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James Friel

How To Build A Company You Can Successfully Sell

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Growing Businesses Into Income Generating Machines

With James Friel, entrepreneur, consultant and author

Courtesy of Levi Walton/Viceland

The faster you want to go, and the bigger you want to scale, the closer attention you have to pay to those details. Right? It would be reckless to drive a car really fast without a speedometer or a gas gage.

JAMES FRIEL

James P. Friel is an entrepreneur, consultant, and author who helps entrepreneurs systemize, grow, and scale their businesses. He has simultaneously run multiple 7 figure companies and has consulted with CEOs, entrepreneurs, and executive level staff.

In this podcast, James talks about how he got started by helping Russell Brunson scale ClickFunnels. Since then, he’s developed a system to get business owners out of the day to day operations of running their companies, so they can make more money and have more time and freedom.

He has valuable advice to share about identifying weak points in a business before scaling it, clarifying roles for team members to improve effectiveness, and transitioning from entrepreneur to CEO.

James teaches us to take massive action if we want to propel our career forward. His overnight, crazy idea to take up drumming became a metaphor for growing a business. He believes business, you take it slow, matching the tempo with your capability, to have long-term sustainability.

Since leaving his corporate position as Global Head of Digital Strategy for HSBC Bank in 2011, James has consulted at companies ranging from Fortune 500 corporations to smaller, more entrepreneurial ventures, helping them systematically increase efficiency while also growing their sales.

James holds a Bachelor of Science from Embry-Riddle Aeronautical University and lives in Boise, Idaho where he enjoys being “a student of the game of business.”

Courtesy of CoFound Harlem

In this episode you’ll learn:

  • How James got started by helping Russell Brunson scale ClickFunnels.
  • The transition from entrepreneur to CEO who is running operations.
  • The five functions of a business, regardless of business size.
  • How to look for imbalances in your business before you can quickly scale it.
  • What investors are looking for when buying a business.
  • How to be effective in your role at a company and clarifying responsibilities.
  • How to hire the right people for your company.

Transcript

Dan Lok: Welcome to another episode of Dan Lok show. Today we are in actually New York City, and I’m with John Henry. Now John not only is an entrepreneur, but also a real estate investor as well as owns a venture capital company.

John Henry: That’s right.

Dan Lok: Now before we even talk about John’s story, I want to talk a little bit about this space.

John Henry: Let’s talk about it.

Dan Lok: Let’s talk about this space. Like what makes this space, co-working space, so special?

John Henry: First things first, thank you for having me on.

Dan Lok: Welcome man, welcome.

John Henry: Appreciate you. And look, what makes this space special is this is the proof right here. Like you’re on a one day trip, you came, you interviewed with Faiza, this content, that content lined up. We connected and it’s central in the city, a lotta energy here, there’s six floors.

Dan Lok: You can feel the entrepreneurial spirit.

John Henry: That’s right.

Dan Lok: The minute you walk in you can feel the hustling.

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Dan Lok: Welcome to another episode of Dan Lok show. Today we are in actually New York City, and I’m with John Henry. Now John not only is an entrepreneur, but also a real estate investor as well as owns a venture capital company.

John Henry: That’s right.

Dan Lok: Now before we even talk about John’s story, I want to talk a little bit about this space.

John Henry: Let’s talk about it.

Dan Lok: Let’s talk about this space. Like what makes this space, co-working space, so special?

John Henry: First things first, thank you for having me on.

Dan Lok: Welcome man, welcome.

John Henry: Appreciate you. And look, what makes this space special is this is the proof right here. Like you’re on a one day trip, you came, you interviewed with Faiza, this content, that content lined up. We connected and it’s central in the city, a lotta energy here, there’s six floors.

Dan Lok: You can feel the entrepreneurial spirit.

John Henry: That’s right.

Dan Lok: The minute you walk in you can feel the hustling.

John Henry: That’s right, and there’s a lot at WeWork’s, obviously, and this is … this, though, is billed as like the OG space, and there are a lot of veteran New York entrepreneurs here. There are several accelerators and several funds and stuff, and so yeah, I’m fortunate to be part of this community.
So we’re in Alley right now. Yeah, and that’s where we find ourselves.

Dan Lok: That’s awesome.

John Henry: Welcome to New York, man.

Dan Lok: Thank you, I love New York. The cold, it takes a couple of days to get used to. The minute I arrived, the airport, like wow! This is cold. I know New York, it’s cold. But this is cold!

John Henry: This is very cold.

Dan Lok: This is very cold. So John, take us back. How did you get into entrepreneurship?