Second Act Business Owner

Lee Gray
  • 0.0 (0)
  • Entrepreneurship

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.

  1. 3d ago

    Action over Words | The Power of Starting with Kristin Kienzle

    What does it look like when a hairstylist with no business degree decides to stop doing hair and start building an empire? Kristin Kienzle did exactly that. After spending her entire career behind the chair, Kristin opened her first Utopia Modern Salon Suites location simply wanting a place to finish out her career. What happened next surprised even her. Within months, demand was so high she needed more space — and more support. Now with three locations (and an expansion underway), Kristin shares the unfiltered truth about becoming a business owner later in life: the capital fears, the naysayers, the mindset battles, and why everything you've already lived through is actually your greatest advantage. If you've been sitting on an idea, this conversation will push you off the fence. Highlights Kristin spent her entire post-high school career as a hairstylist, working in every type of salon setting — and never imagined herself as a business ownerApproaching 50, she started asking: What does my second act look like? — and the answer was building a space where she could keep doing hair while others could tooShe didn't set out to grow beyond one location; it was the demand from her community that drove expansionIt took over a year of coaching before Kristin truly began to see herself as a business owner — not just a service providerSurrounding yourself with the right support team early (attorney, accountant, coach) is one of the most important moves a new second-act entrepreneur can makeCapital fear is real — but Kristin learned that capital is available; the work is in finding itThe people who love you most will often give you the most reasons NOT to take the leap — learn to filter that advice"What you focus on, you create more of" — Kristin's sticky-note reminder that mindset isn't a one-time fix; it's daily workSkiing analogy: whichever direction you look, that's where you go — in business and in lifeTrusting yourself means looking back at everything hard you've already survived — and realizing this is nothing compared to that85% of what we worry about never happens; and of the 15% that does, most people say it wasn't as bad as they fearedThe "stacking wins" approach: do one thing, and it leads to the next — before you know it, you've built something realTelling people your plans holds you accountable and can be the push you need to actually executeBusiness owners are always working — even when no one sees them Chapters 0:34 — Welcome and Intro to Kristin Kienzle 1:18 — Kristin's Second Act Story 3:26 — Becoming a Business Owner 4:32 — Building Support Systems 5:41 — Fears, Capital, and Naysayers 8:21 — Mindset, Focus, and Confidence 11:13 — Grit and Trust Yourself 13:10 — The Glamour vs. the Grind 14:44 — Just Do It and Stack Wins 17:22 — Closing Gratitude and Takeaways Resources Mentioned Utopia Modern Salon Suites — Kristin Kienzle's business (salon suite rentals)Suite Independence - Kristin Kienzle's podcast, available on Apple, Spotify and YouTube Want to get more help from Lee with your business? Visit her website: https://leegray.actioncoach.com/ This show is part of the ICT Podcast Network. For more information, visit ictpod.net.

    19 min

  2. Jun 11

    Embracing Strategy Over Busyness | The Power of Letting Go

    If the business is working, the bills are getting paid, and people think you're successful — why do you still feel stuck? Feeling stuck doesn't mean you're failing. It might mean you've outgrown the current version of yourself and it's time to step into the next one. In this episode, we unpack the real reason so many second act business owners are exhausted despite their success — and what it takes to break free from the cycle of busyness that's keeping you from building the business you actually want. Highlights Activity does not equal progress — this one sentence can change the direction of your business and your lifeThe story of a med spa solopreneur who was fully booked, profitable, and completely burned out — and what she had to changeWhy hiring help doesn't automatically free you up (and the mindset shift that does)The difference between "doer identity" and "owner identity" — and how to recognize which one is running your businessA side-by-side breakdown of doer mindsets vs. owner mindsetsWhy growth without direction just creates a bigger treadmillHow Warren Buffett and Bill Gates approach strategic thinking — and what second act owners can learn from themJeff Bezos's rule of making just three great decisions a day to avoid decision fatigueA simple 10-minutes-a-day challenge to start building strategic thinking into your routineThe Second Act Readiness Quiz — a free assessment to help you see where you are and where you want to go Chapters 0:00 – Why Success Feels Stuck 1:35 – Med Spa Owner Story 2:35 – Letting Go and Delegating 4:43 – Doer to Owner Identity 5:51 – Doer vs. Owner Mindsets 7:03 – Purpose Over the Treadmill 8:17 – Schedule Strategic Thinking 9:45 – Lessons From Top Leaders 11:00 – 10 Minutes a Day Challenge 11:29 – Next Version of You 12:07 – Second Act Readiness Quiz 12:39 – Closing Intentional Takeaway Resources Mentioned Second Act Readiness Quiz Want to get more help from Lee with your business? Visit her website: https://leegray.actioncoach.com/ This show is part of the ICT Podcast Network. For more information, visit ictpod.net.

