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Here, we are Entrepreneurs Through Acquisition #ETA. Here, is where we come to find one another, to learn new ways to play our game, and get ideas on entirely new games to try - short, long and infinite. Here, we are working to learn and share the knowledge of investors, investment bankers, lawyers, accountants, founders, leaders, builders and their advisors so that we may apply it ourselves and share it with anyone else seeking the path.Listen and learn how to buy, operate and grow a proven business from a retiring owner to secure your first seven figures and set yourself up for life.Check us out at https://www.myfirstseven.com or reach us by emailing engage@myfirstseven.com

My First Seven Chris Popoff

    • Investering

Here, we are Entrepreneurs Through Acquisition #ETA. Here, is where we come to find one another, to learn new ways to play our game, and get ideas on entirely new games to try - short, long and infinite. Here, we are working to learn and share the knowledge of investors, investment bankers, lawyers, accountants, founders, leaders, builders and their advisors so that we may apply it ourselves and share it with anyone else seeking the path.Listen and learn how to buy, operate and grow a proven business from a retiring owner to secure your first seven figures and set yourself up for life.Check us out at https://www.myfirstseven.com or reach us by emailing engage@myfirstseven.com

    Irradiation (for James Burwood)

    Irradiation (for James Burwood)

    A brief, but necessary tribute to a dear friend and co-conspirator, James Burwood. Love you James.

    • 9 min
    Unlimited Giving and Receiving with Avnish Mehta

    Unlimited Giving and Receiving with Avnish Mehta

    What does it mean to truly live in contribution and service of others? It appears to manifest first as a mindset that permeates every action you take. Eventually and counterintuitively, this focus on others will shape you into something great. This episode's guest is a prime example of someone that humbles me in a way that is hard to describe. I would feel less than in his presence if it weren't for his near infinite kindness. Join me in sitting with an absolute juggernaut of a human being, Avnish Mehta.
    After successful runs in both corporate and non-profit focused endeavours, Avnish finds himself the founder of strategic communication and leadership coaching consultancy, Stand and Command.

    As much as I adore what they are doing there, what I really admire Avnish for is his ability to walk the world in a way that is clearly heart first, and as he does so he shapes that world into something more beautiful. The most recent accomplishment that speaks to this is the opening of Calgary's New Central Library in the rapidly revitalizing East Village, where Avnish serves as the chair of the New Central Library committee. It cannot be emphasized enough what a blessing this place is for our city, or how lucky we are to have people like Avnish here making things like this happen.

    This is admittedly a bit of a time capsule, as we originally recorded almost a year before the date of publishing. Somehow though, it feels appropriate as we spent a great portion of the interview discussing how modern libraries are transforming and why we need them more than ever. Listening back, it would have been a cruel tease to talk about this place without it being open to go experience it for yourself to truly understand. 

    It was a joy to rediscover this conversation as it is full of a surprising richness and depth where the .topics we cover felt more relevant than ever.

    In addition to our conversation about how you can be leveraging your city's library network into a decisive advantage for your business, we get into such topics as:
    Avnish's history and how he came to be so clear on who he isHow to properly serve the non-profit sector for freeCourageously determining true values in oneself and in organizationsMoving out of Judgement and into ObservationHeavy vs light goal setting heuristic Beating competition your admireThe diminishing advantage of expertiseOn what Calgary is becomingUniversal Basic Income / Social TenureOn fear and meditating in KenyaSeeking Alpha (not from a traditional investment standpoint)The role of emotion in suboptimal performanceAv's 3 things every entrepreneur needs for a successful career And more...

    Enjoy!
     

    • 1 tim. 50 min
    Creating alignment in partnerships with the 6 D's of shareholder agreements

    Creating alignment in partnerships with the 6 D's of shareholder agreements

    We've recently started a coaching group that takes interested parties, mostly fans of the show at this stage, and brings them together under the protection of mutual non-disclosure agreement to work on going through a full acquisition cycle. 

    This is a mini-episode geared towards elevating one of the great questions coming out of the group because we have been getting a lot of feedback from listeners that you'd like more detail and tactical content when it comes to buying your first small business. 

    In this episode we address when is the correct time to incorporate and formalize a business partnership, and delve into how to address the possible assumption of risks with your spouse/significant other, and applying the 6 D's towards having a productive conversation about how your partnership will work. This is a simple exercise you can run through with your potential future partners as a way to value map, and get on the same page informally before you get too far down the path. 

    Choosing the right partners makes a big difference in this game, and if you cannot have these difficult conversations with them, you're not likely going to be able to handle truly stressful situations when operating together. 

    Try it out and let me know what you think.
    Interested in joining a buyer's group yourself? Email me at engage@myfirstseven.com

    • 16 min
    A Few Good Ideas, Well Executed with Ian MacGregor

    A Few Good Ideas, Well Executed with Ian MacGregor

    What happens when you put the right mind, the right values, the right work ethic in front of the right apprenticeship and a world of opportunity? 

    Ian MacGregor has had a 50+ year career as an engineer, entrepreneur, business builder, inventor, investor... it has led to a crescendo of a world-shaping master craftsman of an entrepreneur.

