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Host: Jessica Dewell
Guest: Mark Podolsky
The unexpected learned from side-hustle.
Systems and strategy for additional income.
SaaS products in your non-technology business.
Less is more, and let ideas go easily.
Sustainable growth through modern revenue generators.
Get over what you don’t know about building a new revenue stream and go for it.
Value metrics and key indicators bring to the table.
When fear gets in the way what do we do?
Potential comes from the quality of the idea.
The role of personal values.
Reconciling what we know we can do with what we have only seen glimpses of more success than we can imagine.
Overcoming big obstacles.
What makes it BOLD to recognize there is more than one revenue model to grow your business?
Jess Dewell 9:33
We have the ability with all the information around us, with all of the tools, provided we can put them together in the right order, at the right time, to get the result somewhere in the vicinity of what we were hoping for. And then, of course, iterating and making that faster and faster.
Mark Podolsky 15:39
I like the Warren Buffett philosophy of “less is more.” Unless it’s an incredible opportunity, or an incredible idea I won’t chase it.
Mark Podolsky 15:50
I really tried to focus on my core competencies, things that are going to be evergreen only, and create passive income. And then also are scalable.
Jess Dewell 17:58
I’ve got to know my core competencies. I’ve got to know what I’m good at, to be able to know, can I move forward with this. And what resources are available to me.
Mark Podolsky 18:56
I don’t want to be the smartest one in the room, so other better people who can market this. There better people that can develop this. Are there better people that can execute on this.
Mark Podolsky 21:24
One of my favorite books is Andy Grove book,”Only the Paranoid Survive.” So I’m paranoid. Every day, I’ve got like an anxiety disorder. And then I always think to myself, “If everything’s going to change, what’s not going to change? People are always going to want a real asset, and they’re always going to want a good deal. So if I can provide those two things, I think I’m going to be okay.”
Mark Podolsky 22:59
We have this sort of unsexy niche with an inefficient market, and it’s really one of the last bastions of anything where it’s truly what a buyer and seller agree to.
Jess Dewell 24:12
You may not know Mark’s industry in real estate. You may not know his background in investment banking. But you can hear from the examples that he’s given us, and what we’ve been talking about, that creating something new out of something that already exists, and creating scalability where there seems to be inefficiency, is actually possible.
Mark Podolsky 25:26
Just focusing on what I can control, really helps with my anxiety as far as failing. Even if I do fail, at least I’ll fail trying really hard.
Jess Dewell 27:41
There’s always a metric. How do I know I’m on path? How do I know I’m going in the right direction? How do I check in and make sure that the performance that I’ve gotten so far is actually in line with where I’m going?
Mark Podolsky 28:09
We look at those metrics. How many offers went out? How many are pending? How many deals we close? How much more passive income that we create? How much enterprise value did we create? If those numbers are in line, that’s good. No one needs to get fired that week. But if they’re not, something’s got to change.
Mark Podolsky 29:53
Every day I meditate for 20 minutes. And when you become more aware of how crazy we are in our heads, you don’t take it so seriously, that little voice. Because if I personify that voice, first of all, they never shut up. And second of all, they flip on a dime, constantly judging the cousin narrating like really? I’m going to make a major decision based on that voice? Like, come on! Practicing, that takes time, but then you start seeing, like, overreacting or under react, or whatever it is, like, let’s get to reality. But I want to get to the reality of it. The reality of it is, there’s no cougars that are going to attack me anymore when I walk outside.
Mark Podolsky 31:33
This fear is just something that my brain is making up. Like, it’s not real. Like in this very moment, what is the problem in this moment? And there isn’t a problem in this moment. And if something happens, I can deal with it in that moment. I can’t deal with something that’s not real.
Jess Dewell 32:10
When we’re thinking of ideas. And when we’re evaluating and analyzing ideas that we thought were going to work and actually are not working. And we have to rip the band aid off and just let it go. We must become emotionally detached enough to make a good business decision. And a good business decision usually is without emotion. For those of us that have a lot of emotion and want to hold on to that, and are like, please, I know if we just keep working at it. Maybe not. Mark: I can solve this for you. Jess: Yeah, please tell me right now. Mark: It’s called going to the coffee shop with your mentor. Jess: Yes!! Mark: Because they’re not emotionally involved in any of this, Jess. Good idea, it’s not going to scale. The markets too small. It’s going to be commodity sized.
Mark Podolsky 33:56
If IN 36 months, you’re not profitable, quit. You need to wait at least 36 months. I mean, have a little grid,
Mark Podolsky 34:27
We only have so many hours in a day. There’s always going to be good opportunities. But where are the amazing opportunities? I want that opportunity that’s going to keep me up at night, and I can’t sleep. And when that happens, I know I’m onto something. But when it doesn’t, you know, you’re they’re doing it for the money, or you’re doing it for some other reason. It’s a good reason, it’s at the BEST reason? Then it’s a pass.
Mark Podolsky 35:53
You’ve got to have those bumpers of values. Otherwise, you make yourself crazy. But once you’re within that metric, then can you be flexible like a yogi? And be curious and start asking the questions? And then looking at it from an impersonal point of view? Then put on your investor hat. If I was an investor, what do I like about this company? And then you kind of get less emotional about it. And then if you’re excited about it, from that point of view, you’re excited about it from an ownership point of view, and you’re excited about it like, I can build a team around this. Try it and then pre sell it. Don’t build it until you’ve got a market. Don’t guess. Sell it first. If no one’s going to put credit card out, and put money down on it, then you gotta go back to the drawing board.
Mark Podolsky 37:10
If it’s not a hell yes, everything’s a no.
Jess Dewell 42:13
Some people say, “put on a new hat.” And other people say, “look at it with fresh eyes.” I’m like, “turn the thing upside down.” And that allows you to keep moving forward and to keep trying these new things.
Mark Podolsky 45:00
You don’t know until you do it. And so, the not knowing is a ris. And so it’s bold to put yourself out there and say to the world, “Hey, here’s this thing that I want to make. What do you think?” And then it’s bold to deal with it. That’s really what makes life worth living in a lot of ways, is kind of dancing on that edge of failure, and doing those things. And you don’t know. Be boring if we knew.
motivation, change, risk, intention, discipline, value, personal values, key indicators, scaleability
Strategic approaches to multiple streams of revenue build resilient business models.
How we approach sales growth is outlined in our strategic plan. The way we communicate, prioritize, and take action as a company impact our results. One way to achieve long-term growth is to have multiple revenue streams. Today Jess Dewell Talks with Mark Podolsky, The Land Geek and owner of Frontier Properties.
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