Welcome to The Mad Profit Podcast where we interview active investors, entrepreneurs, and experts who left corporate jobs to buy or start successful ventures and live life on their own terms.
Listen to their stories, learn from their experiences and heed their advice so you too can create Mad Profits and the life you’ve always wanted.
We launch a new episode each week and can be found at https://madxcapital.com/TheMadProfitPodcast
Why Internet Businesses Should Consider Barter Networks to Sell Their Products & Services with Mike Grantis
Interview with Mike Grantis, Sr. Director Business Development at Barterpay.ca
In Episode 13 of the Mad Profit Podcast, we interview Mike Grantis who is the Senior Director of Business Development at Barterpay.ca. He explains the opportunity of leveraging the oldest form of trade to help businesses improve profitability in today's marketplace.
Mike provides some great examples of businesses that have succeeded in offloading their stock or using excess capacity. Businesses of all sizes can leverage this community to help improve their bottom line
Laurent : Hey everybody Laurent Truc here from the mad profit podcast welcome back today we have a special guest Mike Grantis from barterpay.ca this is a bit of a different interview than what I've done in the past barter payday ca is a very interesting new community that's being created and it's been around now for a couple of years that allows members to barter with other members and I see a very unique opportunity for even internet businesses to be able to put excess product or even use up excess capacity if they have a service business and I think it's a really interesting way to continue to sell and even diversify your sales. Mike is a terrific guy and it was a great interview so dive in and hopefully you'll find value in it thank you. Intro : welcome to the mad profit podcast where we interview active investors entrepreneurs and experts who left corporate jobs to buy or start successful ventures and live life on their own terms listen to their stories learn from their experiences and heed their advice so you too can create mad profits and the life you've always wanted and now here's your host Laurent Truc.Laurent: welcome back everyone today we got a special guest with us his name is Mike Grantis from barterpay.ca mike welcome to the show how are you.Mike: thanks so much appreciate you having me yeah, I'm greatLaurent: I'm glad you're on you're a bit of a different guest than I've had in the past focused on more of the online business type entrepreneurs and you're obviously your business is that but I think you provide services for many types of business so it'll be really interesting to kind of dive in and get the lowdown of how you help everybody so of course can you give a little bit of background about yourself.Mike : sure so my name is Mike Grantis I’m the senior director for business development with Barterpay Toronto community and essentially what barter pay is we're Canada’s largest and fastest growing organized barter exchange so what that means is we help business owners to pay for things that they need or accumulate the things that they need using their own idle time capacity and services as payment instead of cash right so it's a way for business owners to conserve some of their cash get the things that they need increase their profit margins and grow their business. And the reason I say organized barter is because it's very different than traditional barter right traditional barter is the oldest form of commerce and it's how business was invented but it's got some big flaws and one of those is what we call the coincidence of wants and so what that is when you need to find somebody that has what you need needs what you have at the same time and at the same value and you know that doesn't happen very often in business especially with the complexities of kind of modern markets and so what we did with Barterpay is we created this ecosystem where you ...
MPP012 – How Businesses Should Assess Their Current and Future Technology Needs with Ashu Avasthi
Interview with Ashu Avasthi, Leader of Digital Transformation at Grant Thorton LLP
In Episode 12 of the Mad Profit Podcast, we interview Ashu Avasthi who leads Grant Thorton's Digital Transformation practice. He walks us through what small and medium size businesses should consider when reviewing their current and future technology needs.
Ashu has decades of experience helping businesses drive significant growth through sales and technology and his core message is "do research and have a plan" when it comes to developing a technology path for your company.
