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Entrepreneurs on Fire with John Lee Dumas

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Bring Your Vustomer Service to the Next Level with Bill Colleran

Bill Colleran is the CEO of AnswerDash, a Seattle-based SaaS start-up company that offers a unique customer support platform on the web, in mobile apps and via chatbot. AnswerDash is his third stint as CEO, having sold one company a led another for fourteen years prior to its IPO.

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Resources Mentioned:

  • Your Big Idea: Successful Entrepreneurs have One Big Idea. Follow JLD’s FREE training & you’ll discover Your Big Idea in less than an hour!
  • Audible – Get a FREE Audiobook & 30 day trial if you’re not currently a member!
  • Wait But Why – Bill’s small business resource
  • Thinking, Fast and Slow – Bill’s Top Business Book
  • Connect with Bill on LinkedIn or via email

3 Key Points:

  1. Crafting a Plan B will not only save you in the future, but will also give you more clarity for today.
  2. First, build a great team—then prioritize all the rest as your team will get you to where you need to be.
  3. Continually share your vision with your team.

Sponsors

  • City National Bank: Looking for financial resources to help get your business to that next level? Visit CNB.com/fire! City National Bank member FDIC.
  • Organifi: Organifi Green Juice is packed with 11 energy-bumping superfoods and herbs, which means you’ll get long-lasting energy throughout the day. See for yourself: visit Organifi.com and save 20% with promo code FIRE!

Time Stamped Show Notes:

(click the time stamp to jump directly to that point in the episode.)

  • [00:58] – Bill started out as an engineer designing silicon chips
  • [01:03] – He got his PhD at UCLA and he went to law school
  • [01:20] – He went back to work as a banker
  • [01:39] – He then had the opportunity to start a company that made bluetooth chips
  • [01:58] – After a few years, he sold the company and moved to Seattle
  • [02:38] – Bill’s area of expertise is in being able to spot technology trends
  • [03:20] – One BIG and Unique Value Bomb: “Entrepreneurs should always be thinking through what their Plan B is”
  • [04:00] – Working through plan B, even if you don’t come to use it, gives a lot of clarity and focus for the task at hand
  • [05:18] – Worst Entrepreneurial Moment: Bill was in his last company, Impinj, back in 2001. They were pursuing North-tel and when they called back, the main engineer they were talking to had been laid off. (Sorry! This link was active when this episode was first published in 2017. This resource is no longer available.)
  • [06:18] – They just realized that what they had been working on for the last 2 years didn’t matter anymore
  • [07:02] – The Plan B mentality was born from that experience
  • [07:17] – Realize that there will be times you need to pivot or change plans
  • [10:22] – Entrepreneurial AH-HA Moment: 6-9 months later, Bill and his team were working hard on their new plans and they had the opportunity to establish their leadership. The fact that they had great people and a great team allowed them to pivot to another plan.
  • [11:59] – “It’s really about the team”
  • [12:23] – “Bet on people, not on products”
  • [13:10] – Create a common vision for your team
  • [13:30] – What is the one thing you are most FIRED up about today? Bill is fired up about artificial intelligence
  • [15:18]– The Lightning Round
    • What was holding you back from becoming an entrepreneur? – “I don’t think anything”
    • What’s the best piece of advice you’ve ever received? – “The best way to get a promotion into a job is to do that job first”
    • What’s a personal habit that contributes to your success? – “I read a lot”
    • Share an internet resource, like Evernote, with Fire Nation – Wait But Why
    • If you could recommend one book to our listeners, what would it be and why? – Thinking, Fast and Slow – “It has lots of insights about how we, as human beings, think and act”
  • [19:25] – Connect with Bill on LinkedIn or via email
  • [19:38] – Being an entrepreneur is a marathon – and it is NOT glamorous
  • [19:57] – Plan accordingly

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

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