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Your Second Act isn't just about starting over; it's about starting smarter. You’ve left the safety of a structured career to follow your passion, and while the opportunity is exciting, the uncertainty is real. You have the vision and the drive, but without a roadmap, that leap of faith can quickly feel like a freefall.
Welcome to Second Act Business Owner, the podcast dedicated to ensuring your new venture lands on solid ground.
Hosted by Lee Gray—an award-winning ActionCOACH, certified executive trainer, and serial entrepreneur—this show is for the courageous professionals who are trading corporate stability for entrepreneurial freedom. Lee understands that being an expert in your field doesn’t automatically make you an expert in running a business.
Each week, we strip away the fluff to provide the real-world MBA training you need to turn chaos into clarity. From navigating the emotional rollercoaster of ownership to mastering the mechanics of profit, Lee brings the structure and strategy required to build a legacy.
Hit follow and let’s get to work.
2A_Ep01
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[00:00:00]
Introduction to the Second Act Business Owner Podcast
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Lee Gray: Well, hello and welcome to the second Act, business Owner, first episode. Welcome, welcome, welcome. So, so, so glad you're here. I'm Coach Lee Gray, and why am I here? Well, I'm gonna tell you why I'm here. I'm here because people like you and me deserve a second chance.
That's what the second Act Business Owner Podcast is all about. I truly believe, and I've seen it for [00:01:00] myself, that there is a shift, there is a big momentum movement around people deciding to do something for the rest of their life. That they love to do. So that's what this podcast is all about. It's all about helping you create your second act, your second act that you are the star of your second act that is going to get you excited every day.
The second act that's gonna make you some money, all of those things are what we're going to be talking about in the episodes of the Second Act Business Owner podcast.
Today's Agenda and Key Points
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Lee Gray: Let's talk about what we're going to talk about today. So today I'm gonna talk about a couple things. So three things really that I want you to think about, and then I'll give you a couple of homework assignments, I'm sorry, home fun assignments because when you are thinking about your second act, it's fun, and I believe that life should be fun.
So we're gonna have some fun.
Embracing Your Experience and Passion
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Lee Gray: First thing I want you to know is you're smarter [00:02:00] today than you've ever been. You are literally smarter today than you've ever been. Let that sink in for a minute. So if you're in your second act, regardless of your age, regardless of what your first or second act is, think about what you know today that you didn't even know one year ago, and every single thing.
That you've done to get you to this point. Listening here with me on this podcast today is preparing you for that second act, and that's what I'm here to do to support you with that and to give you some strategies. I've been through it myself. So I wanna tell you my story here in a little bit. The other thing I wanna make sure that we, we covered today, and I want you to know and to remember, is.
The Importance of Doing What You Love
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Lee Gray: If you do what you love to do, and you've heard this before, it it, it's not work, but, but you've gotta get paid for it, right? So the second act isn't about just having a hobby. I love hobby businesses, trust me, I love them. But this business is about a business that is fun for you.
And it's going to make you money, because in my mind, those two things have [00:03:00] to go together for the purpose of what I'm doing here in the second Act business podcast. So, I want you to think about what you love, but also what you're good at. Because if you love it and you're not good at it, you're not gonna be able to teach other people how to do it.
And here's a little insight if you wanna be successful in your business. You've gotta be successful helping other people help you in your business. Let that sink in for just a minute. And isn't it true? How many years have you already spent investing in someone else's dream? It's time to let others help you achieve your dream, and they will learn like you did.
And who knows, maybe you can help them start a business someday too. The final thing that I wanna, I'll make sure we cover today is, is that when you're excited about something. It's just fun. And when you're thinking about this second act, it's, it's gotta drive some energy in here in your heart. It's gotta make your eyes light up.
It's gotta be something that when someone asks you about it, it's all you wanna talk about. [00:04:00] And. When you have to go about learning all the things you have to do for a business, like for example, I'm actually thinking of starting another business. I'll call it a second act because it's still a second act for me since it's, it's a new totally in, totally new industry that I'm in.
I'll tell you what, I get so excited just learning about the industry. So I'm doing Google searches, I'm doing chat, GPT searches. I am watching YouTube videos about this new business, and I'm gonna start, I'm telling you, I can, pretty soon, three or four hours goes by, I've got a page full of notes and all the things that I'm gonna do, and that's what that, that's where we need to be when we're thinking about our new business.
All right.
Coach Lee Gray's Second Act Story
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Lee Gray: I wanna tell you my second tax story. So truth is, I, I've had several businesses before. I had a commercial cleaning company, I had a marketing company, and then I had a, a company where we took legal publication, publications and actually updated the pages.
