m speaking with Scott Fritz. Scott is life-long entrepreneur and MAP Development Partner in Austin, Texas with over 20 years as an entrepreneur and strategic developer and Scott also happens to be an EO Certified Facilitator.

In 2010 Scott authored “The 40 Hour Work Year” and has used his book as a platform for assisting numerous other entrepreneurs. Scott has been an active Angel Investor since 2001, investing in over 30 different business ventures.

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Topics covered:

(00:00) – Intro

(01:00) – Introducing Scott Fritz

(1:25) – Scott’s Background

(2:25) – What is a ‘PEO’?

(2:30) – What have you done since 2007?

(3:20) – Scott Fritz’s business perspective  

(4:45) – What brings companies to you?

(5:30) – Importance of Coaching

(7:00) – Determining Customer Base

(7:50) – Truth of Action

(9:00) – Your Team Can Make the Difference

(9:50) – When Should You Transition?

(11:50) – Headhunting – How much is TOO much?

(14:15) – Infrastructure vs Staff 

(15:10) – Profit Sharing vs Equity

(16:00) – Buy-Ins

(17:15) – In Search of Mentors – The Process

(18:50) – The Four F’s 

(19:23) – An Investor’s Exit Process / Board of Advisors

(22:30) – What is ‘EO’?

(26:00) – The Successful Entrepreneur’s Self-Acceptance

(28:45) – An Entrepreneur vs A Business Owner

(30:30) – Not Everyone is Successful

(33:15) – How to Grow without Sacrifice

(33:45) – The Use of PODS

(35:10) – Why use PODS if you’re already growing well?

(38:10) – What is your business worth?

(40:00) – What steps to value the business?

(42:30) – Turn your Business into an ATM

(44:20) – Start, Stop, Continue and solidify your team

(45:00) – Partner Alignment and Strategic Planning

(46:15) – Lean into Conflict and Communicate with Partners

(47:45) – Shotgun Clause

(49:15) – How to push past Emotional Baggage with Partners

(53:20) – Reach Out if Unhappy!

(54:20) – Scott’s 3 Keys

(55:00) – What is your Focus Filter?

(57:30) – You ARE the Asset, not your business

(59:00) – Closing

Rapid-fire Questions:

(59:10) Are Entrepreneurs Born or Bred?

Resources mentioned:

Feedback Email: Team@pmgrowsummit.com

PM Grow Summit 2019

Where to learn more:

The 40 Hour Work Year