Scott Kallick
00:00:00 - 00:00:16
The the entrepreneurial journey, it's a lot like mountain mountain climbing. There there's ups and there's downs. And, the important thing is just keep going, man. Just keep going. There's support out there for you. Find it for yourself. Don't try and do it by yourself. There's people out there who wanna see you succeed.
Wayne Herring
00:00:17 - 00:00:43
Hey, business builders. We're joined today by a repeat guest, Scott Kalic. Scott, it's really good to be with you. Scott Is, gonna share a little bit about who he is and and how he comes to business builders and what he's up to in the world right now. So, Scott, really good to spend a little bit of time with you. Yeah. So the first question, which could go deeper, could be shallow, is who are you and why are you here?
Scott Kallick
00:00:44 - 00:00:46
Okay. Well, I'm a man of the world.
Wayne Herring
00:00:47 - 00:00:48
I like that. Yeah.
Scott Kallick
00:00:48 - 00:01:34
I've had a long career as an entrepreneur, as a business Donor. I'm in my 2nd career now. I had a successful business and a successful exit to my business. It was defining Role and defining part of my life along with being a parent. But once I sold my company, I was in a very nice position where I could have retired, but, emotionally, I really wasn't ready to retire. But I've been, you know, spending the last 10 years really building a new business actually, the last 5, but building a business, building a brand. And why am I here? I'm here because my mission in life is not finished. I have a lot to accomplish.
Scott Kallick
00:01:34 - 00:02:18
I have, a lot to do. I feel like I'm in a very strong place. The world of entrepreneurship is a very special place, and but it takes a lot to navigate it, and it takes a lot of support to get through it. I feel in a lot of ways I'm really very uniquely, qualified to work with people and help people navigate their way through this journey. One thing I keep reading is that when people fail in business, the the rate of depression, the rate of suicide, the rate of divorce skyrockets. And that's a horrible thing to have to fear, and Right. I I wouldn't wanna see anybody go through that. It's a horrible thing to to see a business go down the tubes.
Wayne Herring
00:02:18 - 00:03:26
Yeah. So you you bring a whole lot of wisdom to our community, to And your group and to the rest of the business builders, like when we do a live event or, when you're able to join one of the wider group calls. And, and it reminds me that I interviewed Spencer Howell some time ago, and Spencer is the youngest member of our group right now. Maybe there'll be another younger One, and Scott, you're the oldest member of our Senior guy. Yeah. You're the senior guy. And and I love that range, Actually, in that experience, and certainly most of us fall kinda in that mid thirties to Fifty ish range, but it's Spencer's in his twenties, late twenties, and you're in your sixties, and that brings something really Special to the group, and so we appreciate that. What is before I go any farther, we did you and I did an episode before, so we're gonna talk about your Business build that that you, mentioned and how you successfully exited, and that was in the coin laundry business, so people can go listen to that Episode.
Wayne Herring
00:03:26 - 00:03:37
If you just give, like, kind of a snippet, just a 1 or 2 minute, though, of what that was, the business that you were in, and what it was like you exited it, how long you were in it? That that would be great.
Scott Kallick
00:03:37 - 00:04:08
Yeah. So I had just gotten married. I grew up in Chicago. I was living in Chicago. I never thought I'd live anywhere else but Chicago because I always loved being there and had my family and friends there. But I had an opportunity to buy this Small little they called the coin laundry route. So there were washers and dryers in different apartment buildings, and you'd service them, and they'd take care of them, and You collect the money, and you'd pay the people percentage or whatever generated. And so I I was able to cobble some money together, and I bought this Little tiny route.
Scott Kallick
00:04:08 - 00:04:48
And instantly, I I felt like I found my Holy grail. It was like, I couldn't wait to wake up every morning. I couldn't wait to go out. I'd hit the street. Some days, I'd walk home with 5 leases, new new accounts, and I was a machine just building the company and made a couple acquisitions, and it kinda compounds on each on itself. And Week after week, month after week, month, year after year, we grew and grew, and I didn't really wanna do anything else. And I got the point 25 years of business. My wife my then wife and I were partners.
