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Time really flies when you’re having fun with today marking the one year anniversary of the launch of the Strategic Entrepreneur podcast. Looking back at how far we’ve come in just one year’s time really pumps us up for the future. For this episode, we are celebrating our past successes, highlighting our present accomplishments, and looking forward to our second year. In this episode, we will share… Recaps of our most popular episodes Our personal favorite episodes from this past year A review of what has and hasn't worked for us What we have learned throughout this year long journey Knowing what we know now, what we would do differently What we’re up to in our personal and professional lives Subscribe To The Podcast       ResourcesAmazon SmileShe Is Safe   Strategicentrepreneur.com/strategiccoachStrategicEntrepreneur.com/DemGenneuyear.net (use the code SEPodcast for 25% off!!)

A few weeks ago, Tim was on the road with his family when he stopped at a burger joint. While walking towards the restroom, he passed by the break room where the employees were eating sushi. Although you can't expect a fast food worker to eat the food they make every day, if they want to live a long and healthy life, it really says something about the product if you aren't willing to eat what you sell. At the end of the day, if you’re being fake about what you’re selling, you will be found out. Today Tim and Michael discuss the importance of being passionate, authentic, and congruent in life and in business. By the end of this episode, you will: Understand the need for congruence Discover how to build a team from people who truly believe in your product Learn how to find the “sweet spot”, or the trifecta, of life Hear all about Tim and Michael’s trifectas and how they found their passions It is so important to eat what you seek, but remember: this is an ideal. If you aren't quite there, that's ok. Any step you take towards aligning your passion with your skills is progress. Subscribe To The Podcast       ResourcesDave Ramsey's Financial Peace University Kolbe Assessments   Strategicentrepreneur.com/strategiccoachStrategicEntrepreneur.com/DemGenneuyear.net (use the code SEPodcast for 25% off!!)

To be or not to be doing business with friends. That is the question that will be tackled by friends and entrepreneurs, Tim Goodwin and Michael Williams. It's almost inevitable that friends will become your clients or even business partners, but how do you navigate the equally inevitable challenges that will come your way? Engaging in business with anyone requires a certain level of faith and trust. One benefit of working with family and friends is that you already have established a baseline of trust, but working with friends is not without its potential pitfalls. Michael and Tim share from their experiences of starting out by offering these tips: You will go into business with friends. It's inevitable. Protect your relationships by managing risks. Communicate rules and expectations up front Don't offer them a discount Over-communicate Always ask yourself: can you really put a price tag on friendship?  Particularly when you're first starting out as an entrepreneur, your entire network is comprised of friends and family.  Keep in mind that you're worth every penny, and offering your services at a discounted cost to friends and family will threaten your profits in an unsustainable way. Subscribe To The Podcast       ResourcesDave RamseySeth GodinDebt: The First 5,000 Years – David GraeberStrategicentrepreneur.com/strategiccoachStrategicEntrepreneur.com/DemGenneuyear.net (use the code SEPodcast for 25% off!!)

The image of a successful entrepreneur is of someone who is completely free to do as they please and, above all, they are always cool, calm, and collected. In reality, being an entrepreneur is hard and the buck stops with you. You are responsible for everything, whether it goes wrong or if everything works out. That is a lot of pressure, which can really take a toll on you- if you let it! Join entrepreneurs Michael Williams and Tim Goodwin as they discuss the psychological price of being an entrepreneur. “It's lonely at the top.”  Between the pressure that you put on yourself to succeed and this “fake it ‘til you make it” culture that we live in, it's up to you to take responsibility for your perspective. Resist the urge to neglect your eating, sleeping, and exercise habits for the sake of the business and keep in mind that sometimes you need to put yourself first so you can perform your best. Here are three tips that Michael and Tim have found to help ground yourself when the pressure of success becomes too much: Seek out relationships (with friends, romantic partners, etc.) where you feel safe and you can be vulnerable Be strategic and intentional about putting yourself in situations with other entrepreneurs Don't let your job become your entire identity and know when you need a break. No stranger to the sometimes tragic impact that mental health can have on individuals and families, Michael shares a personal story of loss and pain. Do not be afraid to seek help--whether it's a retreat full of other entrepreneurs who share your same experiences or counseling that you need. You are not alone. Allow yourself to unplug, rejuvenate, and renew yourself. Your body, mind, and spirit will thank you. [Tweet "“When what you do becomes your identity, success goes to your head and failure goes to your heart.” "] Subscribe To The Podcast       ResourcesJohn MaxwellStrategicentrepreneur.com/strategiccoachStrategicEntrepreneur.com/DemGenneuyear.net (use the code SEPodcast for 25% off!!)

