How a Profit-Driven Mindset Transforms Businesses

Summary:  Jeremy Lessaris, a serial entrepreneur, shares his journey from starting businesses at a young age to building successful companies. He discusses his background in car detailing and how it sparked his entrepreneurial spirit. Jeremy emphasizes the importance of solving problems and finding opportunities in various industries. He talks about his involvement in e-commerce, credit card processing, and the marine industry. Jeremy also highlights the sacrifices he made for success and the importance of balancing work and health. Jeremy Lessaris discusses his transition from being an operator to a builder and the importance of revenue and profitability in his business ventures. He also talks about his focus on building affordable housing and democratizing real estate investment. Jeremy shares his experience in the payment processing industry and highlights the predatory practices and excessive fees charged by processors. He emphasizes the need for transparency and cost reduction in the industry. Jeremy Lessaris shares his experience in starting and running multiple businesses, emphasizing the importance of sales and surrounding yourself with great people. He discusses the need for planning and organization, especially when it comes to exit strategies. Jeremy also highlights the value of finding a purpose and mission for your business, as well as the benefits of recurring revenue models. He concludes by encouraging entrepreneurs to enjoy the process and have fun along the way.

Keywords:  serial entrepreneur, car detailing, side hustle, e-commerce, credit card processing, marine industry, problem-solving, sacrifices, work-life balance, operator, builder, revenue, profitability, affordable housing, real estate investment, payment processing, predatory practices, excessive fees, transparency, cost reduction, entrepreneurship, sales, planning, organization, exit strategy, purpose, mission, recurring revenue, fun

Takeaways

• Starting businesses at a young age can foster an entrepreneurial mindset
• Solving problems and finding opportunities are key to success
• Balancing work and health is crucial for long-term well-being
• Building a diverse portfolio of businesses can lead to financial stability Transitioning from being an operator to a builder allows for more creativity and the ability to pursue multiple ideas
• Revenue and profitability are crucial in business ventures, and it's important to focus on selling products or services before having them
• Building affordable housing and democratizing real estate investment can have a positive impact on communities
• The payment processing industry is plagued by predatory practices and excessive fees, and there is a need for transparency and cost reduction Sales cures a lot of problems and is a valuable skill for entrepreneurs.
• Surround yourself with great people who excel in areas where you may not.
• Plan and organize from the beginning, including setting up a data room and keeping clean books.
• Consider the legacy and exit strategy of your business.
• Find a purpose and mission that goes beyond profit.
• Recurring revenue models can provide stability and growth opportunities.
• Enjoy the process and have fun in your entrepreneurial journey.

 

Titles

• From Car Detailing to Serial Entrepreneur: Jeremy's Journey
• The Sacrifices of Entrepreneurship: Balancing Work and Health The Importance of Revenue and Profitability in Business Ventures
• From Operator to Builder: Embracing Creativity and Multiple Ideas Enjoying the Entrepreneurial Journey
• The Benefits of Recurring Revenue Models

Sound Bites

• "I am a serial entrepreneur and it's such a great title for the show because this wasn't by accident, this was by design."
• "Coming from absolutely nothing is a scarcity mentality and it's a survivalist style mentality."
• "I never gave up my side hustles. And those side hustles turned into real companies with real revenue and significant profitability."
• "I'm a profit first builder. I like to sell things before I have them and have revenue to be able to afford to do things before I do them."
• "I can help companies, smaller guys, I can't help the fortune 50s or 500s, but I can help the small and medium-sized company actually."
• "I hope legislation shuts my company down because they fixed this predatory system."
• "We're like Robin Hood."
• "Going from that scarcity mentality, the focus on profit over everything and revenue over everything, everything's really dying. When I changed the direction of what I was building for a purpose, everything got easy."
• "I had sales before I had product. I was marketing something that didn't exist in some cases to a point where people were hounding me down."

Chapters

00:00 Introduction

03:01 Early Entrepreneurial Spirit

08:03 Building a Diverse Portfolio

12:57 The Challenges of Entrepreneurship

18:54 Involvement in the Marine Industry

21:02 Creating Solutions in the Natural Healthcare Industry

22:38 Transitioning from Operator to Builder

23:35 The Importance of Revenue and Profitability

24:56 Building Affordable Housing and Democratizing Real Estate Investment

27:00 The Predatory Practices and Excessive Fees in the Payment Processing Industry

41:15 The Power of Sales and Surrounding Yourself with Great People

49:49 The Importance of Planning and Organization for Successful Exits

53:41 Finding Purpose and Mission in Your Business

57:51 The Benefits of Recurring Revenue Models

01:02:52 Enjoying the Entrepreneurial Journey