đź’ˇ Guest bio
Chad has been in the investment business for 16 years, initially thinking he would be managing investments, only to realize it's more about managing investors. He is passionate about helping people become better investors, which requires behavior change, coaching, and relationships. Coming from a household with a financial advisor, Chad saw firsthand how changing someone's finances can also change the trajectory of their entire life.
ℹ️ Introduction
On this episode of Frugalpreneur, we dive into the journey of Chad, a bootstrapped entrepreneur who has navigated the world of managing investments and investors for the past 16 years. Chad shares his insights on the importance of behavior change, coaching, and relationships in helping individuals become better investors. He also discusses his experience with living frugally, taking small risks, and patiently waiting for the right clients in order to grow and thrive. Chad reflects on his biggest failure as an entrepreneur and offers valuable advice on identifying ideal clients and taking meaningful action towards business goals. Tune in to hear Chad's inspirational story and actionable tips for your own bootstrap business journey.
đź“š Timestamped overview
00:00 Dad's impact inspired meaningful financial career success.
04:51 Overcoming fear of rejection is key. Focus on target audience in marketing efforts.
07:15 Be clear on your audience and actions.
❇️ Key topics and bullets
Primary Topic: Introduction to the Podcast Episode
- Host introduces the episode as a showcase featuring a bootstrapped entrepreneur
- Purpose of the showcase episode is to provide valuable takeaways for listeners in their own business journey
Primary Topic: Chad's Entrepreneurial Journey
- Chad's original intention was to manage investments but learned that the role involved managing investors and coaching for behavior change
- Saw the impactful work of his father, a financial advisor, in changing people's lives through financial management
- Currently works with firms like Dave Ramsey to apply financial principles and guide people towards meaningful change and growth
Primary Topic: Bootstrapping Strategies
- Started the business with no debt, few resources, and minimal liabilities
- Acted as the "chief everything officer," taking on all roles and responsibilities
- Took small, intentional risks and made small investments initially, as advised in "Good to Great" by Jim Collins
- Patiently waited for the right clients, living frugally on both personal and business levels
- Survived difficult periods due to intentional budgeting and lack of debt
Primary Topic: Overcoming Failure and Fear
- Chad's biggest failure was the fear of facing rejection and waiting for the concept of "perfect" before putting himself and his services out there
- Realized the power of offering himself and his services directly to potential clients rather than relying solely on advertising and marketing
- Overcoming the fear of rejection became pivotal to his success
Primary Topic: Tips, Tricks, and Tactics
- Importance of knowing the ideal client and customer, rather than spreading effort and energy everywhere
- Emphasized the power of getting crystal clear about who you're trying to serve and creating marketing tailored to a specific, ideal client
- Recognized the tendency of entrepreneurs to create busy work that looks important but is actually procrastination, and the need to focus on high-impact actions instead
Primary Topic: Conclusion and Gratitude
- Chad expresses gratitude to the host for the opportunity to share his experiences and hopes it was valuable and encouraging for the audience
âť“ Questions
1. How did Chad's initial perception of his career in managing investments change over time?
2. What role did Chad's father's career as a financial advisor play in inspiring Chad's own career path?
3. In what ways did Chad bootstrap his business, and how did it impact the trajectory of his
