Second Act Business Owner

Lee Gray
  • 5.0 (3)
  • 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. 14h ago

    Embracing the Law of the Vacuum

    Are you holding onto something that's keeping your next opportunity from finding you? What if the secret to growing your business — or stepping fully into your second act — isn't about adding more, but about letting go? In this episode, we explore the Law of the Vacuum: the powerful principle that says nature hates an empty space, and that when you intentionally release what's no longer serving you, something better rushes in to fill that space. We look at real examples from coaching, retail, and restaurants to show how this law plays out in business every day — and how it applies directly to your life as a second act business owner. Whether it's a draining client, an overstuffed menu, a cluttered garage, or a job that's crushing your spirit, making intentional space is often the most strategic move you can make. Highlights The Law of the Vacuum explained: Why you can't receive what's next while holding onto what no longer serves youHow one business owner went from drowning in admin tasks to landing a new client at his very first coffee meeting — after delegatingWhy subtraction in a restaurant (cutting menu items) often leads to multiplication in profitsThe garage test: If your garage is full, a new car can't fit — and the same is true in your business and lifeHow draining clients block ideal clients from finding youWhy trying to add a second act on top of an already full life usually doesn't workCoach Lee's personal story: Being let go at 51 opened the vacuum that led to the second act he's living nowPractical reflection questions to identify what you need to release right now Chapters 0:00 — Intro 1:05 — What the Law of the Vacuum Means 2:11 — Coaching Story: Delegation Wins 4:24 — Retail and Restaurant Examples 6:15 — The Garage & Closet Space Check 7:03 — Letting Go of Draining Clients 7:37 — Making Room for Your Second Act 9:51 — Coach Lee's Personal Turning Point 10:01 — What to Release and Next Steps 12:05 — Quiz Invite & Wrap Up Want to get more help from Lee with your business? Visit her website: https://leegray.actioncoach.com/ Identify your strengths and weaknesses as a second actor with our comprehensive Second Act Assessment. https://secondact.scoreapp.com This show is part of the ICT Podcast Network. For more information, visit ictpod.net.

  2. Aug 6

    Transform Your Mindset: Moving Above the Point

    Are you living above the point... or below it?   If you catch yourself blaming traffic, making excuses, or just flat-out denying a problem exists, this one's for you.  I'm breaking down a simple but powerful tool I use with my own team and clients to instantly diagnose whether we're operating from ownership or from excuses — and how you can use it starting today, with your team, your family, or yourself. HIGHLIGHTS The "BED vs. OAR" framework: Below the point is Blame, Excuse, Denial. Above the point is Ownership, Accountability, Responsibility.A real-world example of someone arriving late and blaming the city — and how to coach them toward taking responsibility instead.Why denial is actually the lowest, most dangerous level of being below the point.How this tool works in workplaces, production facilities, and team settings — not just one-on-one coaching.Why this concept is so effective: it's simple, non-threatening, and gives people an easy way to self-diagnose. CHAPTERS 1:23 – BED vs OAR 2:25 – Blame: The Late Arrival 3:50 – Taking Responsibility 4:26 – Above the Point Sales Mindset 5:29 – Using the Tool with Others 6:17 – Denial and Empathy 7:06 – Workplace and Team Applications 8:02 – Take Ownership Daily 8:24 – Next Steps Want to get more help from Lee with your business? Visit her website: https://leegray.actioncoach.com/ Identify your strengths and weaknesses as a second actor with our comprehensive Second Act Assessment. https://secondact.scoreapp.com This show is part of the ICT Podcast Network. For more information, visit ictpod.net.

  3. Jul 23

    Beneath the Surface: Shape Skills, Beliefs, and Actions with the Identity Iceberg

    Why is it that sometimes what you see isn't what you get?  Today we're pulling back the layers on something I call the Identity Iceberg — the hidden forces of environment, beliefs, values, and identity that quietly shape the actions, behaviors, and results everyone can see on the surface. If you've ever wondered why some habits stick and others don't, or why you (or someone you know) keeps landing on the same outcomes, this conversation will give you a framework to understand it — and a few simple steps to start shifting it. Highlights The "identity iceberg" framework: actions, behaviors, and decisions sit above the waterline — visible to everyoneSkills live just below the surface and start to show up as you get to know someoneBeliefs (often formed as early as age 3-10) quietly drive which skills we choose to pursueValues, instilled from childhood, shape the beliefs we carryIdentity is the self-talk we repeat when we're alone — and it's often more negative than positiveThe environment (people, news, food, education) surrounds the whole iceberg and has a massive influence on every layerReal change starts at the environment level and works inward: environment, then identity, then values, then beliefs, then skillsAction steps: shift one environmental factor, change one identity statement, share a value with someone, and identify one belief to update Chapters 00:00 – Intro 01:25 – Actions Above Waterline 02:24 – Skills Below Surface 03:40 – Beliefs Drive Skills 04:52 – Values Shape Beliefs 05:49 – Identity & Self-Talk 07:14 – Environment & the Ocean Effect 08:30 – How to Shift Each Level 10:28 – Your Action Steps 11:22 – Observe Others 12:35 – Wrap Up Want to get more help from Lee with your business? Visit her website: https://leegray.actioncoach.com/ Identify your strengths and weaknesses as a second actor with our comprehensive Second Act Assessment. https://secondact.scoreapp.com This show is part of the ICT Podcast Network. For more information, visit ictpod.net.

  4. Jul 9

    Measuring Success | The Key Indicators (KPIs, KBIs, and KAIs) of Business

    What if the goal you set for your business this year is dead on arrival — not because it's a bad goal, but because you have no way to measure whether you're actually moving toward it? Today we're breaking down the difference between a goal and a plan to achieve it, using the same thinking elite soccer players use to track their performance toward a win. I walk through how to build a SMART (or SMARTY) goal, then how to support it with three types of measures — key performance indicators, key activity indicators, and key behavior indicators — so you always know exactly where you stand. Highlights Why a goal without a measurement system falls apart, no matter how ambitious it isHow to write a SMART goal — specific, measurable, achievable, relevant, time-bound — and why adding a "Y" (why it matters) makes it even strongerThe three types of business indicators: KPIs (key performance indicators), KAIs (key activity indicators), and KBIs (key behavior indicators)A real-world breakdown of each indicator type using a plumbing business as the exampleThe recommended structure: three KPIs, three KAIs, and three KBIs per person or departmentWhy goals should be measured on a 13-week (quarterly) cycle instead of waiting a full yearHow often to review your numbers, and why accountability with a direct report mattersA reminder that indicators need to be tracked consistently, not just set and forgotten Chapters 0:24 — Why measuring activity is the key to hitting your goal 1:23 — What makes a goal a SMART (and SMARTY) goal 2:32 — Introducing KPIs, KAIs, and KBIs 3:38 — Applying the three indicators to a plumbing business example 4:51 — How many measures you need and how to narrow them down 5:34 — Why goals should be reviewed every 13 weeks, not once a year 6:41 — How often to track and review your numbers, and staying accountable 8:21 — Closing thoughts and the free Second Act assessment Resources Mentioned The Second Act Business Owner self-assessment (referenced as available to listeners at any time — no specific link was mentioned in the episode) 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.

  5. Jun 25

    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.

  6. 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.

  7. 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.

  8. 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.

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Ratings & Reviews

5
out of 5
3 Ratings

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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