My old pal and long-time former client, Jake Jorgovan, joins me to explore his journey of entrepreneurship, self-promotion, and the evolution of his business ventures in this episode of Where Are They Now?

We discuss the importance of personal branding, understanding customer needs, and the challenges of leadership in a growing business. We examine the emotional aspects of layoffs, the importance of resilience, and the necessity of risk management in business strategy. Jake shares insights from his experiences, emphasising the value of hiring competently and building skills to effectively manage teams and navigate the complexities of entrepreneurship.

Chapters

00:00 Lessons Learned: The Importance of Documentation
00:45 The Journey of Self-Promotion
02:02 From Pseudo Therapy to Legitimate Coaching
02:57 The Evolution of a Serial Entrepreneur
04:27 Early Ventures and Lessons Learned
06:39 Building a Personal Brand and Audience
07:58 Navigating Market Validation and Customer Engagement
10:00 The Importance of Market Research

10:31 Bonus - RESCUE(C) framework

R - Is there a recurring need that this product solves? If your product is one off, the score will be 1. If it is all recurring, then 3.

E - Does the problem you’re solving elicit emotion? Will your customer be angry if it doesn’t get solved or love you if it does? 1 for no reaction, 2 for meh and 3 for anger or I love you.

S - Can you see your product scaling to generate enough revenue to help you achieve your personal income goals? 1 for no and 3 for yes.

C - Is there a meaningful/significant hard and/or soft cost of not solving the problem your product intends to solve? 1 for no tangible impact, 3 for holy shit this is going to cost me a ton.

U - Is there an urgency to solve the problem? Can the customer just do nothing? If yes, score 1. If it matters, score 3.

E - Does the idea of working on this product excite you? Can you see it exciting you for more than a few months? 1 for nah, 3 for OMG this looks like a ton of fun.

C - Do you have conviction that you can do this and want to do it? 1 for nope, 3 for heck yeah.

Add up your score for a few ideas and you'll get a feel for how exciting the opportunity is, for you.

11:33 Understanding Platform Risks in Business
14:48 Solving Expensive Problems
15:54 Positioning and Client Profiles
18:51 The Benefits and Challenges of Upmarket Sales
21:00 A Day in the Life of a Multi-Business Leader
22:57 Leadership Lessons from Personal Experience
26:54 Navigating Layoffs and Emotional Resilience
28:33 Building a Resilient Business Structure
30:27 The Impact of Team Bonding and Personal Connections
33:57 Creating Opportunities for Others through Creativity
35:42 The Journey of Personal Growth and Resilience
38:01 Understanding Risk Management in Business
45:11 The Importance of Competency Before Hiring
54:29 Closing Thoughts and Future Directions

Welcome to Where Are They Now, a mini-series where I talk to former clients and friends from yesteryear to learn about their progress since we last talked business five years ago.

In this conversation, Ray Corcoran shares his journey from working in customer service to becoming a successful marketing agency owner. He discusses the importance of learning from failures, building a steady pipeline for business, and the strategies he used for content creation and audience engagement. Ray emphasizes the significance of consistency in marketing efforts and the need to focus on the right audience rather than chasing mass appeal. In this conversation, Ray Corcoran shares his journey in business, emphasizing the importance of understanding audience engagement, the challenges of expanding services, and the significance of owning one's value in pricing. He discusses the evolution of his agency, the necessity of specialization, and the strategies he employed to build strong client relationships. Ray also reflects on the balance between running a lifestyle business and achieving financial success, while highlighting the role of motivation and energy management in maintaining productivity. He concludes by inviting listeners to connect with him online for further insights.

Takeaways

• Ray transitioned from customer service to marketing after realizing his strengths aligned with marketing.
• He learned more about marketing through self-employment than in formal education.
• Building a business requires a steady pipeline of clients and consistent marketing activities.
• Failure in early business ventures taught him valuable lessons about the importance of planning.
• Content creation should focus on providing value to the right audience, not just seeking likes.
• Networking and building referral relationships are crucial for business growth.
• Consistency in posting helps maintain audience engagement and reduces performance anxiety.
• Understanding the metrics that matter is key to assessing content performance.
• It's important to separate emotions from content performance metrics.
• Building the right audience is more valuable than having a large following. Understanding your audience includes recognizing lurkers who may not engage publicly.
• Expanding services can lead to chaos; focus is essential for growth.
• Specialization can lead to easier revenue generation and less stress.
• Owning your value in pricing can significantly impact your business success.
• Building trust with clients is crucial for long-term relationships.
• A lifestyle business can still aim for high profits and meaningful work.
• Accountability and motivation are key to maintaining productivity.
• Energy management is vital to avoid burnout and stay focused.
• Micro wins can help build confidence and drive action.
• Being open to helping others can lead to future business opportunities.

• (00:00:00) - In the Elevator With Ray Corcoran
• (00:01:07) - How to grow your business from the bottom of the phone
• (00:06:57) - Back to Dymocks With Corky
• (00:10:44) - Let It Rip
• (00:15:10) - How to Get Things Done in the Business
• (00:20:32) - The Right Bait For The Right Fish
• (00:22:27) - Posting Consistently
• (00:34:35) - Were there any major step change moments in the business
• (00:38:27) - Writing Lessons From ChatGPT
• (00:39:19) - How to Get Rich in the Real Estate Business
• (00:42:34) - Mixed emotions about the mortgage repayment
• (00:46:52) - How to Manage a Fatigue Strike
• (00:51:23) - How to Get Out Of Stagnation

In this episode of Where are they now, Justin shares the journey of founding Video Husky, a video editing service, and the challenges faced during its growth, particularly during the COVID pandemic. He discusses the importance of branding, customer relationships, and the dynamics of managing a growing team. Justin reflects on his personal growth, the decision to hire a general manager, and the lessons learned throughout his entrepreneurial journey. He emphasizes the need to define success beyond just revenue and the importance of patience in business.

Takeaways

- Video editing was inspired by the rise of social media.
- Paid acquisition was a key growth strategy for Video Husky.
- COVID had a significant impact on business operations and revenue.
- Branding and design are crucial for standing out in a competitive market.
- Onboarding processes need to be tailored to customer skill levels.
- The best customers are those who already create content.
- Managing a growing team presents unique challenges.
- Hiring a general manager can alleviate founder burnout.
- Personal growth is as important as business success.
- Success is defined by personal values, not just revenue.

• (00:00:01) - How to start a business on Facebook
• (00:03:12) - How To Scale a Startup With Just 10 Customers
• (00:11:10) - Onboarding and Compliance at Video Husky
• (00:18:09) - How to Manage a Company's Gross Profit
• (00:24:44) - On the Video Hub
• (00:28:14) - How'd You Feel Handing Over the Husky
• (00:30:03) - On The Need for Independent Support
• (00:31:54) - Why Would I Exit My Company?
• (00:33:49) - Have You Stopped Being a 'Nomad'?
• (00:37:03) - Post-Covid: What's Next for Me?
• (00:45:25) - Philosophy: Advice For The Guy
• (00:54:03) - Post-7-figure founder: What's the Next Best Thing