What business will create freedom? Former $3M franchise owner Bing Oliver learned the hard way
Bing Oliver shares his journey from corporate employee to Chick-fil-A franchise owner to founder of his own business, Peake Coaching.
Three key juicy bits from this week’s episode:
- Understanding the reality of creating a business
- Ensuring that your business will serve you
- Humbling ourselves to spark growth
In this episode we discuss:
00:49 An introduction to Bing Oliver
- Bing’s current focus [01:14]
- An introduction to Peake Coaching [02:22]
04:40 Why Chick-fil-A is unafraid to express its values and why it’s ultimately good for business
07:06 Bing’s success as the owner of a Chick-fil-A franchise
10:49 Scaling your business by being deliberate about your time at work and hiring a team
- Why it pays to delegate sooner rather than later [14:22]
- Building a high-performance leadership team [17:21]
21:00 When Bing decided to step away from Chick-fil-A and start Peake Coaching
- How Bing’s desire for adventure led him to found his coaching business [23:07]
25:44 The mindset of an entrepreneur versus a non-entrepreneur
- Are you, as an entrepreneur, really living the freedom you desired? [29:15]
31:34 Bing’s struggles following his moving on from Chick-fil-A
36:54 How Bing got into coaching
- Getting the business model just right [39:17]
- Peake Coaching’s business structure [41:52]
43:18 Bing’s biggest failure in business and lessons learned
48:30 Bing’s parting shot
- If you’re finding yourself in this spot where there’s not enough time, the crazy counterintuitive answer is, the very first thing you need to do is start blocking out time and walking out the door.
- Something will materialize if you set your intention on getting some help and having a team. We like to make excuses like, “I don’t have the money.” But the real problem is that we’re not willing to let go.
- Build a diverse and teach that team to be self-leading so that whether I’m there or not, the business is moving forward, and there are people thinking and acting at a strategic level.
- If you ask a non-entrepreneur why entrepreneurs are entrepreneurs—why they do what they do—they’re going to answer money, which is sort of true. But if you ask a room full of entrepreneurs why they’re entrepreneurs, they’re going to say freedom.
- Everybody wants to be their own boss; but are you a good boss to yourself?
- If you’re doing cool stuff, people will work for less in order to be around that; or they’ll work for the hope of something bigger later.