99 episodes

The weekly podcast with serial entrepreneur, Dave M. Lukas, devoted to giving you incredibly useful and unique insight from the world's top entrepreneurs with a focus on their non-traditional methods for achieving success, their Misfit side. Misfit was created to give YOU the best, actionable advice to accelerate your success! The show's open format and Misfit 3 concept, combined with Dave's intuitive and engaging interview style quickly uncovers each guest's key tools, tactics, and tricks that listeners can start using in their lives right now. Learn more about the show at www.misfitentrepreneur.com and become a member of Misfit Nation by signing up for the Misfit Minute, the FREE weekly email with specific resources from the week's "Misfit 3," and actionable tips and items from the world of Misfit Entrepreneurs. It is delivered every Friday to your inbox!

Dave Lukas, The Misfit Entrepreneur_Breakthrough Entrepreneurship Dave M. Lukas, Entrepreneur, Author, Investor

    • Business
    • 5.0 • 52 Ratings

The weekly podcast with serial entrepreneur, Dave M. Lukas, devoted to giving you incredibly useful and unique insight from the world's top entrepreneurs with a focus on their non-traditional methods for achieving success, their Misfit side. Misfit was created to give YOU the best, actionable advice to accelerate your success! The show's open format and Misfit 3 concept, combined with Dave's intuitive and engaging interview style quickly uncovers each guest's key tools, tactics, and tricks that listeners can start using in their lives right now. Learn more about the show at www.misfitentrepreneur.com and become a member of Misfit Nation by signing up for the Misfit Minute, the FREE weekly email with specific resources from the week's "Misfit 3," and actionable tips and items from the world of Misfit Entrepreneurs. It is delivered every Friday to your inbox!

    Building Unicorns, How Andy Mowat Helped Build 3 $1 Billion+ Companies

    Building Unicorns, How Andy Mowat Helped Build 3 $1 Billion+ Companies

    This week’s Misfit Entrepreneur is Andy Mowat. Andy has helped build 3 $1Billion+ companies, Upwork, Boc, and Culture Amp. He is a serial entrepreneur who knows how to build a scalable company that gets results. His specialty is building successful sales and marketing organizations.
    But, at the core, he’s a great entrepreneur. He knows how to spot a trend, create the vehicle to capitalize on the opportunity, and make it go. Most recently, he is doing that in his latest company, Gated, which is a unique twist on how people can access you.
    I want to discuss all of this with him today and squeeze all of the wisdom I can from him on how to start, grow, and build a brand.
    https://www.gated.com/
    Andy’s path was not a straight line. He went to college on the East Coast and ended up in finance and banking. He took Czech while he was in college and ended up going into private equity in eastern Europe.
    He ended up running the finance function for every grocery store chain in Czech Republic, Slovakia, and Poland. It was early in the days of coming out of Communism and was eye opening.
    He then went to business school but came out in 2001 and things were slow. He found a family office to work for and they tasked him with finding a new business to buy and get into. He suggested health clubs and ended up building high end athletic clubs throughout the west. He knew tech was where it was at, so he then reached out Elance and others and cold called the CEO’s ending up working for Elance. He ran sales and marketing operations. He then went to work for a company as a co-founder outsourcing administration assistants. He then went to work for BOCs running all their post-sale operations and then leading marketing. He then went to work for CultureAmp taking it from $5 mil to $80m. Along the way, he noticed the need to need to better guard a person’s email, so he built Gated.
    At the 7:30 mark, Andy shares what Gated is. It is an email management system that keeps people from getting to your inbox unless they are willing to give a donation to charity. It helps to make sure you are communicating with people that genuinely want to communicate with you.
    What elements are needed to build a unicorn – a billion-dollar company?
    Product/Market fit Brand If you don’t have those 2 things, it’s almost impossible. Andy gives an example of ow this happened with CultureAmp. Talk to us about Go to Market Machines. How do you build a successful, scalable business?
    It is a custom fit each time. It is not “cookie-cutter.” Andy starts with marketing because you must have the demand generation. Pattern recognition is important, but a marketing strategy must be customized to each company. Andy has a 6-part article series on his LinkedIn that lays out how to build the Go to Market engine. Any specific part of the 6 that you feel is most important?
    The team is the most important aspect of a growth engine. What are the key elements to building a successful sales team and growth engine?
    Read Jason Lumpkin’s stuff around hiring and building sales teams. Invest deeply in sales-enablement vs. throwing people at the problem. From a sales enablement standpoint, the managers are your customers, not the reps. If the managers aren’t deeply invested in the training and asking for what is needed to make their people better, it won’t do well. Invest in good managers and support them well. What should business owners and entrepreneurs do from the start to avoid some of the common mistakes in building a sales organization?
    The classic mistake is that founder’s hire a salesperson thinking they can figure out how to go to market. The founder needs to do that and figure it out. The founder needs to be selling the first half million to a million of ARR. You need to be able figure what the repeatable sales process is before you bring someone into to sell. At the 17 min mark, Andy talks about being a non-technical founder….
    What type of d