Scott Kallick
00:04:49 - 00:05:47
Our marriage Lasted about 20 years into that journey, and then we separated and then divorced. But we decided we wanted to continue to run the company together because we We're very good at what we did, and we had a great company and we had great employees. But we become a mid market, best in class, best in service company. And After a certain period of time, the pressure of the divorce, it got too great, and I really didn't wanna continue anymore. I didn't really wanna sell the company, but Based on the fact that I had a partnership, and the partnership really wasn't working for me in any way. It was just time to get out. So We caught a really good seam, but there was a period of consolidation about every 7 years in the industry, And we kinda caught it right there, right at the top of it, and we got very fortunate. We sold out right at the apex Of that market, we act actually had 3 companies bid bidding against each other on it.
Scott Kallick
00:05:47 - 00:06:01
And it was very exciting to exit, but it Left this huge void in me. Like, okay. Who am I? And it's funny because I went through that when I got divorced too. This is always the way I look to myself. I'm a husband. I'm a father. Well, No. I'm not a husband anymore.
Scott Kallick
00:06:01 - 00:06:08
Well, no. I'm not a business owner anymore. Who am I? So it it was a really interest both of those were very interesting times for me.
Wayne Herring
00:06:09 - 00:06:29
Yeah. And kinda skip ahead a little bit. You now are a coach, and you work with business Owners, and you've got that great experience of having built your own business. And just so I don't get too deep into this, so if somebody did wanna look you up and Understand more about what you do. Where would they find you
Scott Kallick
00:06:30 - 00:06:41
on LinkedIn? Can find me on LinkedIn, which would point them to my website, which is scott@scottkallick.com. So either one of those places, they can find me. Yeah.
Wayne Herring
00:06:41 - 00:07:22
Yeah. And so now, I know that recently, and I wanna ask you some questions about this. You have studied and you you you had been doing a Kind of a a life success coaching program before that you went and learned about, and you added that to the skills that you already had as a business owner. You Yeah. That other program, and then you you recently studied hard and went through classes and learned a new system Designed to help business owners take a look at profitability and and things. You're adding that in. And you said, what'd you say? A traveler of the world? That I'm a traveler? Is that the phrase that you use, but
Scott Kallick
00:07:22 - 00:07:24
you're The world of the world, but.
Wayne Herring
00:07:24 - 00:07:56
Yeah. And you and so you're in Colorado right now. You have a place in Pittsburgh going to Colorado, so you're in your Colorado house. And So partially who you are, because it's that's what's interesting about you, not just the the business and the big exit And the fact that you're vulnerable enough to talk about a a void in your life, thank you. All those things are are interesting, but also your Golfing and you're skiing and you're kind of partitioning out and balancing life right now. Right?
Scott Kallick
00:07:57 - 00:08:45
Yeah. I mean, right now, it's really important for me to have a balance in my life, and I always thought at some point, I'd move to Colorado because I always thought of having an active retirement, be able to hike and bike and and stay active in my retirement. As I really thought about it, I'm like, I don't really wanna retire. I love the business world. I have a lot to give, and I really Feel like I've got a mission. So I don't really wanna retire, but the the interesting thing is when you get into your sixties, I speak for myself, but probably for a lot of other people as well. On my mind, I'm still a young man. I'm still in my twenties and thirties into my mind, But I don't have the legs I used to have, so I have this wisdom of, hey.
Scott Kallick
00:08:45 - 00:09:14
I've built this, and I kinda know how to do this, but I'm not gonna be working 14 hour days anymore. It's just not in me anymore to do that or nor do I have the desire. But I do enjoy working, and 6, 7 hour days are great for me. And it leaves me time to be out in Colorado. I live on a golf course. I can hop on the course whenever I want. So this summer, I've golfed 3, 4, or 5 days a week after I finish work. Got a couple bikes.
Scott Kallick
00:09:14 - 00:09:28
There's great trails around here. I take Doug for hikes every day. So I'm outside 3, 4 hours a day at least, almost every day. So this is the balance that I was looking for and that I really want in my life.