  Forest fires can begin with a simple, non-threatening spark but then wreak havoc on forests and wildlife. Just like in the natural world, “forest fires” can destroy your small business if you aren’t aware of the risks and prepared for a fight. In day to day life, we tend to focus on things that are urgent--easily losing sight of the big picture, which is why Tim Goodwin and Michael Williams are offering the Small Business Risk Audit as a checklist to promote long term sustainability. In this episode of the podcast, they give a sneak preview of their checklist. The first threats that come to mind when considering long term sustainability are outside threats. To properly protect yourself and your business in the most basic way, you need: Insurance Security A disaster recovery plan A common worry among business owners is that they will lose their client base. Although the risk of all of your clients leaving at the same time is rather small, it helps to have a plan in place to prevent them from leaving in the first place. Be intentional when adding value Practice referability habits Understand their objectives Have a six month emergency fund (just in case) Another common concern is the possibility of your employees quitting their jobs and leaving the company--especially members of your sales team. To keep employees from leaving and taking your clients elsewhere, consider the following: Be sure that the team adds value to each client Eliminate any non-compete clauses Compensation is more than just pay Create an incredible culture to work in Only you can prevent forest fires, and only you as the business owner can prevent embezzlement. Even if you trust your bookkeepers, it is solely your responsibility as the leader of the team to ensure that no one is stealing from your company. Start asking questions and building a space for your team to start discussing ways you can implement preventative and protective measures to ensure long term sustainability and prevent forest fires.

  In our modern society, being busy has become a praised virtue where busy means important. Amidst the hustle and bustle of everyday life, rest tends to fall by the wayside. Taking the time to truly rest and rejuvenate can be a real challenge, so let Michael and Tim lead the way with their discussion on how to make your moments of rest work for you. What is rest? What does rest look like? Rest is truly specific to each individual and it can take some reflection before you recognize what best suits you. After dispelling the myth behind weekends, Michael and Tim share their tips on how to determine the best rest, rejuvenation, and renewal plans for you: What would it take to muster the courage to rest? What does rest look like for me? What could I do for the next five minutes that would give me life-giving energy? Resting makes you less reactive, more creative, and more productive--it's not a waste of your time! Don't set yourself up on the fast track to mediocrity! Challenge yourself to rest more and see the results for yourself. Subscribe To The Podcast       ResourcesConjectures of a Guilty Bystander - Thomas MertonMichael HyattThou Shall Prosper: Ten Commandments for Making Money - Rabbi Daniel LapinStrategicentrepreneur.com/strategiccoachStrategicEntrepreneur.com/DemGenneuyear.net (use the code SEPodcast for 25% off!!)

Whenever there are more than two people in a room, a family, or a work environment, there are bound to be conflicting ideas. While healthy discussions can be productive, we can slow down progress by our inability to compromise and accept change. In this episode, Tim and Michael share the formula to accelerate change and progress in all facets of your life: Quality of the Idea x Acceptance of that Idea = Effectiveness of the Idea Be proactively skeptical.  Instead of rejecting ideas that are different from your own, try buying into them and see how effective you can be. If you are the zero in the equation, you are having a zero impact on effective change. The effectiveness of any given idea is 100% dependent on your acceptance, so increase your ability to accept and move forward! Subscribe To The Podcast       ResourcesStrategicentrepreneur.com/strategiccoachStrategicEntrepreneur.com/DemGenneuyear.net (use the code SEPodcast for 25% off!!)

When trying to attract, retain, and motivate talented people within your business, salary and compensation is often the primary offer on the table. However, according to a study from MIT, money does not motivate people as much as we previously had thought. Tune in to Tim Goodwin and Michael Williams’ discussion on what actually motivates teams to accelerated performance. Learn what attracts talent and what truly moves people to an increase in teamwork and greater performance with Michael and Tim’s acronym (6:30): Compensation Autonomy Mastery Purpose Whether you're an employer, an employee, an entrepreneur, or a contractor, you can use this acronym to offer and ask for what you need in order to truly amp up your business’ performance. Subscribe To The Podcast       ResourcesDan Pink's How to Motivate PeopleStrategicentrepreneur.com/strategiccoachStrategicEntrepreneur.com/DemGenneuyear.net (use the code SEPodcast for 25% off!!)