    • 42 min
    Lessons for Hannah - When Its Most Important to Keep Going

    Lessons for Hannah - When Its Most Important to Keep Going

    Hello Misfit Nation! Welcome to another edition of "Lessons for Hannah!" Many years ago, I introduced a new format that alongside our regular episodes called “Lessons for Hannah.” Hannah is my daughter and one of the main inspirations for the Misfit Entrepreneur. I wanted to have a place where she could go and learn from her daddy and his Misfit friends throughout her life….even after I am gone. If you haven’t listened to the first episode of "Lessons for Hannah," I urge you to as it gives some more background and tells the amazing story of how Hannah came to be in our lives.
    Lessons for Hannah are short, very useful, and sometimes comical lessons, that I want to share with you and give to Hannah to help in your lives. Because I want Hannah to have these for her life, I’m going to speak as though I am talking directly to her. These episodes are a lot of fun and if you think there is a lesson that we should include in these episodes, please don’t hesitate to send it over to us at support@misfitentrepreneur.com. We’d love to share it.
    This week’s Lesson for Hannah
    Hannah, I want to share something with you that I’ve learned over the years. It’s something I have noticed about human nature. And it’s pretty consistent. Most people give up too early or right before they find success or get the breakthrough they have been seeking.
    This usually happens because people cannot stay in the game long enough for all the work and effort to truly payoff. To be fair, some of this is because society has conditioned us for instant gratification. Everything has to be now, now, now.
    In some ways, we all have what I call a “chaos switch” which is a pattern in human in nature to disrupt and change when things have been consistent for a while or even when things have been good for too long. It’s almost like in some ways we are wired to self-sabotage. And that is what happens to people over time and the reason they don’t succeed in reaching the levels they want.
    But the secret to lasting success is to stay in the game. To outlast. Where everyone else is throwing in the towel or letting their chaos switch get the best of them, we need to focus on press on. When you feel these moments in your life is when it is most important to keep going. We need to continue toward our goal or stick with our endeavors.
    I will give you an example. At 9 years old, you just got your Black Belt in Tae Kwan Do. It’s an incredible achievement that you worked several years to achieve. And after working for that long and achieving the goal, you may feel a little like it is time for a change. Time to do something else. In fact, I sense you feeling a little this way recently. That is the chaos switch in action. At 9 years old with a level 1 Black Belt, you are really just getting started on your journey. You love Tae Kwan Do and there are many more degrees of Black Belts to go. To achieve true mastery, you will need to keep going. After all, you’ve put in years of work to get this point – and now is when things get really good, and you start to learn the best stuff in the sport – it would be a shame to stop now. But that is what a lot of people do. They stop or give up right before all of the best stuff comes their way!
    Hannah, and everyone listening – don’t be one of those people. You must have the fortitude to keep going and see things through to their best levels and outcomes. Don’t let the chaos switch sabotage you from achieving your dreams, goals, and reaching your best self. Resolve to follow what I’ve called the DCP formula. The D stands for discipline. The C stands for consistency. And the P stands for persistence or perseverance. Now when you hear that you think, duh, yeah those are needed to succeed. But what do they really mean? What is discipline? Discipline is doing the things you know you need to do, even when you don’t want to do them. Consistency is doing that day in and day out. You can be disciplined

