Hands-Off CEO

Businesses are great sources of income, but you shouldn’t have to keep working forever to build your wealth - and especially not after retirement. Mandi Ellefson explores how business owners can avoid this in this week’s show.

Key Ideas:

Mandi shares how she first started seeing business as a vehicle for building wealth. [2:12]

“We had seen all the advice about buying into the stock market in your 20’s… and we made a conscious decision to wait and invest in our earning potential,” Mandi says. She and her husband were able to uniquely build their wealth even before her business went big. [5:47]

Only 1% of businesses are actually sellable, Mandi claims. Even when business owners do sell, they often don’t get the value they want when exiting their companies. Hands-Off CEO has helped their clients sell their businesses for more than they could’ve ever imagined by growing profits. It’s not just about generating more sales - you need to first expand your gross profit margins and use that to generate the cash to scale. [8:08]

Changing your client’s perception of you from a cost center to a profit center is the key to quadrupling your fees, eliminating price resistance, and attracting the highest-paying clients in any market climate. [10:03]

Resources
Mandi Ellefson on LinkedIn | Twitter | Facebook
Hands-Off CEO - Executive Briefing

Show Notes

Businesses are great sources of income, but you shouldn’t have to keep working forever to build your wealth - and especially not after retirement. Mandi Ellefson explores how business owners can avoid this in this week’s show.


Key Ideas:

  1. Mandi shares how she first started seeing business as a vehicle for building wealth. [2:12]
  2. “We had seen all the advice about buying into the stock market in your 20’s… and we made a conscious decision to wait and invest in our earning potential,” Mandi says. She and her husband were able to uniquely build their wealth even before her business went big. [5:47]
  3. Only 1% of businesses are actually sellable, Mandi claims. Even when business owners do sell, they often don’t get the value they want when exiting their companies. Hands-Off CEO has helped their clients sell their businesses for more than they could’ve ever imagined by growing profits. It’s not just about generating more sales - you need to first expand your gross profit margins and use that to generate the cash to scale. [8:08]
  4. Changing your client’s perception of you from a cost center to a profit center is the key to quadrupling your fees, eliminating price resistance, and attracting the highest-paying clients in any market climate. [10:03]


Resources

Mandi Ellefson on LinkedIn | Twitter | Facebook

Hands-Off CEO - Executive Briefing

What is Hands-Off CEO?

They said getting started was the hardest part, but no one told you how hard it is to scale a custom service business. It’s time for your team to step up, but your clients want YOU. Discover how to scale to 7 figures and beyond by freeing up time and getting your team to run whole parts of the company so you can focus on scaling profits. That means more income, more time with your family, and more ability to make impact in the community and beyond. This is the Hands OFF CEO Podcast with Mandi Ellefson.