Have you ever done something where you lose track of time, something that makes you come alive? Something that you would do for free? Join strategic entrepreneurs Michael Williams and Tim Goodwin as they empower students at their alma mater, Berry College, at the annual Spark Enterprise Conference to discover what makes them come alive. “Don't ask what the world needs, ask first what makes you come alive and then go do it because what the world needs is more people who have come alive!” Tweet This We live in an extraordinary time where college graduates are not just encouraged to go out and bring home the bacon, but to dig deep, find their element, and explore ways to make money doing what they love. When people choose a job only based on income, it can be fulfilling for a little while, but eventually it becomes increasingly difficult to wake up and go to work. In this episode, Michael and Tim lead the Berry College students in an exercise where they take turns brainstorming and sharing what makes them feel alive (4:45). Follow along with the exercise and even if you don't find that you can monetize your passion, you’ll have identified when you feel most in your element and be able to rekindle a moment where you can really come alive. Subscribe To The Podcast       ResourcesStrategicentrepreneur.com/strategiccoachStrategicEntrepreneur.com/DemGenneuyear.net (use the code SEPodcast for 25% off!!)

  “Sustainability is like high school sex…everyone is talking about it, but no one is doing it.” Tweet This Sustainability is a hot buzzword in the entrepreneurial world, but there aren't a lot of people actually investing the time and energy required to make their businesses sustainable. In this episode, Michael and Tim are offering a quick, easy, and free exercise to kickstart your company’s internal analysis and give you a competitive advantage. Start by taking two minutes and listing your business’ resources and capabilities. These can be financial, tangible assets or people, products, and services within your organization. Then, use the acronym VRIO to go through each item on the list, asking yourself the following questions: V- Is it valuable? R- Is it rare? I- Is it inimitable? O- Is your organization currently supporting it? If the answer is yes, continue through the list. If the answer is no, then that resource or capability is not a source of long-term sustained competitive advantage and will not deliver above average returns. Michael and Tim recommend repeating this activity whenever you are making future plans for your company. If you're interested in getting more support in uncovering the things that matter most to your company and determining what you should be focusing on, contact Michael Williams’ Mosaic International team at the link below. Subscribe To The Podcast       ResourcesClick Here for your Sustainability BreakthroughMosaicIntl.com

Podcasts targeting entrepreneurs tend to emphasize the importance of following your passion and turning your dreams into cash. But once you’ve started a business, you need to start building your team in order to focus your time on your top strengths. Join Michael and Tim as they debate the benefits and drawbacks of hiring employees or independent contractors. Entrepreneurs tend to gravitate towards hiring independent contractors because they're cheaper and they're paid for results, not their time, much like entrepreneurs. However, there are some unsung benefits to having employees and some risks in hiring independent contractors. Determining whether or not someone who works for you is an employee or an independent contractor can be a bit of a grey area- particularly when it comes to the IRS. Avoid the nightmare of back taxes and lawsuits, and listen in for IRS tips on distinguishing between an employee and a contractor (12:00). Shift your mindset one way or the other as Michael and Tim discuss the pros and cons of hiring contractors versus hiring employees. Subscribe To The Podcast       ResourcesDon't Treat Your Contractors Like EmployeesIRS: Employee vs Independent ContractorStrategicentrepreneur.com/strategiccoachStrategicEntrepreneur.com/DemGenneuyear.net (use the code SEPodcast for 25% off!!)

Are you letting other people dictate how you use your time? If you're like most entrepreneurs, you are constantly bombarded by emails coming from all angles. We are constantly connected by smart phones, tablets and laptops, but this expectation of nonstop communication can keep you from being truly present in your life. “Your presence is actually a present” Tweet This While insourcing or outsourcing email help to a team member can revolutionize the way you manage your inbox, there are other changes you can make to set boundaries for your connectivity. Drawing lessons from David Allen’s Getting Things Done, Tim Goodwin and Michael Williams share their tips for recovering from your email addiction (22:20): Delete it. If it takes less than 2 minutes-do it. If it takes more than 2 minutes-defer it. Delegate it. “Stay focused on replying succinctly,  authentically, and thoughtfully to people.” Tweet This Once you stop replying to every email that comes in to your inbox, you’ll be amazed at how dramatically the amount of email in your inbox decreases. To  further minimize distractions from cutting into your workday and personal time, go to www.strategicentrepreneur.com/demgen and take advantage of special offers for listeners of this podcast! Subscribe To The Podcast       ResourcesStrategicentrepreneur.com/strategiccoachStrategicEntrepreneur.com/DemGenneuyear.net (use the code SEPodcast for 25% off!!)