    • 6 min
    From Filmmaker to Selling St. Archer Brewing for Over $100 million and Doing it Again with Josh Landon

    From Filmmaker to Selling St. Archer Brewing for Over $100 million and Doing it Again with Josh Landon

    This week’s Misfit Entrepreneur is Josh Landon. You may not have heard of Josh and his holding company, Wings and Arrow. But you’ve certainly heard of his products such as Ashland Hard Seltzer, Voyage Hard Lemonade, and several others.
    Josh is a serial entrepreneur. He sold his first business, St. Archer, to Coors for over $100 million and built Wings & Arrow’s portfolio to millions in revenue from the ground up. In fact, he was given a hefty offer from Anheuser-Busch after only 11 months of building Ashland Hard Seltzer, but he decided to hold on and keep growing the brand.
    Through it all, Josh hasn’t compromised his passion for his craft and mission to create unparalleled products for customers. I'm excited to unpack his journey and his lessons lessons learned on the way.
    www.AshlandHardSeltzer.com
    www.VillagerSpirits.com
    Josh took an unconventional path to becoming an entrepreneur. He started out as a filmmaker and still is. He still does all the film for the brands. He was documentary filmmaker making surf films. He won a number of film festivals and was a working filmmaker.
    How did you go from film making to building St. Archer and selling it?
    As with any business, it started with an idea. Josh was on surf trip in Puerto Rico with some of his surf buddies and a Tequila brand approached them about investing in the business and being an ambassador. He didn’t think it was a good idea and thought a better idea was to do it with craft beer because of its popularity. That’s when the lightbulb went off the produce a beer that is part of the surf/skate lifestyle that has come from them. There was never an authentic brand from the people that made up the pro-surfers, snowboarders, skaters, etc. He decided to do it and worked with many of the greats in the industry that could be ambassadors. But he knew nothing about the business or brewing beer. He knew he could build a brand and that is what he set out to do. He didn’t go to college or have a degree. He didn’t even know what a capital raise was. He bootstrapped and did it and figured it out and focused on what was in his control. What are you doing different from your experience with St. Archer with Ashland? Anything you learned that made it easier?
    He sold St. Archer to take the brand national, but it was also to see how he would move on and what could come next after getting the financial windfall. He could have stayed at St. Archer/Coors, but he realized that he was motivated by more than the job and security of the money – he was an entrepreneur. He is driven to complete at the highest level with his businesses and knew that he could not do that at Coors. At the 13 min mark, Josh talks about the life of the entrepreneur and putting his family through everything over the years.
    You’ve raised $50+ million with no venture money and giving up big chunks of the business?
    Raising money comes down to an ability that is not really a learned trade. You have to authentically tell the story/vision of the brand/company you are creating, and people buy into it. There is no step by step to raise money. A lot of it is personality, but also circumstance. At the 17 min mark, Josh talks about when he made the decision to go all in on St. Archer and move from Ventura to San Diego with his family. He had nothing and had to win and that was part of the story and why people invested. He was all in and had to make it happen.
    What have you learned about building a successful brand and community?
    With St. Archer, he created the brand that he wanted to see and be a part of. What has worked is having celebrities as investors, but active in the company and brand. They don’t just buy in and go away. If he is going to have them invest in it, then they need to be a part of it. Build a brand that people want to be a part of…if he likes it, he wife, and his friends/business partners – then it is a go. Beware of overanalyzing. Create the brand you want, articula

    • 44 min
    The Harder You Work, the Luckier You Get, How Liz Elting Grew TransPerfect to $1 Billion

    The Harder You Work, the Luckier You Get, How Liz Elting Grew TransPerfect to $1 Billion