Wayne Herring
00:09:29 - 00:10:15
And one of the things that you bring to the group and experience that you speak from Lived experience is you'd had a health life scare when you had a couple episodes, and you were in the hospital for a long time, and you couldn't come to our group. And that has I mean, I Read stoicism, and it says that I should meditate upon my death, and that that will be helpful. And I have thought about that, But I don't I haven't thought about it. You know, let let's be frank. I haven't thought about it in a real raw way, certainly, that you have, but that's, something that you bring to your group and that you share too. Right?
Scott Kallick
00:10:15 - 00:10:57
Well, yeah. I mean, I was 61, and I got diagnosed with Crohn's, and I got really sick. I mean, I never carried a lot of weight. I always Exercised all the time. I've I've always stayed lean, but I I lost 50 pounds when I was malnourished. And my colon was Deteriorating, and I had a operation removed part of it, which sent me back, and then the rest of it Went bad, and I spent over 2 months in the hospital last year. And, really, I think for me, Maybe it's different for other people, but when I was as sick as I was, I I think I was in a lot of denial. Like, Yeah.
Scott Kallick
00:10:57 - 00:11:04
I'm gonna be fine. Don't worry. You know? I tell the kids, hey. I'm fine. Don't worry about me. Go on. Do what you're doing. Go on with your life.
Scott Kallick
00:11:05 - 00:11:32
But looking back on it and even having visited doctor yesterday, she said, hey. You were the walking dead. You were in the waiting room, And I see that now. I was. And you get to the other side of that, and this could come back. I mean, it's not likely, but Very well could come back, but every day is a gift. I wake up in the morning, and it's like, hey. What am I gonna get done today? Someone sent me a list of, like, A 100 accomplishments and a 100 goals.
Scott Kallick
00:11:32 - 00:11:46
Mhmm. Write that down. That's tough. Once sitting, I got to about 20 on each side. Now I'm about 60, but every day I think of, oh, I wanna do this, and I write it down. Not every day. I don't do it every day. But I've knocked off 3 or 4 of them this summer.
Scott Kallick
00:11:46 - 00:12:13
Yeah. I went on a 9 mile hike up to Crystal Mill here, which was about a 7, 8 hour hike and Couldn't get able to go with me, so I went by myself. And I stayed with every second of that. This is my bucket list. This is cool. This is what I wanna do. So, yeah, it definitely gives you a new perspective, and it gives you the freedom to say things to people that I wouldn't normally say. Just Just tell people how I really feel about them.
Scott Kallick
00:12:13 - 00:12:23
And as a coach, it gives me the freedom to really Take stock and reflect on, hey. You're a great guy, but you're being a real butthead right now.
Wayne Herring
00:12:23 - 00:12:36
Yeah. At first, when you said, When I get to tell people how I really feel, I was thinking, like, I tell people how I really feel, but no. What you were saying is, I I get to tell people I care about and, The the how I really feel.
Scott Kallick
00:12:36 - 00:12:37
Yeah. I mean, it's
Wayne Herring
00:12:37 - 00:12:38
like was easy.
Scott Kallick
00:12:38 - 00:12:40
You know, guys, especially guys my age. You know?
Wayne Herring
00:12:40 - 00:12:41
Right.
Scott Kallick
00:12:41 - 00:12:57
In my parents' age, we haven't grown up comfortable telling Our friends, hey. I love you. You're important to me. I love you. And it's given me the freedom to be able to say that because do I know I'm gonna be here tomorrow? Yeah. I'm probably gonna be here tomorrow, but But who knows what next year looks like or the year after? So
Wayne Herring
00:12:58 - 00:12:58
Right.
Scott Kallick
00:12:58 - 00:12:59
Yeah.
Wayne Herring
00:12:59 - 00:13:23
Well, thanks. And so the work you're doing now, So tell us a little bit about the work you're doing now. And I know, like, lately, you've been excited. You're like, hey. I'm back to calling again. And you just Mention now, like when you first got the laundry business, you'd be out, and you were excited and you were going to meet new people and set up, Meetings and things, and and you've been excited lately about the the new work that you're doing.
Scott Kallick
00:13:23 - 00:13:55
Yeah. You know, when I Sold my company. I I took a position in the corporate world. I wanted to really understand what it was all about and see what it was all about. I wouldn't say I walked away disillusioned, but I walked away disillusioned. And I was like, okay. What's next? So I went back to school and I got a coaching certification. I started working mainly with startups because I kinda had a passion for For that, I started a company from almost nothing and built it up and had this passion for that.