INTRO: Welcome to the Mad Profit Podcast, where we interview active investors, entrepreneurs and experts, who left corporate jobs to buy or start successful ventures and live life on their own terms. Listen to their stories learn from their experiences and heed their advice so you too can create mad profits and the life you've always wanted and now here's your host Laurent Truc. LAURENT TRUC: Hello everybody and welcome back to the mad profit podcast my name is Laurent Truc and today I've got a special guest that I've known for a very long time. I've actually been hounding him to get on my podcast because he spent a lot of time with a lot of technology companies out there and today we want to talk about technology and kind of Pickers brain, so please help me welcome Ashu Avasti, the head of digital transformation at Grant Thornton.Ashu welcome on board, how are you? ASHU AVASTHI: Thankful that it's great to be here looking forward to the conversation. LAURENT TRUC: Appreciate you making the time and yeah sorry I handed you, but am glad you are here anyhow. So, Ashu I wanted you here, because you've had a pretty long career in technology and in sales you've helped a lot of businesses grow, some were very small businesses in their very early years, to large corporation. LAURENT TRUC: So, you've seen kind of that growth that a company goes through from a technology perspective and obviously in your role today, you're seeing more of that and I think you can provide a lot of advice to our listenership. So, I'm glad to have you here I think it'll be great. ASHU AVASTHI: Now looking forward to it for sure. LAURENT TRUC: So why don't we get started can you tell us a little bit about your background and how you got to where you are today? ASHU AVASTHI: Sure I'll keep it brief, but you know my background has always been in technology by you know kind of by training by schooling computer science and engineering background, although I never really wanted to be a hard core engineer, but I certainly loved the puzzle pieces of Technology and as a result throughout my career I've held various types of roles, whether it's been product development, whether it's been in sales leadership, whether it's been in operations, they've always been either in technology companies or in and around technology. And when I say technology, it's everything from networks to software as a service to delivering on ecom platforms, building out ecommerce companies. I've got a couple of stints doing that, consulting, helping grow sales teams, grow markets, all those types of things, you know in there some of them would I say probably, big stints were at you know Bell Canada Donna Bradstreet at LinkedIn, now here at Grant Thornton as part of our digital practice where we have a lot of fun and spend a lot of our days is working with small, to medium, to growing sized businesses, helping them figure out how to leverage technology to grow their business and that can be across any kind of segments, whether that's manufacturing, whether that is ecommerce, whether that is retail, we really learn, know, have the team and experience to help clients with that. So,
MPP011 – Investing in Content Sites with Dom Wells
Interview with Dom Wells, founder of Onfolio
In this episode of the Mad Profit Podcast, we speak to Dom Wells, founder of Onfolio.
Dom became a self-taught expert at SEO and content site management over years of trial and error and then started (and sold) Human Proof Design, a company that builds profitable content sites. His latest venture, Onfolio, manages content sites for investors around the world.
In episode 11, we speak to Dom about his journey and he helps us understand what to look for when buying a content site, some industry trends and how to be successful in the space.
INTRO: Welcome to the Mad Profit Podcast, where we interview active investors, entrepreneurs and experts, who left corporate jobs to buy or start successful ventures and live life on their own terms. Listen to their stories learn from their experiences and heed their advice, so you too can create mad profits and the life you've always wanted. And now here's your host Laurent Truc. LAURENT TRUC: Welcome to the mad profit podcast. This is Laurent truc your host and today I have a very special guest with me Dom wells from Onfolio. Dom how are you today? DOM WELLS: Yeah, I'm good thanks. LAURENT TRUC: Excellent! I've been very much looking forward to having this session. You and I are on a deal together, you've been in the internet space for a very long time. A lot of our listeners are either corporate people or people that are getting into the internet space, so really interested in your knowledge and some of the experiences that you've had. So very much looking forward to having this conversation, maybe you can start with a liberty background, love to hear where you started from and kind of how you got to where you are today. If you don't mind giving us some background. DOM WELLS: Yeah sure it's a seven-year story. so you know I just do the abridged version but, I first got into the space in 2012. I wanted to make some more money and I was living in Taiwan. So my options in Taiwan were basically teach English, which was a decent job, I had been doing that for four years already, but it has a load ceiling like you know you can make a comfortable salary but, there's no real way to go higher and without being fluent in Mandarin or having very specific qualifications there are many other options for you. So online was kind of the only option for me and so I found affiliate marketing, just through various just trial and error and lots of research. So, I just started building sites, learning what I could and just learning how to rank websites in Google, how to get traffic to them, how to then monetize that traffic and yeah like it took me a while, I think after a year and a half, I was just about making a thousand dollars a month online. Yeah, I mean it's weird, because at the time obviously a year and a half I thought this is taking forever. I'm never actually gonna be able to do it but, when I look back I think a year and a half was quite short. So, I guess perspective is very important. Then I did start getting a bit of success and right around the end of my second year or maybe a little bit earlier I started a company called human proof designs, and the opportunity I had seen was that, I noticed people were buying websites off flipper, which I don't know if you've covered on the marketplace with flippers, sorry on the podcast, but flipped as a marketplace for buying and selling websites. I guess it's a bit like eBay, but for websites. And I noticed that people were buying a lot of junk websites, like websites where they were basically these turnkey cookie cutter websites and the seller was just kind of saying; hey! you buy this website $500,
MPP010 – Business Acquisition Advice from a Corporate Commercial Lawyer
Interview with Louie Sopov of Prouse, Dash & Crouch LLP
Episode 10 of the Mad Profit Podcast we speak with Louie Sopov, a corporate commercial lawyer with over 15 years experience of M&A and commercial business helps explain to us what to expect when purchasing a business.