    This week’s Misfit Entrepreneur is Liz Elting. Where to start with Liz. She co-founded TransPerfect, the world’s largest provider of language and business solutions. The company does over $800 million in revenue per year and employs over 6000 in 100+ cities across the world. She has been recognized and awarded with everything from Ernst and Young’s entrepreneur of the year to being named one of Forbes richest self-made women many years running. She and her story have also been highlighted in numerous books and publications.
    More recently, Liz is known for her philanthropic efforts with her foundation, the Elizabeth Elting Foundation which works to advance the economic, social, and political equity of women and marginalized people.
    I’m excited for Liz to share her story with you and the lessons she’s learned along the way.
    www.ElizabethEltingFoundation.org
    Growing up, Liz lived in a number of different places. Everywhere from New York to Portugal to Canada. She went to college in the US and realized she could pursue her passion of languages. She just didn’t know what she would do with it – but her dad told her to follow her passion. After college she worked the translation industry in New York. She found a company that was the largest translation company in the world that helped combine her passion for language and business.
    She worked in the company for 3 years and learned the industry. She then went back to school and got her MBA. While in business school, she decided to go into finance and briefly tried out investment banking. She realized she made a huge mistake and then started TransPerfect in November of 1992. In 2018, she sold half of her company and started her foundation.
    When we first spoke, you said, “The harder you work, the luckier you get.” Explain that…
    That is Liz’s mantra ever since she grew up. She really felt it when she started her company working 100 hours per week. She delayed gratification and it paid off. She had to work intensely and not quit and the more she put in and more focused she was, the more successful the company became. At the 9:30 mark, we discuss the first products developed and how Liz got her initial clients, then scaled…
    At the other company she was at, they translation work for companies, but Liz knew there was so much more that they needed. She knew that everything needed to be able to work in every language. The first product was standard translation services for companies, but the goal was to become the end-to-end solution. The goal was to do anything in a foreign language to scale. Over time they talked to their clients and really listened. They needed things like staffing and litigation support and content management services. Then they found a way to offer it to them. Talk about going through the stages of business growth – which ones did you feel were the hardest?
    The first million is by far the hardest. It is much harder to go from $0-$1 million than from say $5 mil to $500 mil because by that time, you have built the teams, systems, client base, etc. Initially, you don’t have that. One of the core values was “Own It” and so when they started in a new market or sale, it was set up like that - employees owned it. It was then that had to build the first million in the market, etc. The sales teams had to work very hard. Tell us about the core values. What are they and how have they made a difference for the company?
    The core values end up being what is important to you and your life. So, for Liz, integrity and honesty was critical. One of the questions she would ask in an interview is “What would you do if you saw someone stealing money out of the cash register?” The answers were eye-opening. Owning it was another value that she embodied, and it became another core value. They ultimately had 10 core values. Is there a skillset or mentality that you feel is most important for success in today’s world?
    You must have the wor

    • 47 min
    Misfit Entrepreneur 2021 Year in Review

    Misfit Entrepreneur 2021 Year in Review

    Misfit Nation! Welcome to the Misfit Entrepreneur 2021 year in review where each year I attempt to boil down all of the incredible, useful information, strategies, and tips that our guests have given on the show into less than one hour for you…with a few surprises thrown in. Now, it’s impossible for me to go over every single best piece of advice and that is why I urge you to take some time and go through the Misfit Archives to see which episodes resonate most with you, but in doing this episode, my goal is to spur ideas – to give you a lightning strike that propels you down a path of action to better improve yourself, your life, and your business or career in 2022!
    That’s why I do this show – to not only provide a treasure trove of some of the best information to succeed in life and business for my daughter, Hannah, for when she grows up, but to give you a place where you know you can come each and every week to get inspired and find real, tried and tested tips, secrets, and strategies to succeed in all areas of life, and to share different perspectives from some of the highest performing entrepreneurs in the world with you. I truly believe that one great episode can change someone’s life and that’s what we set out to do each and every week. ​
    But, before I begin I want to tell you something. I want to say “Thank YOU.” Thank you for listening. Thank you for your support of the show and thank you for sharing our message. Without you and the amazing feedback members of this audience give me every week, it would not be half of what it is. Because of you, this show has reached hundreds of thousands of people in over 150 countries. I am truly humbled and in awe at what we’ve done together and I am excited about having an even bigger impact with your help in 2022. So, from the bottom of my heart, Thank you, thank you, thank you!
    THANK YOU, THANK YOU, THANK YOU, and I hope you enjoy this episode as much as I did creating it for you!
     
