Hiring a COO will Give Your Company Exponential Growth - Andrew McIntosh

Dreamcatchers Hosted by Jerome Myers

Have you ever imagined trading a luxury car for an old beater in pursuit of your dreams? Dive into Andrew McIntosh's raw and riveting tale of sacrifices, stumbles, and success as he transitions from employee to thriving entrepreneur!

In this episode, Andrew McIntosh shares his journey from an employee to an entrepreneur. He shares his experience of cutting back on expenses to focus on his side hustle and taking one step forward and two steps back to achieve success. Andrew also discusses his mistakes when hiring his first employee, how a surprise tax bill blindsided him, and the importance of investing in experts for essential business operations. Finally, Andrew will share his insights on the exit paradox, financial freedom versus true fulfillment, and helping other first-generation entrepreneurs succeed.

Tune in to learn about Andrew McIntosh's journey from employee to entrepreneur!

[00:00 - 15:50] From Blue Collar Midwest to Entrepreneurial Success

• Andrew McIntosh shares his story of how he exited
• His exit plan was to learn the ropes of the business he was working for and then start moonlighting on the side
• Social media romanticizes entrepreneurship, but it's not that for most people in the beginning
• Spent frivolously on things you love but cut mercilessly on things you don't

[15:51 - 28:26] A First-Generation Entrepreneur's Story of Mistakes, Tax Surprises, and Learning Along the Way

• Entrepreneurship is not for everyone and requires a certain level of emotional and mental strength
• Making the first hire can be a costly mistake if you are ill-equipped for it
• Bartering services can lead to doing as little as possible for each other
• Surprise tax bills can be deflating and require taking steps backward in the business
• Don't try to save money by doing things yourself if you don't know what you're doing - it can cost more in the long run
• Businesses can be broken down into two parts: sales and service delivery

[28:27 - 46:25] From Self-Employed Technician to Business Owner

• Self-employed technicians and business owners have different skill sets
• Andrew talks about how to navigate the exit paradox and the six centers of doubt
• Chasing financial freedom versus fulfillment

[46:26 - 55:33] Closing Segment

• Connect with Andrew through the links below!

Quotes:

"No one person can do both things at the same time. Maybe you're good at doing both, but there's an inherent cap on how far you can go. You've only got so much time in the day, even if you're the biggest rock star in the world." - Andrew McIntosh

" Some people cannot handle the roller coaster that is entrepreneurship. Some people are getting ill, and they're just counting the seconds until they can get off of this ride. And then meanwhile, the guy sitting right next to him is just screaming and having the time of his life." - Andrew McIntosh

Connect with Andrew!

1st Gen Entrepreneurs - www.1stGen.biz

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