His provides great insight on topics such as cross border jurisdiction, due diligence, contract structure and finding the right legal partner when buying or starting a business.
INTRO: Welcome to the Mad Profit Podcast, where we interview active investors, entrepreneurs and experts, who left corporate jobs to buy or start successful ventures and live life on their own terms. Listen to their stories, learn from their experiences and heed their advice, so you too can create mad profits and the life you've always wanted and now here's your Host Laurent true. LAURENT TRUC: Welcome back this is Laurent true from the mad profit podcast. Thank you for joining everybody today we have a very special guest with us. I've been getting a lot of questions lately from entrepreneurs about how do I start a company? What should the corporate structure look like? So today we're doing something a little bit different. Instead of having an entrepreneur, we decided to have a corporate commercial lawyer on with us. So, Louie thank you very much for joining, welcome to the mad profit podcast. LOUIE SOPOV: Thank you so much Laurent, it's a real pleasure to be with you today. LAURENT TRUC: Well, thanks for taking the time. So, Louie I don't want to put words in your mouth, so I think the easiest thing to do is to have you tell us a little bit about yourself and what you do. So, if you don't mind can you give us a bit of history. LOUIE SOPOV: Absolutely! I've been practicing law for the last 20 years, the last 15 of those 20 have been exclusively in the corporate commercial area. I'm with a small to mid-size firm out here in Brampton and a lot of our business is small to mid-size, ranging in types of industry. We do a large gamut of things, everything from mergers acquisitions to corporate structuring, tax planning, commercial leasing. If you will sort of the jack-of-all-trades within a particular expertise, but that's the core of what I do and what I've been doing for the last 15 years. Excellence! This is gonna be good, then a lot of knowledge. LAURENT TRUC: Perfect! So, a lot of what I've been doing is talking to people about acquiring businesses as much as starting businesses from scratch. You've done a lot of M&A and business acquisition. Just to kind of start us off, can you walk us through the general steps that somebody would take? So, if they find a business that they like and they want to go through an acquisition process, I assume it's different whether it's a small business versus a larger one, but are there kind of always the same general steps? Like what does that process look like? LOUIE SOPOV: As a general rule the only difference between small, large transactions, the number of zeros attached to the price tag. Okay generally speaking what we're always worried about and everybody's heard this phrase before "Caveat Emptor" its "Buyer Beware". So effectively where you would normally go out and buy a vehicle and it comes with a warranty and guarantee package about a foot thick and if something goes boom someone magically fixes it. What the average buyer is going to be concerned about is what they don't know. I think the biggest problem for most entrepreneurs when they're thinking about starting a new business is they have an idea of where their expertise area is, so they focus in on an industry and then they try to look at the surface issues which is part of it,
MPP009 – What To Look For When Buying a Business And How To Create Value
Interview with Sam Leslie of Dealmakers Institute
In Episode 9 of the Mad Profit Podcast, Sam Leslie from Dealmakers Institute walks us through his journey of starting a couple of service businesses to then investing in online assets to now his new focus of brick and mortar.
Sam explains what he looks for when acquiring a business and how he creates immediate value by putting assets together and gaining a larger multiple.