Scott Kallick
00:13:55 - 00:14:54
And, startups are difficult to work with. And I still work with some, and there's handful of men I I really enjoy working with. But I really decided, you know what? I'm better served working with more established businesses. And so I'm working in a profit acceleration program now where I can work with them, I can sit with them, I can show them where the hidden profits are in their company. I I can tell them areas in the company that they can really begin to grow and compound the the growth in their company and create space for themselves whether it be, Hey. I'm getting to that age where in the next 4 or 5 years, I may be wanting to sell my company, and I can help them get a better valuation on their company and put more money away for retirement and equity in their company. On the other side, if they're on the newer side of that journey or middle side of that journey, maybe they're doing a lot. Maybe they're doing Too much in their business.
Scott Kallick
00:14:54 - 00:15:13
Maybe they're wearing too many hats and create some space with new revenues to maybe hire an operations manager so they can Really focus on the things they're really good at in their business and really take the time to look holistically in their business where they can really grow it. And that's very exciting. That's a very exciting thing for me to be able to do.
Wayne Herring
00:15:14 - 00:15:59
So you use the phrase, I've heard you say this to other people Within the business builders community about, Hey, you're a really good operator, so I've heard you say that to Craig And and the group that you're in, like, you're a great operator. So you think about businesses, and you think of that CEO, and you think about them being the operator, And you like the numbers, and you had an affinity for that when you're your own business. So for you to get involved with this New program, the profit acceleration program, and get in the numbers with a business owner to help them see what's really going, identify opportunities, Seems like it's a really good fit for you, and that sounds like operator too, operating on the numbers. Right?
Scott Kallick
00:15:59 - 00:16:23
Yeah. It is. And and the other part I really loved about I had my own business was the creative opportunities. I'm really looking at spaces where nobody had really looked before creating, Doing things in a way that nobody had ever done them before. And to me, that's the real excitement of a business. When you're working in a company in the corporate world, You're basically following the dicta. This is the way it's done. This is the way we do it.
Scott Kallick
00:16:23 - 00:16:42
You show up at this time and you do this. Having your own business gives you the opportunity to really express yourself in ways that the normal person really can't, and to get people really focused on that I'm excited about that. It is a really great opportunity to both for them and for me.
Wayne Herring
00:16:43 - 00:16:53
It sounds like you would say Tell me if you agree with this. There is opportunity for artistic expression in the balance sheet and in the income statement.
Scott Kallick
00:16:54 - 00:17:18
And in the operation. Yeah. I mean, and in the operation, you know, good operators Look at solutions the way other people don't. They they can look at something and say, hey. We're gonna do it this way. Well, nobody's ever done it that way. Well, who cares? You know? It's gonna work, because because I think it's gonna work, and I believe it's gonna work, and it's gonna work. That's when a company really can accelerate from an operational standpoint.
Scott Kallick
00:17:18 - 00:17:22
But From a number standpoint, yeah, there's artistic expression there too.
Wayne Herring
00:17:23 - 00:17:49
So in building your business now, the the current business, You are going out and you are working to make connections with people who are much like you were after the business had been established and was A little bit more down the road, so you're going out and connecting with them, and then you're having conversations with them so that you can create Coaching arrangements and build your book of business. Right?
Scott Kallick
00:17:49 - 00:18:13
Yes. A company that's doing a half $1,000,000, if you can grow them 20%, They're up to $600,000. It's a 100,000. It's substantial. But when you're working with a company that's 7 or 8,000,000, and you can say, hey. Let's grow this 10% up. Let's bring another $800,000 into the bottom line. That that gives people a lot of Freedom to do a lot of things.
Scott Kallick
00:18:13 - 00:18:22
That's an exciting place to be. And then you look at, hey. 10% is not that much. Let's look at 15 or 20 and really see what's possible for you.
Wayne Herring
00:18:23 - 00:18:51
So in your business now, you're using technology. You're using the training and education and best practices of this other company. And I also understand that you're working with some you've discovered and you've talked about Working with fractional assistants, people that are outsourcing, if you will, VAs, different way to say it. Those are all pieces Now that you're bringing together in this business. Right?
