Exitology: Unlock Your Profits, Unlock Your Potential

In this episode of Exitology: Unlock Your Profits, Unlock Your Potential , host Jason "Wally" Waldron continues his conversation with Josh Fyhrie, a seasoned insurance agency owner, diving deeper into his journey of scaling, selling, and rediscovering purpose. From managing seven figures of debt to partnering with a larger agency, Josh shares the highs, lows, and lessons learned during this transf...

In this episode of Exitology: Unlock Your Profits, Unlock Your Potential , host Jason "Wally" Waldron sits down with Josh Fyhrie, a seasoned insurance agency owner, to uncover the pivotal moments of his career and his journey toward scaling success. Starting with Farmers Insurance, Josh shares how he transitioned to founding his own independent agency, navigating challenges and breaking free from...

“The only thing right about all projections is that they are all wrong.” - The Economist Financial institutions practice what they preach. Financial institutions have become expert marketers. The goal of all financial institutions is to get our money.  They want us to send them our money and they want to have control and use. People have bought into the idea that somebody is going to take care of...

“No one cares about your money more than you do.” Stock ownership = a company has no legal obligation to pay you. Prior to Apple or Microsoft, it was common for stocks to pay dividends.  However, instead of paying a dividend, these companies put it back into the company.   “If you ever want to acquire the fortune that you seek, the first thing you have to do is acquire the knowledge that is requir...

“Principles are what guide us if you want to say it’s your conscience.” Principles make life easier.  A principle is something that doesn’t change.  It’s something that always points in a certain direction.   “The most important thing he learned was to live his life based on principles that teaches him what is true and what to do about it.” - Ray Dalio, author of Principles: Life and Work. Look up...

“Money isn’t math, math isn’t money.”  Traditional planning has not created financial freedom for people. It has led to financial dependence.   What's a different approach that people can take that helps them become financially free? If we don’t have principles as the foundation for our decisions that we make in our life we are more subject to marketing, hype, and following the herd. Decisions are...

“I had to understand and document what I was doing in order to train other people on how to do it.” Document processes and procedures using Google docs, Loom video - written instruction and video.  Break up processes and procedures into individual steps. If you are given a detailed process and you're unable to follow it, either the process is broken or you're not following it. Take a vacation whil...

The average person in America gets about 13,000 messages thrown into their brain every single day. Fundamentals for deliverability. Learn about Email Service Provider (ESP) authentication for communications to go to inboxes. If you are sending from a new domain, send a small number of emails and scale up.   If you are rebranding or changing domain names or changing ESP or IP, be cautious as you sc...

“For every dollar spent on email, you can usually expect at least four dollars in return.” Explore the components of an effective email campaign. It is important to evaluate your market (B2C or B2B) and price point of offer. Number one - everyone loves a sale. Number two - what are your buyers most likely to buy? Listen to some of the psychological triggers for internal promotions, selling and opt...

“I’ve always been entrepreneurial, always wanted to do my own thing but I still had to make money so I had jobs. Through mentorship, he was taught about selling through the written word. He learned the skill of copywriting and selling in print. Took a pay cut to invest in his future. If you want measurable real marketing that puts money in your pocket, it is salesmanship and print. Began writing t...

“What are you going to do for the next hour to change your life is one of the greatest questions I ever got.” “I had a lot to lose and I just encourage people to have objective reality now so that your back doesn’t have to get against the wall. I hired a coach and he had results in his life that I wanted.” “What are you going to do for the next hour to change your life is one of the greatest quest...

“If you like your results, you can tune me out.” The number one characteristic of self made entrepreneurs is objective reality (staying out of delusion).  Maybe it’s not even in your business but you have delusions in your relationships. Set a unifying goal to address delusions.  If there is turmoil at home, it will bleed into your business and vice versa.  Everything you want in life, you're hopi...