    If you think I am exaggerating, check out the museum of antique tools and machinery that he has conceived, constructed and curated in a fantastic subterranean concrete structure in Alberta's mystic foothills. The collection includes pieces like a full sized, two story tall steam engine from the industrial revolution - buried underground; or the EXACT prototype machine that the very first helical drill bit was made on. These are things that MASSIVELY transformed our world whether you appreciate it or not. 

    Or just look at the 9.5 Billion dollar, First-of-a-Kind, Bitumen to Diesel plus carbon capture refining complex that he and his partners at NorthWest Capital recently completed. If you don't know this story, you haven't been paying attention, and really missed out. NW Cap solved one of the most complex set of hurdles to get this thing done, but made it LOOK tremendously elegant and well timed. They got A LOT of haters from the both the ill-informed and overly-informed crowds the whole way, but when you look at the REAL numbers, it is a clear slam dunk economically as well as a truly forward thinking piece of design. I love seeing great examples of projects that advance us meaningfully on the sustainability continuum, trust me, it is going to lead to tremendous things for this place.

    If you're an engineering nerd like I pretend to be sometimes, this is like witnessing a real life version of Iron Man or Batman at work. The guy still boxes on the weekends!

    We cover topics such as:
    Ian's thoughts on acquiring existing businesses as an entrepreneurial strategy with special points to the current owners contemplating sellingIan's personal entrepreneurial journey which includes inspiration from Barber's Gamble, a $2500 loan, and an astute ability to pay attention to the right chance opportunities along the way Capturing additional risk premium as an entrepreneur through engineering knowledgeManaging risk, partnerships and identifying true expertiseGetting clear on personal valuesImproving prioritization and decision makingValidating opinions for correctnessDeep dive on the myth of refineries being a poor economic investmentA little O&G Tech-Talk Future looking thoughts on what Alberta can do to remain prosperous, our place as Canadians, and leveraging idle sensors to create an open source data library for future generations of entrepreneurs Plus probably the best rapid fire sessions I've recorded including a surprising take down of discount cashflow analysis of all things

    This is what forward motion as an entrepreneur looks like. Build it deliberately and quietly, stay committed, focus on the things you're good at and enjoy, apply what you learned on previous work, but most of all, don't stop!

    Ian shared that someone once described him as "not the easiest guy in the world to work for", but I think he's probably one of a very small handful of people on this earth that I actually would relish working for. 

    I loved doing this episode, and truly hope you enjoy and get as much out of it as I did.

    Other People Mentioned
    Peter Drucker
    Abraham Lincoln
    Ulysses S. Grant 
    Ryan Holiday recounting General Sherman's March to the Sea
    Ryan Holiday - Daily Stoic
    Brian Fry - i4C.tech 
    Enhance Energy / Alberta Carbon Trunk Line
    Metal Tech Alley (Trail, BC)
    Carraig Ridge 
     
      

    • 1 tim. 13 min
    Selfless Innovation with Rachel Pritzker

    Selfless Innovation with Rachel Pritzker

    Rachel Pritzker (@forachelp) is the co-founder and president of the Priztker Innovation Fund, and co-author of the Ecomodernist Manifesto (watch the TED talk here). She is one of the most balanced, data driven, level headed and quietly influential advocates in clean energy policy today. And she does so without having a personal stake in the game, she does it for the billions of faceless strangers that she know will benefit from clearing the spaces that she does. Rachel is therefore one of the most interesting philanthropists I have ever had the pleasure of knowing, so I invited her to be on the show to provide some insight into the whys and hows she manages to do the purpose driven work that she does.

    Enjoy!

    • 52 min
    From Broke to Three Zeros Fewer than Warren Buffett with Brad Nathan

    From Broke to Three Zeros Fewer than Warren Buffett with Brad Nathan

    It's a funny thing to think you're doing something totally clever and unique, and then run into someone who has been doing the exact same thing for almost 20 years except much, much better. You'd think that you'd feel threatened or maybe get this sense that you're not doing enough, that you're totally behind... but that's not what happened to me when I met Brad Nathan. Instead, I found an example of someone I really want to be like when I grow up.

    Brad is the founder and CEO of Lynx Equity. They acquire established small businesses from retiring owners who make an EBITDA in the range of $750,000 - $2,000,000, using a vendor take back model. They started in the Toronto area with three small deals on the back of a capital raise, and have since grown it to a family of operations with over 40 entities earning $25 million EBITDA annually on consolidated revenue in excess of $325 million, funded by $125 million in capital sourced everywhere from high net worth families, institutional investors and pension funds. Oh yeah, there was that little bump in the road along way where Brad was so broke he couldn't even afford to pay his hot water bill. But the numbers aren't everything, they're a result. He got here by focusing on PEOPLE. 
    Listen in as we discuss details on what it really means to humanize the business of mergers and acquisitions,  the qualities one needs to possess to have a long run in this industry, what to look for in a seller, how to be patient, to follow your heart and make yourself invisible to the competition. Oh and I think there was a story about a Mexican Fisherman in there somewhere too. 
    I had a blast with this episode, we even threw a little shade at consolidation players and the hyped up public markets backing barely profitable ventures like Freshii. 
    The best news is that if you ever want to get advice from Brad himself on your deal, you just have to make a donation to the Toronto Wildlife Centre and ask.

    Enjoy!  

    • 55 min

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