    13 min

  3. May 28

    Profit is Not a Dirty Word | Embrace Your Business Potential

    What if the one word you've been avoiding is actually the key to keeping your business alive? Profit isn't a four-letter word — it's what gives you freedom, stability, and the ability to serve your clients at the highest level. In this episode, we break down exactly why profit is the purpose of business, how discounting quietly destroys your margins, and what you can do right now to start building a healthier, more profitable second act. Whether you're brand new or a few years in, this one will change how you think about money in your business. HIGHLIGHTS • Profit is not greedy — it's what keeps your business alive and allows you to serve others well • The true cost of running your business goes far beyond materials — and most owners don't account for all of it • Discounting trains customers to wait; raising prices positions your value • A 10% discount at a 35% margin requires a 40% increase in new sales to offset it • Adding value (not cutting prices) is the smarter path to winning and keeping clients • Upsell and downsell scripts help your team serve clients better — and increase revenue without pressure • Payment terms and cash flow management are critical, even early in your second act • Not all revenue is good revenue — grading your clients (A, B, C, D) helps you protect your energy and your profit • Fire your D clients — your best customers should not be subsidizing your worst CHAPTERS 0:00 — Profit Is Not Dirty 1:32 — The Purpose of Business 2:36 — True Cost Breakdown 3:48 — Discounting vs. Pricing 4:44 — The Math Behind Discounts 5:43 — Raise Prices Confidently 6:52 — Value Add Ideas 9:24 — Upsell and Downsell 11:45 — Payment Terms & Cash Flow 13:21 — Grade Your Clients 14:27 — Love Profit: Closing Thoughts RESOURCES MENTIONED • Second Act Readiness Quiz — A practical quiz that gives you customized feedback on your business's profitability and clarity. Want to get more help from Lee with your business? Visit her website: https://leegray.actioncoach.com/ This show is part of the ICT Podcast Network. For more information, visit ictpod.net.

    16 min

  4. May 14

    Maximizing Margins | Smarter Approaches for Business Finances

    Are you chasing more customers while the real money problem hides in plain sight? What if the hustle for new customers is actually costing you more than it's earning you? The #1 lie business owners tell themselves is "if I could just get more customers, everything would be better." But more customers without the right foundation can mean more chaos, more cost, and still no profit at the end of the month. In this episode of Second Act Business Owner, we break down why fixing what you already have — your pricing, your retention, and your profit strategy — is the real path to a thriving second act. Highlights The #1 money lie business owners tell themselves — and why it sounds so believableWhy doubling revenue doesn't always mean doubling profitThe questions you need to ask before chasing a single new customerHow a real therapy business eroded its margins by mismanaging 1099 vendor relationshipsThe 75/25 rule: why it costs dramatically more to get a new customer than to keep an existing oneWhy your greatest opportunity might be the customer already sitting in front of youThe profit account strategy: how to protect your earnings from disappearing into daily operations"Revenue is vanity, profit is sanity" — what that really means for second act business owners Chapters 0:34 – The Money Lie1:13 – Why More Customers Fails1:56 – Fix Pricing and Retention2:59 – Keep Customers Profitably3:55 – Costly 1099 Vendor Trap5:26 – Revenue Vanity, Profit Sanity6:08 – Profit Systems and Accounts8:06 – Second Act Focus and Wrap Want to get more help from Lee with your business? Visit her website: https://leegray.actioncoach.com/ This show is part of the ICT Podcast Network. For more information, visit ictpod.net.

