Frugalpreneur: Building a Business on a Bootstrapped Budget Sarah St John

Guest Bio
Steve Wallace is a seasoned sales professional and Chief Revenue Officer at Maverick App. With a background in insurance sales and a knack for outbound prospecting, Steve has honed his skills in building a book of business from scratch. Today, he focuses on training other sales agents and elevating their careers through effective business development strategies.
Episode Overview
Are you ready to take your sales game to the next level? In our latest podcast episode, we sit down with Steve Wallace, a bootstrapped entrepreneur who has successfully built his business from scratch and climbed the ranks to become a Chief Revenue Officer.
Steve shares his journey, the challenges he faced, and the tools and strategies that helped him succeed. From mastering outbound prospecting to leveraging free and inexpensive tools like Calendly and LinkedIn Sales Navigator, Steve's story is packed with actionable insights that you can apply to your own business.
One of the key takeaways from this episode is the importance of reinvesting in your business. Steve consistently allocated 3-10% of his gross revenue towards business development, allowing him to gradually upgrade his tools and systems for better efficiency and productivity.
Don't miss out on these valuable insights. Listen to the full episode now and discover how you can implement these strategies to grow your business.
Episode Highlights:
1. The Challenge of Churning:
Steve explains the concept of churning in the insurance industry and why it’s essential to avoid it. Learn how he navigated this challenge and built a new book of business from scratch.
2. Becoming a Prospecting Monster:
Discover how Steve became an expert in outbound prospecting and the importance of combining quality, consistency, and persistency to find clients.
3. Leveraging Free and Inexpensive Tools:
Steve shares his journey from using free tools like Calendly to investing in paid versions and other business development tools like LinkedIn Sales Navigator and Maverick App. Understand the importance of allocating a percentage of your revenue towards business development.
4. Transition to Training:
After achieving success in sales, Steve felt the entrepreneurial itch and transitioned to training other agents. Learn about his role as Chief Revenue Officer at Maverick App and how he helps elevate other sales professionals.
Key Takeaways:
1. Avoid Churning: Understand the pitfalls of churning and why building a new book of business is essential for long-term success.
2. Invest in Tools: Utilize free and inexpensive tools initially, but be prepared to invest in more advanced tools as your business grows.
3. Allocate Revenue for Growth: Dedicate 3-10% of your gross revenue towards business development to ensure continuous growth and improvement.
4. Training and Mentorship: The value of training and mentoring others in your industry can lead to new opportunities and professional growth
Resources
https://maverickapp.io/
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💬 Show Notes
Guest Bio
Marcus Higgs is a former high school English teacher turned transformational coach. With a background in teaching across South Korea, Spain, Thailand, and Saudi Arabia, Marcus brings a wealth of experience in education and personal development. Now based in the Bahamas, Marcus focuses on empowering parents to connect with their preteens during critical developmental stages to foster a strong sense of identity and resilience in the digital age.
Episode Highlights:
1. From Classroom to Coaching:
Marcus shares their journey from being a high school teacher to becoming a transformational coach. Learn how their international teaching experience shaped their approach to personal development and why they decided to focus on working with parents and preteens.
2. The Importance of Parental Support:
Inspired by Mister Rogers' philosophy, Marcus emphasizes the crucial role parents play in their children's development. Discover how empowering parents can transform the lives of preteens, especially during the pivotal stage of identity formation.
3. Bootstrapping the Business:
Marcus discusses the challenges and strategies of bootstrapping their coaching business. From creating content to leveraging virtual assistants and amplifying their message through podcasts, get practical tips on how to grow a business on a budget.
4. Finding Your Tribe:
One of Marcus' biggest successes is finding a community of like-minded entrepreneurs. Learn how surrounding yourself with people who share your values and goals can provide momentum and support in your entrepreneurial journey.
5. Leveraging Technology:
Explore how Marcus utilizes tools like ChatGPT and UpCoach to streamline their workflow, create compelling content, and repurpose it across different channels. Understand the importance of automation and efficiency in maintaining a consistent online presence.
6. Workshops for Parents:
Marcus introduces two upcoming workshops aimed at helping parents navigate the challenges of raising preteens in the digital age. The workshops focus on mapping family virtues and values and nurturing preteens' potential amidst technological distractions.
Key Takeaways:
Empowerment Through Education: Marcus' journey highlights the importance of continuous learning and adapting your skills to new ventures.
Community Support: Building a network of supportive peers can significantly impact your business's success and provide valuable insights and encouragement.
Utilize Technology: Leveraging tools and automation can help streamline your business processes and amplify your message effectively.
Overview
In our latest podcast episode, we had the pleasure of speaking with a former high school English language arts teacher who has a wealth of experience teaching 9th and 12th graders in diverse locations such as South Korea, Spain, Thailand, and Saudi Arabia. This episode is a treasure trove of insights into transformational coaching, the importance of parent-child communication, and the entrepreneurial journey of bootstrapping a business.
Our guest shared their journey of transitioning from the classroom to becoming a transformational coach, driven by the desire to support their aging parents in the Bahamas while continuing to help children. Inspired by the wisdom of Mister Rogers, who famously said, "If you want to help the kids, support the parents," our guest decided to focus on personal development for parents. This approach leverages the developmental stage of their preteen children to instill empowering stories of identity before the influence of social media takes hold.
One of the key takeaways from this episode is the importance of communication between parents and their children. Our guest emphasizes that the preteen years...