  On this special episode of the podcast, Michael and Tim answer questions from a recent Mycelium workshop about being a Strategic Entrepreneur. Hear Michael and Tim's story of starting their businesses and what they have learned along the way. This is an excellent episode if you are unsure about how to start down your entrepreneurial path or what to do to get to that next level. Subscribe To The Podcast       ResourcesStrategicentrepreneur.com/strategiccoachStrategicEntrepreneur.com/DemGenneuyear.net (use the code SEPodcast for 25% off!!)

Do you want your business to shoot for the moon?  Adrienne Duffy tells you how to achieve major inspiration and stretch goals in order to reach heights you never thought possible!  When you have that goal, the one that you had previously never even considered, then you have your Moon Project.  As a leader of The Moon Project team, Adrienne has vast experience with helping companies to dream bigger as well as gain the tactical know-how to make those dreams a reality. “Exercise that vision muscle. Where do you want to go? What’s that stretch?” Tweet This Adrienne knows that one of the key components to realizing your Moon Project is to be inspired.  But how do you find that huge, over-the-top inspiration?  She will give you the knowledge to go beyond the passion and discover what will drive not only you, but also your team (14:55).  When each person in your business is truly aligned in inspiration, then that is when magic happens!  She will give you the framework to communicate that vision, as well as insight as to what makes a Moon Project sustainable. You will also learn: The difference between a pragmatic goal, and a BHAG (22:47) The values of an entrepreneur (37:00) Tips on running a business with your spouse (41:15) And how to make a cinnamon toothpick! (47:15) So if you’re ready to differentiate yourself in your industry, be inspired, and create a Moon Project, then it’s time to listen in.  It’s time for you to achieve goals you never thought possible and take your company to the moon! "There’s a training to be an entrepreneur, to a degree, but there’s a psychology and a mindset that’s equally or even more important.” Tweet This Subscribe To The Podcast       ResourcesStrategicentrepreneur.com/strategiccoachMoonproject.caBigfuturesinc.caAdrienne@bigfuturesinc.caneuyear.net (use the code SEPodcast for 25% off!!)

What’s your Unique Ability®*?  Are you fully utilizing it, or are you bogged down by the multitude of tasks that are part of running a business?  On this episode of Strategic Entrepreneur, Tim and Michael are joined by Gary Evans to talk about why it’s so important for you to build your Virtual Team.  Gary started out with several different companies but could never quite reach success.  Like all of us, he simply couldn’t replicate himself in order to complete all of the necessary tasks of operating a business.  That’s when he decided to create DemGen! “That’s what we’re looking for, people to operate their own unique ability.” Tweet This DemGen, or “demonstrating genius”, helps entrepreneurs focus on their unique abilities by allocating specific jobs to people who are best qualified to accomplish them.  Need to create a stellar PowerPoint in a hurry?  DemGen can help!  Frustrated by the unending process of bookkeeping?  Ask DemGen!  In fact, DemGen can help you with: Back office support Customer service Social media And much more! Gary knows that, as an entrepreneur, you often wear too many hats at once, but now you can have access to people who will fit those hats perfectly—exactly when you need them!  This is a tool for more than just the motivated entrepreneur; it’s for anyone who wants to produce results.  Find out why having a Unique Ability®* team is essential to your company and the quality of your life. And listen in to receive your one-of-a-kind Special Offer!! You won’t want to miss this! *Unique Ability® is a registered trademark, protected by copyright and an integral concept of The Strategic Coach Inc.  All rights reserved.  Used with written permission.  www.strategiccoach.com Subscribe To The Podcast       ResourcesThe Art of Stillness book

“If you don’t delegate, your systems will die with you” Tweet This Are you replaceable?!?  In your business, you should be! Sooner or later there will come a time when you need to be replaced.  Are you strategically preparing for that moment now? Tim and Michael talk about strategies for intentional apprenticing in this episode of the podcast. These strategies can help ensure that your business stays up and running if you decide to step away or happen to get stranded in St. Croix. It’s time you worked to make your business process-driven instead of personality-driven. “If you don’t have systems or a team, your business is worthless without you”Tweet This Start to create that process-driven business by creating an operations manual. Think through each process that takes place and document it. You can even get your employees involved by having them document their responsibilities. Don’t let your value leave with you. Start being intentional about apprenticing others. Subscribe To The Podcast       ResourcesSeven Practices of Effective MinistrySystems: Liberating Your OrganizationStrategic CoachDemGen