“A life spent seeking comfort results in an entirely uncomfortable existence.” - Chris Felton The number one concept for a high performer world class thinker is called objective reality. Hear examples of objective reality - the ability to own your results without getting emotional. “Ego is not your amigo.” 96% of Americans are broke. Margaret Lynch, author of Tapping into Wealth, says the biggest...

“Optimism and delusion sleep in the same bed together.” - Chris Felton “I was getting a lot of trophies and awards and was speaking a lot but what people didn’t know behind the scenes was I was broke.” He looked successful, he knew how to say the right things but behind the scenes was kind of a mess which he hid from his wife.  Enlightening moment and single best financial decision he made was to...

Started out of college, hired employees, got a bigger office, woke up after 10 years and asked the question - do I want to do this for the next 10 years? Being young and at the beginning of our careers, we wanted to explore different things. Our guiding piece was we wanted to make sure our clients had a home and employees had a job.   Hire a broker. Competitors may some day make you an offer. If a...

“We have to speak in a language based on stories and create a common one that we can connect with each other.” Explore the 5 Design Principles: Benefit, Focus, Salient, Empathetic & Minimal Many businesses know their stuff, know the language around it.  They know why they care about it but they have a hard time translating it outside of their walls. If you can communicate to the marketplace, t...

“People don't want a quarter inch drill.  They want a quarter inch hole.” - Theodore Levitt Make sure that there is as little friction as possible between what you are trying to say and what the receiver wants to hear. Understand the motivators of what people care about and be more effective in sales, marketing and communication. Ask So What? - find the functional, emotional, physiological benefit...

“Communication is the fundamental act of being a human” Explore the reasons for breakdowns in communication. When we are the receiver, we want communication. We want fluency in our messaging as a receiver. Every time something is easy, something is fluent. If something is not fluent, it takes a lot of mental processing power to make sense of it. What is additive bias in our own head? Lead with sim...

Turn a constraint into an accelerator and become unstoppable. How do you become the business who could put your business out of business and scale profits in your company by becoming the disruption in your industry? Make a list of your constraints and look at how you can flip constraints for competitive advantage. Explore the Find Time Now processes. Take 100% responsibility for your actions in cr...

“Conformity is the jailer of freedom, and the enemy of growth.” - John F. Kennedy The client does not actually care about quality, they want their problem solved. All of your competition are dealing with the same constraints and same challenges as you. Find a way to innovate and stand out. Name of the game is to build transferable value in your business. If you are valuable in the marketplace, you...

“When you create within constraints, it creates a massively better design.” The foundation to profitably scale services is that you have to have a really good offer. Everyone wants to be the top 1% of the market because you get the highest fees.   Understand the reasons why most people are not willing to do what it takes to become the top 1%. Cast a bigger vision Wealth is created by solving bigge...

Irresistible offers attract clients that pay 50 to 600% higher fees in days or less. Early stages required the CEO to be very involved driving everything forward.  Clients need to show up in a specific way for business owners to create quantum level growth. At any given moment, we have the choice for how we are showing up.  What most CEOs don’t understand is that we are choosing how we show up in...

Are you exit curious? Triggering event - if one day you want the option to sell your business, what are all the things that somebody would look at that’s part of the equation. It’s a reality check to determine what your business is actually worth. Business insights then provide your value potential (trigger). Gamerification - taking the current value of your business and exit now or accepting the...

“I don’t need the money or I don’t need all the money.  I’m happy to share it.” 20 years ago, a business owner needed to sell a business to fund retirement. Most baby boomers around the world are independently wealthy and don’t need to sell anything to fund their retirement. Business owners that have had their businesses for 25, 30, 35, 40 years have an emotional connection to their business. Lega...

“Begin with the end in mind and start with what you want to actually achieve.” An exit plan is structured and process driven. First - identify value in your business.  Second - fact find to determine what the business owner wants to achieve. Third - use business insights to determine the business owner’s starting point. Business insights get facts and figures together and can be a confronting conv...