TMBA530: Don’t Be a Victim of Your Own Success

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Entrepreneurship is something of a gamble, and perhaps very few people understand that better than today’s guest.

Mike Jackness is a widely respected figure among the eCommerce community and is the host of a brilliant podcast called eComCrew.

Mike has owned and exited several successful businesses, the most popular of which being ColorIt, which manufactured and sold coloring books aimed at adults.

On today’s podcast, Mike joins us to talk about the highs and lows of his entrepreneurial career.

You’ll hear how an obsession with poker turned into Mike’s first major foray into entrepreneurship, how he founded and eventually sold ColorIt, and some of the biggest pitfalls that entrepreneurs face in the eCommerce space today.

Transcript

 

Listen to this week’s show and learn:

  • How Mike got the idea for his first business by playing a game of poker online. (7:07)
  • What ultimately drove Mike away from the poker industry. (19:30)
  • Why Mike developed severe anxiety as his eCommerce business grew. (36:29)
  • How entrepreneurship can sometimes be like a disease. (50:00)
  • Mike’s thoughts on the eCommerce landscape in 2020. (55:18)

 

Mentioned in the episode:

 

 

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Grab your free copy of our book!

In the entrepreneurial world, it’s rarely questioned that “exiting” is the end goal of a smartly built business and a prestigious waypoint in a successful career.

In 2015, Dan Andrews and Ian Schoen sold their business for multi-seven figures, and although they don’t regret selling – there are many mistakes they made that were avoidable.

The book presents thought experiments designed to help you avoid similar mistakes.

Whether you are in the early stages of building a business or thinking of selling, this book is designed to help you build with the future in mind.

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Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST. Cheers, Dan & Ian