💬 Show Notes
About Stuart Morris
Stuart Morris is a neurodivergent serial entrepreneur, tech inventor, TEDx speaker, and the CEO of the world's leading celebrancy training business. Stuart's journey from a disruptive school kid to a successful entrepreneur is nothing short of inspiring. He has a knack for turning challenges into opportunities and has built multiple successful businesses, including a celebrancy training company that has revolutionized the way people experience weddings and funerals.
About the Episode
Join us as we delve into the fascinating world of celebrancy with Stuart Morris. Discover what it means to be a celebrant and how Stuart's company is transforming the industry by training individuals to create truly memorable ceremonies. Stuart shares his entrepreneurial journey, from his early struggles with ADHD, dyslexia, and autism to building a thriving business empire. Learn how he turned a health setback into an opportunity to start a new venture and why he believes in building businesses that serve both personal dreams and community needs.
We also explore the challenges and rewards of being a neurodivergent entrepreneur. Stuart offers invaluable insights into managing a team, the importance of hiring complementary skills, and the delicate balance of relinquishing control to foster business growth. His story is a testament to resilience, innovation, and the power of a positive attitude.
🎧 What You'll Learn:
1. **The Role of a Celebrant**: Understand the difference between a celebrant and an officiant, and how celebrancy can make ceremonies more personal and meaningful.
2. **Entrepreneurial Journey**: Follow Stuart's path from tech industry layoffs to building a successful celebrancy training business.
3. **Neurodivergent Challenges**: Gain insights into the unique challenges and strengths of neurodivergent entrepreneurs.
4. **Team Building**: Learn the importance of hiring people who complement your skills and the art of relinquishing control for business growth.
5. **Legacy and Impact**: Discover how Stuart's business is making a significant impact on people's lives through better funeral and wedding experiences.
6. **Personal Resilience**: Hear Stuart's incredible story of surviving a severe neck injury and how it shaped his outlook on life and business.
Resources
oneinamillionlife.com/frugal
Follow the Frugalpreneur:
https://www.frugal.show/

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Guest Bio
A former educator and now entrepreneur, Alisa is on a mission to help self-employed individuals and small business owners unlock substantial financial relief through the Self-Employed Tax Credit (SETC) program. You deserve to know how you can claim up to $32,220 in tax credits from 2020 and 2021.
Episode Highlights:
1. From the Classroom to the Business World:
Our guest shares their inspiring journey from the education sector to the entrepreneurial world. Frustrated by the limitations and red tape of the school system, they decided to take control of their destiny and make a difference in their community on their own terms. Starting with a successful tutoring company, they built a business from scratch and eventually sold it to explore new ventures.
2. The Airbnb Adventure:
After the success of the tutoring business, our guest ventured into the Airbnb market. This new chapter in their entrepreneurial journey provided valuable lessons in adaptability and customer service. The flexibility of managing Airbnb properties allowed them to retire early and relocate to Mexico, where they continued to pursue their passion for entrepreneurship.
3. Mastering Marketing:
With a wealth of experience under their belt, our guest found their true calling in marketing. By helping small businesses grow, they leveraged their skills and knowledge to make a significant impact. The episode delves into the nitty-gritty of bootstrapping a marketing business, from manually scraping contact lists to leveraging networking and freelance platforms like Fiverr and Upwork.
4. The Power of the Self-Employment Tax Credit:
One of the game-changing insights shared in this episode is the discovery of the self-employment tax credit. This often-overlooked funding resource can provide a much-needed financial boost for small business owners. Our guest explains how they utilized this credit to reinvest in their ventures, significantly enhancing their business's growth and capacity.
Key Takeaways:
Embrace Constraints as Opportunities: Our guest's journey exemplifies how constraints can be turned into stepping stones for success. By embracing challenges and thinking creatively, they were able to build multiple successful businesses.
The Importance of Networking: From attending events to leveraging freelance platforms, networking played a crucial role in their entrepreneurial journey. Building a solid network opened doors to new opportunities and long-lasting client relationships.
Utilize Available Resources: The self-employment tax credit is a valuable resource that many entrepreneurs overlook. Understanding and leveraging such resources can provide a significant financial boost and help reinvest in your business.
Resources
mygovrefunds.com
Follow the Frugalpreneur:
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💡 Summary: Our guest, a seasoned entrepreneur with 20+ years of self-employment, shares invaluable lessons on financial planning and asset management, particularly for women business owners. Discover how they used personal savings and a home equity loan to get started!
💬 Key Takeaway: Minimizing overhead and avoiding unnecessary debt are crucial strategies for any startup. Learn how our guest kept costs low and maximized efficiency, leading to a successful bootstrap business.
🚀 Chapter Highlights:
- Overcoming challenges of using personal savings & home equity loans
- The importance of credible mentorship
- The pitfalls of ineffective DIY training programs
- Strategies for frugal spending & financial planning
🏠 Bootstrapping Tips:
- Keep overhead low: Work from home, avoid unnecessary expenses
- Avoid debt: Personal savings > loans to reduce stress
- Bartering: Trade skills/services to keep costs down
💼 Lessons Learned:
- Mistakes: Investing too much in ineffective DIY training programs
- Successes: Low overhead, strategic spending, and reinvesting profits back into the business
📈 Expert Advice: Build up cash reserves before starting a business. Think like a squirrel with your money! And always be discerning about where you invest your funds.
🤝 Mentorship Matters: Finding a credible mentor or coach early on can shorten your learning curve and significantly impact your business’s success. Do your homework and ensure they have good testimonials!
🌟 Free Resources: Visit wealthcoachforwomen.com/pod for a package of tools to help in your business journey. Plus, schedule a free 30-minute consultation for personalized advice!
🎧 Listen Now: Tune into this episode packed with practical advice, real-world experiences, and actionable insights to help you grow your own bootstrap business. Don’t miss it! #Entrepreneurship #BusinessTips #Frugalpreneur
Highlight Timestamps
(00:35 - 01:29) Entrepreneur's Journey to Financial Planning
(05:18 - 05:50) The Importance of Business Mentors
Follow the Frugalpreneur:
https://www.frugal.show/

