#877: Join Michael Bosstick as he breaks down the raw truth about building, scaling & sustaining a business. With over 20+ years of experience – from co-founding companies, serving as Founder & CEO of Dear Media, investing in high-growth startups, to navigating the early days of entrepreneurship – Michael has seen & experienced it all. In this episode, Michael shares the real lessons learned from both wins & failures, dives into the most common mistakes entrepreneurs make, the importance of a clear long-term vision, choosing the right business partners, maintaining financial discipline, & how to effectively run a company while cultivating a thriving company culture.
CHAPTERS
[00:00] Michael’s Entrepreneurial Journey
[01:55] Common Pitfalls for New Entrepreneurs
[02:53] The Reality of Self-Employment
[09:27] Starting with the End in Mind
[13:55] Choosing the Right Business Partner
[18:43] Launch Fast and Adjust
[26:10] The Importance of Execution
[27:03] The Journey of Improvement
[28:51] Building a Team: Company vs. Solopreneur
[29:57] Hire Fast, Fire Faster, Promote Fastest
[35:00] Financial Discipline: Cash Flow and Salary
[47:26] The Importance of Company Culture
[54:15] Final Thoughts and Reflections
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Lauryn & Michael