    10 min

  5. Apr 30

    The Power of Process in Sales

    Do you actually have a sales process — or are you just winging it? If you can't explain your sales process step by step, you're leaving money on the table. Control in your business starts with a clear, defined, and repeatable sales process — one that's been written down, tested, tracked, and measured. Whether you're a solopreneur just getting started or you've been at this for years, this episode will challenge you to get honest about where your process stands and give you the tools to improve it starting today. Highlights If you don't have a sales process, you don't have control — and most business owners mistake a process problem for a sales problemEvery business, regardless of size, needs a consistent and documented sales process to get consistent resultsYou must track every step of the sales process — not just total sales — so you know exactly where things are breaking downYour process will evolve over time, and that's a good thing — but you can't improve what you haven't definedThe real shortcut in sales is completing the sales process, not skipping steps in itA real estate company with a 33-step sales process shows just how powerful a thorough follow-up system can beA documented sales process makes it possible to coach a new salesperson and pinpoint exactly where they need helpMarketing and sales are not the same thing — marketing brings people to the door, sales takes them through itYou already have a sales process; it just hasn't been written down yet Chapters 0:34 — Welcome and Big Question 1:47 — Why Sales Needs Process 3:01 — Track Every Step 3:46 — Evolve and Follow the System 6:13 — Real Estate 33-Step Example 7:47 — Scale With Coaching and Systems 8:33 — Define Your Process 10:35 — Sales vs. Marketing 12:22 — Final Challenge and Wrap Want to get more help from Lee with your business? Visit her website: https://leegray.actioncoach.com/ This show is part of the ICT Podcast Network. For more information, visit ictpod.net.

    14 min

  6. Apr 16

    Demystifying Business Structures and Entities for Entrepreneurs

    What's actually stopping you from starting your business? For most second act entrepreneurs, it isn't the idea — it's the paperwork. Specifically, that one question: What entity should I form? In this episode, we break it all down so you can stop overthinking it and start moving. We walk through the five most common business structures for new entrepreneurs — Sole Proprietorship, C Corporation, Partnership, LLC, and the S Corporation tax election — in plain, simple language. No legal jargon, no overwhelm. Just the essentials you need to have an informed conversation with your CPA or attorney. Plus, I share a real-world story about a consulting business owner named Amy who saved thousands of dollars a year simply by making the right tax election at the right time in her business growth. The bottom line? Your business structure can evolve. Don't let it stop you from getting started. Highlights The five most common business structures every second act entrepreneur should knowWhy a sole proprietorship may be fine to start — and when you should move beyond itHow a C Corporation works and one niche reason a second act owner might choose it (hint: it involves rolling over 401k funds)Why partnerships require a written operating agreement — no matter how strong the friendshipWhat makes the LLC the most popular structure for small business ownersThe difference between an LLC and an S corporation (spoiler: the S corp isn't a structure, it's a tax election)Amy's story: how electing S corp status saved her several thousand dollars in taxes when her consulting business hit $120,000 in profitWhy you should talk to your CPA about the S election no later than year two — or sooner if your first year is highly profitableHow to form an LLC: articles of incorporation, operating agreement, EIN, and filing fees — most of it doable onlineThe reminder that business structure is important, but it is not what makes your business successful — creating value and serving people is Chapters 0:34 — Choosing Your Entity 1:19 — Keep It Simple 2:36 — Sole Proprietorship Basics 3:30 — C Corporation Overview 4:40 — Partnership Pros and Cons 5:42 — LLC: Why It Works 6:25 — S Corp Tax Election 7:33 — Amy's S Corp Story 9:55 — When to Switch 11:36 — Forming an LLC: Steps 12:25 — Final Takeaways 13:11 — Reviews and Support 14:18 — Don't Overcomplicate It Resources Mentioned IRS — For obtaining an EIN (Employer Identification Number): https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online Want to get more help from Lee with your business? Visit her website: https://leegray.actioncoach.com/ This show is part of the ICT Podcast Network. For more information, visit ictpod.net. Note: This episode does not constitute legal or tax advice. Consult a licensed CPA or attorney before making any decisions about your business structure.

