Stephen Kane is Founder and CEO of ArbiClaims, an online dispute resolution platform. ArbiClaims uses court enforceable, binding arbitration and other online tools to resolve disputes under $10,000 via 10-to-30 minute webcam hearings. Stephen is a start up and small business attorney by background and was one of Lex Machina’s first sales hires before they sold to Lexis Nexis.
Click to tweet: Fire Nation, Stephen shares his incredible journey on EOFire today!
Time Stamped Show Notes
(click the time stamp to jump directly to that point in the episode.)
- 00:15 – How to Finally Win – Create your dream life one step at a time!
- 01:09 – FairClaims is based in downtown LA, where Stephen also lives
- [01:30] – Stephen is the first of his siblings to go to college
- [02:27] – Stephen realized he had the entrepreneurial instinct while at college
- [03:24] – JLD says your niche can now be explored online
- [03:40] – One BIG and Unique Value Bomb: Reading social dynamics
- [04:28] – Stephen understands social dynamics because he came from a big family
- [05:22] – When doing sales, reading people has become beneficial
- [06:05] – Worst Entrepreneurial Moment: I had a business called Home Fries and ran it for a few years
- [06:31] – Stephen started in the events and entertainment business because he wanted people to play pickup basketball
- [07:24] – Stephen considers himself stubborn because he stayed with the project too long – even when he wasn’t passionate about it
- [08:06] – Stephen ignored some of their problems and their customers
- [08:15] – Zinga asked them to do a scavenger hunt, but they were not ready to do it
- [09:01] – The rules of the scavenger hunt were way too complicated and people saw the loopholes
- [10:06] – Stephen lost their business and had to give refunds
- [10:38] – Stick to what you know and do it really well—make sure you’re able to let go of a business that you are not good at
- [10:45] – JLD tells Fire Nation “stay in your lane”
- 11:15 – Greatest AH-HA moment: FairClaims
- [13:39] – What is the one thing you are most FIRED up about today? – Helping people who are not being heard
- [15:11] – JLD tells Fire Nation to look at the opportunities, like Stephen did
- [15:37] – The Lightning Round
- What was holding you back from becoming an entrepreneur? – “Fear of failure and fear of success”
- What’s the best piece of advice you’ve ever received? – “Marry the right woman”
- What’s a personal habit that contributes to your success? – “I force myself to take every Saturday off”
- Share an internet resource, like Evernote, with Fire Nation – UpCounsel
- If you could recommend one book to our listeners, what would it be and why? – Social Intelligence by Daniel Goleman
- [17:23] – “Be super picky about your investors and business partners”
- 18:32 – The Freedom Journal – Set and Accomplish your #1 goal in 100 days!
3 Key Points:
- Stay in your lane—if you enjoy the work and do it well, you’ve found your lane.
- If you’re passion and energy is zapped and your business is not doing well, know when it’s time to call it.
- Keep your eyes open for opportunities and jump!
- UpCounsel – Stephen’s small business resource
- Social Intelligence by Daniel Goleman – Stephen’s Top Business Book
- Audible – Get a 30–day free trial of fantastic audiobooks!
- FairClaims – Stephen’s website
- How to Finally Win – Create your dream life one step at a time!
- The Freedom Journal – Set and Accomplish your #1 goal in 100 days!
- Host Gator: With HostGator, having a website is easy AND affordable. Visit HostGator.com/fire for 60% off today!
- Caliper: Assess your team today – FOR FREE – and you’ll discover what makes each person tick and how to improve the performance of your team. They’ll also give you an hour of free consulting! Visit CaliperCorp.com/fire
1) The Freedom Journal: Accomplish your #1 goal in 100-days!
2) The Mastery Journal: Master productivity, discipline and focus in 100 days!
3) Free Podcast Course: Create, grow, and monetize YOUR Podcast!