Intro: Welcome to The Mad Profit Podcast, where we interview active investors, entrepreneurs and experts, who left corporate jobs to buy or start successful ventures and live life on their own terms. Listen to their stories, learn from their experiences and heed their advice, so you too can create mad profits and the life you've always wanted. And now here's your Host, Laurent Truc. Laurent: Welcome back everybody, to the mad prophet podcast, I'm excited today we've got a guest, a special guest, His name is Sam, and he is a self-proclaimed business acquisition investor. I love that title resonates really well with me, So Sam welcome to the show. Sam: Thanks, man really great to be here. Laurent: Thanks for taking the time. I've been looking forward to this interview. Oh! you know that I've been hounding you all together, obviously we're in the same space and we just share a lot of common thoughts and views, on investing in business investing. So, looking forward to spending some time, understand you a little bit better and sharing some of your wisdom with the listeners today. Sam: Great! Laurent: okay so maybe we can start with you, can you tell us a little bit about yourself and how you got here? Sam: So, let's go all the way back, twelve years old, running a landscaping lawn maintenance company, knew I always wanted to own businesses, just that, I don't know why I just knew I wanted to own multiple businesses, and of course wealth came along with that, but I knew I wanted to own multiple businesses. So, my dad liked to sit down and kind of help me plan that out, and I said well I want to sell my landscaping company for a million bucks. Well, about 15 years later, I was still running it, and didn't sell it for a million bucks, but did sell it; and bounced around for a little while just trying to find something else, and I ended up taking a job with a pest control company, and I got sick all the time, because of the pest control products. I would shake and I was nauseated, and it was... I started looking it up online and I was like I think this might be, I might be getting a little bit of the poison on me or in my system. And so, I had three kids at that time and was coming home with that stuff on me and realized that there had to be a change. So, I took about two grand and started a company called organic pest solutions which still runs in Greenville South Carolina. It has been about nine years now and we used natural and naturally derived chemicals. So, this is in my blood man, it's in my blood. So, fast-forward to 2015 my dad runs organic pest solutions and then I invest in other businesses. So 2015 I found a Chapman we're both friends with him, partners with him or have been partners with him and many deals and fantastic guy, and I found him in 2015 and joined his course and learned how to buy businesses, because I knew, I knew that I had to have somebody teach me. It was… there's just really not much out there on how do you buy online companies? How do you buy offline companies? I had sold my business and looking back on it now, like it was a very creative deal and I didn't really realize that and it worked out really well, but each kind of took me down the path and so within six months, six to eight months,
MPP008 – The power of tribes with Bruce Simpson
Interview with Bruce Simpson founding partner at SwitchGear Consulting
In Episode 8 of the Mad Profit Podcast, I sit with Bruce Simpson, founding partner at SwitchGear Consulting (http://switchgear.ca/) which helps organizations implement strategic change to make them world class.
Bruce shares the importance of Tribes for an entrepreneur's success. Having been a part of Virtacore (https://www.virtacore.ca/) for decades, he speaks from first-hand experience on the value these networks provide to organization, and members.
Intro: Welcome to the Mad Profit podcast, where we interview active investors, entrepreneurs and experts who left corporate jobs to buy or start successful ventures and live life on their own terms. Listen to their stories, learn from their experiences and heed their advice. So, you too can create mad profits and the life you've always wanted and now here's your host Laurent Truc everybody and welcome back. Laurent: This is Laurent true from the mad profit podcast and I am excited to have a special guest today with us Bruce Simpson, founder of switchgear consulting. Bruce how are you today? Bruce: I am fantastic. How are you? Laurent: Good thank you so much for making the time and joining us. I'm looking forward to this, you've spent a lot of time working with entrepreneurs and networking and all that. So I really want to learn a lot from you and pick your brain and see what comes from this conversation. Bruce: I humbly hope I can offer some value in the dialogue. Laurent: Ha-ha, I'm sure you will, great! So, Bruce can you give us a little bit of background about yourself, where you come from, what got you here... Bruce: mm-hmm well without revealing my full age, I have an honours degree in biology, which naturally leads to large-scale change and entrepreneurial adventures. I think what I would fast-forward to... when I was at Bell Canada, was probably my big ... and I ended up being part of the breakdown of long distance competition and I had joined the first wind back group at Bell Canada and you know going to customers to convince them the error of their ways and come back. We missed you and love you was by itself a big change initiative to get change to happen. I fell into some really great opportunities that nobody else wanted. Sometimes when they're dressed in overalls they scare people off and so one of them was the build out of Bell Canada's response to talking to customers that we hadn't talked to before. Laurent: Okay Bruce: So we ended up building a whole bunch of call centers and we proactively wanted to talk to customers and in many ways that was new for us and in doing so one of the projects I ended up was analyzing the third-party call center market okay and I ended up getting a gift because I was paid to really try and understand how Bell Canada might actually play in a space or how we might outsource and partner with other companies to help some of our call centers at that time, now customer contact. And so you know myself and one other fellow ended up doing a detailed analysis and we ended up putting together a business plan to be not only we would answer the 800 number with a human being, we would we would be Bell Canada's customer contact and they laughed at us because they were more focused on their core revenues that they were losing and they didn't want to go into business with their customers, and so myself and another individual entrepreneur threw caution to the wind and borrowed seven and half-million dollars and started a company that became Citel international and client logic, and is now the second largest third-party outsourcing company in the world.