Sponsor Frugalpreneur:
https://www.frugal.show/p/sponsor-the-show/

Leave a Message for the Show
https://podinbox.com/frugalpreneur

Grab Your Free E-Books:
https://www.ampmypod.com/freebook

Join the Free Community:
https://www.skool.com/ampmypod

Get Your Podcast Audited:
https://www.ampmypod.com/audit

About Justin HanoverFrom launching my own gym business at the age of 19 to scaling it into a thriving 6,000 square foot facility with over 300 active members and an accomplished team of 8 members, my journey in the fitness industry has been one of relentless growth and innovation.
Driven by a commitment to excellence, I've honed my skills not only in gym management but also in business coaching and marketing strategy. My podcast on business coaching soared to the top 3% globally, providing invaluable insights to aspiring entrepreneurs and established business owners alike.
With a background in outbound marketing, I've specialized in building and coaching teams to implement highly effective outbound systems, particularly on LinkedIn and email platforms. My expertise lies in harnessing the power of these channels to drive client acquisition, engagement, and revenue growth.
Currently, I'm privileged to lead client success and business development efforts at Fitness Revolution, a leading coaching and consulting agency dedicated to empowering fitness business owners to achieve their fullest potential. Through strategic guidance, tailored coaching, and innovative solutions, we're revolutionizing the fitness industry one business at a time
About the Episode
What if you could transform your passion into a thriving business by the age of 19? Join us as we sit down with Justin Hanover, an entrepreneur who successfully navigated his way from a mobile personal training service to owning his own gym. Justin shares his inspiring story of perseverance and strategic thinking. We unpack key outbound marketing strategies like social media, email, cold calling, and direct mailing that played a crucial role in his journey to success.
But that's not all! We uncover the art of personalized marketing and building genuine relationships that don’t come off as overly salesy. Learn from real-life examples, including an SEO client who uses curiosity-driven questions to engage potential customers. We stress the balance between consistency and volume in outreach efforts, and how businesses with a relatable human front can make a significant impact. Discover the realities of social media reach and the strategic use of paid promotions to effectively engage your target market.
Lastly, we dive into the challenges of marketing on social platforms and the importance of driving traffic to your own website. With social media ads becoming increasingly inefficient and expensive, we explore creative strategies to capture attention and engage potential customers. Drawing inspiration from marketing legends like PT Barnum, we emphasize the need to grab attention before winning over customers. Whether you’re in the fitness industry or another field, this episode is packed with actionable insights and resources to help you grow your business. Connect with Justin Hanover for more in-depth discussions and personal engagement tips.
🎧 What You'll Learn:
1. **Mindset and Perseverance**: Discover the mindset shifts and perseverance that propelled Justin forward in his journey.
2. **Outbound Marketing Strategies**: Learn how to effectively use social media, email, cold calling, and direct mailing to build brand awareness and attract new clients.
3. **Personalized Marketing**: Understand the importance of building genuine connections without being overly salesy.
4. **Challenges and Solutions**: Navigate the complexities of marketing on social platforms and the importance of driving traffic to your own website.
5. **Creative Approaches**: Draw inspiration from marketing legends like PT Barnum and learn creative tactics to capture attention and win over customers.
6. **Trends and Resources**: Stay ahead of the curve with the latest marketing trends in the fitness industry, featuring valuable resources and tips from Fitness...