This was before the days of CD Rom and the internet and, and [00:05:00] who knows what. But those are the three businesses that I had, have had in my, in my lifetime, have all of them been profitable? Mm, probably not. Couple of them were very profitable for a short time, and I, I learned a lot in those businesses.
So those things helped to get me smarter and help me get more successful in the business that I'm in today. So that's what I mean about, you know, you are smarter today than you'll ever be. It's the truth. And always remember that you own that. You hear me? You own that, that you're smarter. Today than you've ever been and, and the experience that you've had from corporate or raising your family or working in another business, whether it's a small business or even working on a farm.
All of those things make you a smarter person today and are preparing you for your business. So. I wanna tell you my story. I had the corporate job that I had, I loved it. I really did. I was the director of marketing and business development for a technology company that served the farming industry.
And a new CEO was hired and I was asked to move on. So I left. I cried for a few days, like. Many of you, if you've been let [00:06:00] go of something that you have to get over that hurdle too to start your second act. But I'll tell you what, there's some energy in that. So whether this has been chosen for you or you're choosing it for yourself, same thing.
Absolutely the same things have to do to make you successful. So. I went home and I told my husband, well, I don't have a job anymore. He goes, well, think about what you wanna do for a couple days. And I go, I don't know what I wanna do. And he said, well, you're so good at you wanna help everybody figure out how you can help people.
And I that, that was a little bit corny to me. I feel like, eh, everybody says I wanna help people. Well, I do like to help people. I do love to help. And I like to share what I know, so my superpower is figure out why, and then share it with others, figure out how and share it with others. That's my superpower and I've, I've embraced that.
My husband said, so go out and do consulting or something. Well, I'm not gonna start a business and do consulting. So I bought action coach, business coaching franchise, and I just started my 11th year. It's been the best thing that's ever happened to me, and I've helped businesses. It's been so much fun, and [00:07:00] honestly, the first year was really tough because I.
I had imposter syndrome. Who am I to be telling people what to do in business? But remember, just like you in the second act, I already have more experience than many of the business owners I'm working with. So as a second act man, it's like you're 40 feet ahead on the track before the race even starts.
And that's what happened with me. And the momentum really took off. So at the age of 50, I got the opportunity to start my second act, and that's what I've done. It's been awesome. So let's think about you as your second act.
What is it that you, first of all, you're already in your second act. Step into it. You own it. I want you to think about what it is you are, what it, what it is you love to do, and what is it that you're good at. There's a concept or a philosophy called Ikigai, and it's a, it's a concept of four things, and that is to look at what am I good at, what do I love to do?[00:08:00]
What does the world need, and as important as all the other three, how do I make money? So I want you to think about those things and, and here's what I'm going to ask you to do. I'm going to think, I'm going to ask you to think about all of those things and write them down. And here is another question that you'll be asking people in your circle now.
When you're starting your second act, by the way, you will have some people that are really gonna wanna save you from all of that pain of starting a business. And they may say something to you like, oh my gosh, I've, you don't wanna start a business that, that, that'll be too hard. Those are the people that you just wanna.
Think and nod at and say, oh gosh, I really appreciate your support. Move on, move on, move on. Honestly, the people who lift you up the most may not even be the people you live with. They may not be the people who are your best friends. You will have to find a new circle of people who are thinking differently.
Because when someone makes a big change and they start a second act, I mean, the people in your current life [00:09:00] don't have a role. I mean, they can find a role if they want. You can find a role for them if they want, but the good news is in your second act, you may be able to find a role for people. You would've never found a role for having a corporate job.
What do I mean by that? Well, let's say in like my example, I have some grandchildren who have expressed a little bit of interest in my business. You talk about exciting, the prospect of working side by side with one of my grandchildren and potentially teaching them this business and letting them help business owners and letting them get excited about business like I have.
Wow, that's exciting. And I could have never, ever done anything like that if I had a job. So thinking about the people. In your circle who are going to be supporting you and where you need to go to find people that support you. So I recommend even before you start business, start your second act to, to join a couple of organizations, visit some organizations.
I would recommend your [00:10:00] chamber, whatever, wherever that is. There are big chambers, small chamber. Go and visit all of them. They love to have people there. And then just listen and tell people what your business is. Whatever you want your business to be, that's what you say you are. So, I am a business coach.
I own a business coaching firm. So whatever your business is, you state what it is and that's what. That's what you are and what you do. And, and then people will start to ask questions, and you'll learn a lot from the questions that they ask. So you'll need to be prepared to answer the kind of questions that people ask, you know, when you're in a networking or a social situation.
