From the archive: This episode was originally recorded and published in 2022. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL’s in these archive episodes are still relevant.

Rob Luna has 24+ years in private wealth management, advising entrepreneurs and executives, consulting for major brands, and earning Forbes Best-In-State Wealth Advisor honors in 2021 and 2022.

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Guest Resource

Rob Luna Website – Invest towards building wealth and financial freedom.

3 Value Bombs

1. Start your business with the end in mind, building enterprise value for a life-changing exit.

2. Most businesses fail due to running out of cash.

3. The biggest mistake entrepreneurs make is not building a scalable business, doing all the work themselves, and ignoring the end goal.

Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: Upgrade Your Life with Rob Luna

[1:04] – Rob shares something that he believes about becoming successful that most people disagree with.

Successful people take an exorbitant amount of risk. They go all-in on things even if people tell them that it’s not going to work.

[2:12] – As entrepreneurs, we make mistakes on a daily basis. What’s the number one mistake entrepreneurs make when starting a business?

They don’t create a scalable business. They go in with the idea of selling themselves to the community, and wind up doing all the work by themselves. They don’t think with the end goal in mind.
Start with the end in mind. When you do that, it forces you to create a business that’s sellable.

[4:00] – Share an example of “keeping the end goal in mind” and how that resulted in success

One entrepreneur sold a technology to Google. He saw a niche market, and an opportunity. He sat down with his team and started valuations to see what Google had paid to companies in the past
It only takes a bit of luck, but luck doesn’t happen without preparation.
It doesn’t have to be that large. The challenge with small entrepreneurs is they think they’re never going to sell to a big publicly traded company. They sell themselves short.
Creating a scalable business that has enterprise value and that is sellable is a lot easier than you think

[6:46] – Entrepreneurs need to be connecting their personal financial plan to the business strategy. Why is this important and how do we do it?

Know what your ideal lifestyle looks like.
There are a lot of personal decisions and financial planning that entrepreneurs can really benefit from if they’re looking to exit at some point.
Businesses usually fail because they run out of cash.

[11:45] – A timeout to thank our sponsors!

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[13:44] – Key components to successfully scaling a business.

Have a framework that allows you to provide a complete or moderate level of transparency and accountability.
Most people are coming to work for you because they believe in the bigger picture of what you’re trying to do for your clients and customers.
When you’ve set the strategic objectives for your company, set key performance indicators, too.
Scaling is about creating a system

[18:45] – Rob’s key takeaway and call to action for Fire Nation!

Have a strategic roadmap in place.
In building a business, forget about real estate, forget about the stock market. Start with the end in mind and build that enterprise value where someday, you could sell all or a part of that business and have a life-changing moment.
Rob Luna Website – Invest towards building wealth and financial freedom.

[23:03]– Thank you to our sponsors!

HighLevel: The ultimate all-in-one platform for entrepreneurs, marketers, coaches, and agencies! Learn more at HighLevelFire.com!
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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!

Upgrade Your Life with Rob Luna: An EOFire Classic from 2022

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3 Value Bombs

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Show Notes

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