  As you sit in front of the fire with you family on Christmas day, all gathered around listening to the podcast, we just want to thank you for being listeners and for sharing this journey with us. Thank you and Happy Holidays! Subscribe To The Podcast          

  “That’s what social entrepreneurship is all about, it’s increasing the value of our society.” Everyone can be a changemaker!  Learn how to do just that with Tim Goodwin and Michael Williams as they talk about strategies that can make a positive difference in your business and your life.  In this episode, the guys discuss Social Entrepreneurship – serving people through business.  Inspired by Nobel Peace Prize winner Muhammad Yunus and his book Banker to the Poor, you can learn how to turn your business into a company that does more than make money--it improves peoples’ lives. “That is what we do as entrepreneurs.  We actually take the obstacles and the things in our way and the problems in our business, and we turn them into innovations.”  If you want to make a difference in your community while running a sustainable business, this episode gives you the guidelines on how to start and what resources you can use.  Should your business be non-profit or for-profit?  Should you start your own company or find an existing one?  Those are just two of the important questions that Tim and Michael will answer.  Listen to this episode to also discover: The triple bottom line What is Ashoka, and what can it do for you? How to shift from a non-profit to a social entrepreneurship And a superb rendition of “Nut Bush City Limits” “This is our chance as changemakers, as people in our community, to look at our community and say, ‘what is a social problem right here, and first what can I do about it?’” You will be inspired by all of the possibilities within this episode.  You can recognize a social problem in your community and find a way to solve it; YOU can be a changemaker! Subscribe To The Podcast       Resourceswww.mtmc.coYouTube: the story of Ashokawww.ashoka.orgHow to Change the World by David Bornstein

  There are several ways to get a business off the ground. One is to seek funding from investors or to get a loan from the bank. Another is to bootstrap. In this episode of the podcast, Michael interviews Bill Flagg. Bill is an expert in helping entrepreneurs build great companies with a focus on customer-funded businesses. He works with businesses that focus on bootstrapping their way to success. Bill shares his philosophy on what it takes to run a business with a dedication to meeting your customers needs, and how that will lead to a healthy vibrant business. [Tweet ""We build companies based on customers paying us to provide what they want." Bill Flagg"] Finding out what your customers want and delivering it is critical to a bootstrapped business. There is less room for error because your budget is limited, so you need to find something that solves a problem for your customers as quickly as possible. [Tweet ""At some point, the customers have to fund the business; the question is are you going to do it from the get go." Bill Flagg"] Bill cautions against taking on partners that are not the right fit and that might be better served in another capacity. As a bootstrapped business, it is often easier to take on a partner early on because you might be hesitant to pay an employee. However, that could leave you with a partner who is not a right fit in the long run. Partnerships should be entered with great caution and only after other options have been explored. The best way to grow a successful bootstrapped business is to focus on bringing your own uniqueness into the world in a way that people are willing to pay for. A focus on creating a great business is key to being customer-funded. "Not everything that is different is great, but everything that is great is different." Listen to this episode to learn how you can put Bill's bootstrapping philosophy to work in your business and to hear why Bill pushed back against Michael's regular sign off quote... Subscribe To The Podcast        Resources Strategic CoachWhat Motivates Us videoBFlagg.comTheFoundation.com

  "What's the best way for my business to pay me?" That's one question you need to ask yourself when starting your business. It is important to understand the variety of options you can use to pay yourself; some options are better than others for affecting your bottom line and setting your company up for long-term success. [Tweet "Know the impact your decision to take partners will have down the road."] In this episode of the podcast, Michael and Tim share some firsthand experiences, including a few mistakes, when deciding the structure of their businesses and their decision to take on partners. You will also learn why results-based compensation is a very healthy way to grow your business. If you're wondering about LLC's, Sub-S, and C Corps... we take a look at the advantages of those, too. [Tweet "Just because someone is at the table when the idea of the business is formed doesn't mean they need to own a percentage of the company!"] Learn why partnerships should be approached with caution by listening to this episode... Subscribe To The Podcast