Scott Kallick
00:18:51 - 00:18:57
Well, we have it would be up to the operator to bring those people in, but I think they're very
Wayne Herring
00:18:57 - 00:18:59
Via You're personally using them?
Scott Kallick
00:18:59 - 00:19:06
I am using, yeah, I am using VA. Yes. Yeah. Because My technological skills are over generation.
Wayne Herring
00:19:08 - 00:19:22
But well and that's not the best use of your time and gifts. We just went through all these Different experiences you've had in life and in business, so we don't need you to worry about that. All the techie, Some of those finer tuning things. Yeah. For sure. That makes sense.
Scott Kallick
00:19:23 - 00:19:23
Yeah.
Wayne Herring
00:19:23 - 00:19:49
Yeah. So kinda last question as we're wrapping up, Scott. If people are joining Business Builders, our mastermind group, both an individual small group and then the larger community, what advice would you give people for how to make the most, of this program? And it could apply to any Other mastermind group too for that fact.
Scott Kallick
00:19:50 - 00:20:19
Well, 2 things. First of all, presence. Be present when you show up. Be very tuned in to the people who are talking. Listen with your heart as well as your eyes and your ears. When people are talking, don't be afraid to make the relationships in the group because these are your friends, and they're your team as well. And second of all, And believe me, I'm I'm not a 100% with this, but I'm getting there. Spend some time before the session.
Scott Kallick
00:20:19 - 00:20:26
Spend 15 10, 15 minutes, and Really chart out what you wanna get out of the session before you go.
Wayne Herring
00:20:27 - 00:20:50
Yeah. Prep and then integration time afterwards. It's a good reminder for me in the group that I'm in too. And the other thing I I've heard a couple people say that I oh, hey. I had a conversation with Scott, Like 1 on 1. So I think you've been engaging a bit with 1 on 1 conversations with other people in the community, and that Always seems to really help everybody involved.
Scott Kallick
00:20:51 - 00:21:26
Yeah. I mean, one thing I've done inside and outside this community Over the last 4, 5 years, I I've become a a tireless networker. I I network all the time. I probably have 7 to 8 1 on ones a week, I pass along 8 to 10 referrals every week. And It just like, you do a 1 on 1, and people kinda forget who you are, but you give them a referral. And you call them 6 months later, they're gonna remember you. They're gonna remember who you are and what you did. So it's a good thing to be able to do.
Wayne Herring
00:21:27 - 00:21:34
There's 2 guys in your group that tend to kinda bust on each other a lot. So I wanna ask you, which is your favorite, Buddy or Craig?
Scott Kallick
00:21:35 - 00:21:35
Craig.
Wayne Herring
00:21:36 - 00:21:37
Without hesitation.
Scott Kallick
00:21:37 - 00:21:44
Well, you know, I'm I'm a big fan of sarcasm. So k. Craig is about as sarcastic as they come. So
Wayne Herring
00:21:45 - 00:21:58
Anything you'd like to close with? Anything that you'd like to speak in to other entrepreneurs who might be listening to this About the journey they're on or anything, like open mic, whatever whatever you've got.
Scott Kallick
00:21:58 - 00:22:15
The the entrepreneurial journey, it's a lot like mountain mountain Climbing. There there's ups and there's downs. And, the important thing is just keep going, man. Just keep going. You're cruising downhill and you think, hey. This is great. And then all of a sudden, look up, and you have a 15% incline. It's just gotta tough it out.
Scott Kallick
00:22:15 - 00:22:28
And the other part is There's support out there for you. Find it for yourself. However that looks for you, there's support out there, and don't try and do it by yourself. There's people out there who wanna see you succeed.
Wayne Herring
00:22:29 - 00:22:39
Awesome. Thanks for joining us today. You're a gift to the business builders community And I know to your clients' current and future too. So we appreciate you, Scott.
Scott Kallick
00:22:40 - 00:22:41
Thank you. Thanks for the opportunity.
Wayne Herring
00:22:42 - 00:22:42
Yeah.