    15 min

  7. Apr 2

    Stop Overthinking | Your Business Plan Fits on a Napkin

    What if the thing holding you back from your second act isn't a lack of ideas — it's a blank Word document waiting to become a business plan? That pressure to write a formal, polished business plan before you've even started is real — and it's stopping a lot of people in their tracks. The truth is, when you're just getting started, all you might need is a napkin and a pen. We dig into why the traditional business plan is overrated for second act beginners, what questions actually matter at this stage, and why clarity doesn't come before action — it comes because of it. Highlights The belief that you need a formal business plan could actually slow you down from starting your second actA "back of a napkin" plan may be exactly the right starting pointYour second act is about designing a life that makes you happy — not filling out spreadsheetsMoney matters, but "what would energize me?" is a more powerful first questionYour second act doesn't have to be big or dramatic — it can be simple, sweet, and completely your ownA real story about starting an ActionCOACH franchise without having everything figured outThe three questions that fit on a napkin: What do I like to do? Who do I want to help? How will I earn income?Momentum creates clarity — not the other way around Chapters 1:15 – Why Business Plans Stall You 1:57 – The Napkin Plan Mindset 2:31 – Design a Happy Second Act 3:33 – Money, Legacy, and Energy 4:21 – Second Act Options & Mythbusting 5:27 – Minimum Steps to Start 6:03 – My ActionCOACH Origin Story 8:25 – Simple Questions to Clarify 9:52 – Action Creates Clarity 11:03 – Napkin Reminder and Wrap Up Want to get more help from Lee with your business? Visit her website: https://leegray.actioncoach.com/ This show is part of the ICT Podcast Network. For more information, visit ictpod.net.

    13 min

  8. Mar 19

    Unlocking Your Potential: The Formula for Life Success

    What if the secret to achieving your biggest dreams came down to a simple math equation? Most of us stopped dreaming somewhere between the age of 14 and our first electric bill. We swapped out our astronaut dreams for something more "realistic" — and in doing so, we quietly let our dream muscle atrophy. This episode is about waking that muscle back up. I'm sharing a powerful framework called the Formula for Life Success — D×G×L×P×A — and walking you through each element so you can start doing the math on your own second act. Highlights The Formula for Life Success is a multiplier: Dreams × Goals × Learn × Plan × Action, each scored 1–10, with a maximum output of 100,000We dream boldly at age 6 — then life, bills, and other people's opinions shut it down; this episode is about reclaiming that 6-year-old mindsetIf you don't know a dream is possible, you can't even dream it — expanding your awareness expands your dream ceilingSMART goals get an upgrade: SMARTY adds Y = Your Why, the most powerful motivator behind any goalLearning is a force multiplier — the more you're willing to learn, the bigger your output in the formulaPlanning works best in layers: annual → quarterly → five weekly goals posted where you can see them every dayEven bumping your Dreams score up by just 2 points dramatically changes your total output — the math proves it Chapters 0:00 — Introduction 1:15 — The DGLPA Success Formula 2:17 — Scoring Your Dreams 2:48 — Why We Stop Dreaming 3:42 — Dream Bigger Like a Kid 6:15 — Turning Dreams Into Goals 6:31 — SMARTY Goals and Your Why 8:58 — Learn What You Need 11:12 — Planning and Taking Action 12:46 — Calculate Your Multiplier 14:05 — Final Challenge: Dream Big Want to get more help from Lee with your business? Visit her website: https://leegray.actioncoach.com/ This show is part of the ICT Podcast Network. For more information, visit ictpod.net.

    15 min
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About

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.

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