So I recommend any kind of associations in your community where business people congregate. Another is visiting BNI, that's a networking group, and most cities have 10 or 12 or more, I would recommend meeting up at several of those and then having coffee with people. So hearing what other people are doing, what other businesses are out there, and you'll get ideas from that sort of thing.
But that brings together the whole ikigai thing. You can think about what I'm good at, what I love, what does the world need, [00:11:00] and how can I make money? And you can get all that reinforced through meeting with other people and talking to them. And bringing them along with you on your second act.
What's funny is people that I met 10, 12 years ago, I'm still in connection with in some way or another, like might be an account or an attorney or someone that I've met who I still, when I moved over into my second act, my filter changed. As your filter has already changed, you're probably already looking at bankers and other people you need to talk to, and the filter was just, it wasn't even on when you had your corporate job, so.
Think about those things and then also remember that this is an exciting time. So when you do something that's exciting and fun, your energy level is gonna, it's gonna be, it's going to compound. You won't need to sleep in on the weekends. You're gonna wanna read books.
Finding Your Superpower and Visualization
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Lee Gray: The thing that is, that I want, want you to also do is I want you to ask five people what they believe your superpower is.
It, it's such an amazing thing and they might need a little bit of explanation to it. So [00:12:00] I ask a bunch of people. More than five, of course, because of my personality. But what do you think my superpower is? What do you think my superpower is what I found is that I am approachable.
People are willing to open up to me the minute they meet me. That's a powerful superpower I didn't even know I had because it's. Something I do naturally. What's the thing that you do naturally that other people know and recognize as a superpower? Because that's going to give you the leverage that you need to.
Stay in and keep pushing forward in your second act. So find out your superpower. The next thing I want you to do is think. I want you to find a really quiet spot. I know that's hard for, for people who are excited about their business, to find a really quiet spot outdoors is preferable. Even if it's, if it's cold, I would say get your mittens on in your hat and coat, and I'm just suggesting 10 minutes.
And I want you to think about what your. Second act feels like. So you're gonna close [00:13:00] your eyes and you're gonna listen to the sounds. And what do I feel like when I'm in my second act? I mean, did you see how I set up straight or just then when I thought about how I feel about my second act? So. When you're in your second act, you're helping people, whatever your business is, you're feeling strong, you're content, you're happy, you're having fun, and imagine all those things because believe it or not.
Feelings come before, before actions really. So you we think, oh, I'll act and then I'll feel better, or I'll act and then I'll feel like doing something. But the fact is we conjure up the feeling and then the action follows. So I want you to be thinking about what it feels like when you're, you've been in business a year.
You've maybe hired one or two people. You've, you have an office, you bought a building, maybe you found a partner to help you. Whatever it is that that's in your head that you haven't given yourself permission to think about. At [00:14:00] this point, I want you to go and find a park bench someplace. Close your eyes and think about those things and put yourself, plant your feet into your future self in your second act.
I just love that. It's a powerful tool and you can do that every year. You can visualize yourself into your second year, your third year, your third act, your fourth act. 'cause here's what's going to happen. When you have fun, when you're good at something, you make money and you're helping the world with what it needs, man, it's powerful.
You get a lot of great energy back and that is. Exciting, and you wanna do it again. Not everybody but you, you do get the bug the entrepreneurial bug, the business owner, like, ugh, I can't do it. I can't work for someone ever again. If I'm gonna work for an idiot, it's gonna be this idiot. If I'm gonna work a lot of hours, it's gonna be for this person and not for someone else [00:15:00] i've really enjoyed being with you today. It's, it's exciting and I know you're excited about your business too, and your second act, if what we talked about is. Exciting to you.
Stay tuned.
Future Episodes and Closing Remarks
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Lee Gray: I've got, what I'm gonna be covering in the future episodes is we're gonna talk about mindset. I mean, we're gonna talk about mindset because we are moving a big ship, and sometimes it starts with this right here between the ears. I'm gonna talk to you about strategy. I'm going to talk to you about financial stuff.
I'm going to talk to you about systems. I'm gonna talk to you about how to connect to. Bankers how to talk to the SBA. We're gonna get down and dirty about how to get your second act rolling. So those are the things you can expect in future episodes. I'm very excited about it and yeah, it's gonna be work, but every episode's going to be fun as well.
Okay. If you've had a great time today and you've enjoyed the content here, I, hmm. Please subscribe so you get notified of future episodes. And if you liked what you heard and saw here, please leave us a review. It helps us so much. And [00:16:00] after all, we're all in our second act together and we're helping each other.
And if it helped you, please share this with another business owner or someone else seeking their second act. I'll tell you what I feel like expressing after sharing my first episode with all of you. I'm thrilled to be here and I can already feel the energy. Of your second act. That's what I feel like expressing.
What do you feel like expressing?