    Notion.SO
    Go to www.Notion.SO and get started for FREE!
    Five Minute Journal
    www.MisfitEntrepreneur.com/Journal

    • 48 min
    The Art of the Startup and Pitch with Slidebean Founder, Caya

    The Art of the Startup and Pitch with Slidebean Founder, Caya

    This week’s Misfit Entrepreneur is Jose “Caya” Cayasso. Caya is a serial entrepreneur who is best known for founding Slidebean and Recurring. He is a TEDx speaker, 40 under 40 recipient and has received a host of other awards for his efforts.
    Slidebean is part of the Silicon Valley accelerator, 500 Startups and has grown tremendously. The company helps startups solve their pitch deck needs,
    What I love most about Caya is how he has built his companies made them successful through organic efforts through content strategies. In fact, his YouTube channel has over 300,000 subscribers. I’m excited for him to share his strategies with you.
    www.youtube.com/c/Slidebean
    Caya says he made it to where he is a little bit by accident. In his first company, he didn’t really understand what a startup was. He just built a little game and put it on Kickstarter, and it got picked up. That lead to investors reaching out asking if he was raising money, etc. He didn’t know what they were talking about. He had to go through the crash course of learning the startup and investment game with the first company which didn’t end up making it. But, with Slidebean, he has learned from his mistakes and experience and has applied as well as shared with others to help them.
    Talk about finding a business accelerator and how that helped you and helps startups…
    There is a big debate on whether it is worth to give up equity to an accelerator. Accelerators are fantastic crash courses in how to navigate a startup giving you the training and information you need to succeed. They give you guidance, teach how to pitch and better run your business and help you with their network. They are a great bridge for a soft landing as a startup. Benefits and disadvantages?
    If you have the network and connections and access to investment, then you may not need one. Accelerators also require equity in exchange for working with them. It is usually about 6% equity for a 6-figure check, so it is not a bad trade off for companies that little to no revenue and no profit. The biggest advantage outside of capital is the resources available and that they bring to the table. What makes a great pitch deck?
    A pitch deck is your business story. It doesn’t matter how many slides, but it matters how you tell you story and the data you use. You typically have to send your deck into investors for them to review and decide if they will meet with you. Investors on average will spend 4 minutes looking at your slides. So, you have to tell your story in essentially 4 minutes. Any specific elements that should be in a pitch deck?
    How you are going to make money for the investor. A good structure is the following: Intro: Who you are and a little bit of a teaser. Status Quo: This how the market is behaving today, and this is the pain point that can be solved. Problem slide, business opportunity slide, solutions slide. Product/Demo: Showcases the solution and how it makes money. This where you brag. Market: State of the market, how big it is, competition, and how you will beat the competition. Why Us?: Team, why you are the best to solve the problem and maybe a why now it is needed. Ask for Money: How much you need, how you will use it, and how it will make vision reality. You’ve built your companies leveraging content, tell us about the content strategies you’ve used to grow your businesses – what works, what doesn’t?
    YouTube was sort of an accident. It was to market for Slidebean but became more for people following Caya and his journey. You want to create that generates SEO – it’s interesting, it has good data, it is worthy of sharing and people want to share it. Spend time up front to really understand key words to incorporate into your content to make sure Google is associated you appropriately. AdWords is possible, but you need to know your metrics well to make it profitable. Best practices for creating content and optimizing SEO?
    SEO is a sc

    • 47 min

Customer Reviews

5.0 out of 5
52 Ratings

52 Ratings

johnmitchell82 ,

Wisdom so usable

Love this podcast. It’s a must listen to for entrepreneurs. So many diverse ideas and wisdom is dispersed. Keep it up.

FoundersSpace ,

Misfits Unite!

If you're a misfit, like me, you'll relate to this podcast. It's for all of us oddball entreprenuers out there.

Sleepmatic ,

Bite Sized Nuggets

Have been a huge fan of the Lessons for Hannah pieces. Each one is a pearl of wisdom in a short and digestible package. Keep it up!

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