How can you make sure that you and your businesses can survive almost anything, and come out even stronger on the other side?
With over 20 years of Internet experience, Stephan Aarstol is an Internet industry veteran who has founded multiple ventures. In 2014 with a staff of just 5 people and revenues of $5M, Tower Paddle Boards (back by Mark Cuban on Shark Tank) was named the #1 fastest growing private company in San Diego by the San Diego Business Journal. A year later Tower was #239 on the INC 500 list of America’s fastest growing companies. In 2015, to challenge long held delusions about unhealthy start-up work culture, Stephan moved his whole company to a 5-hour workday and would later write a book titled “The Five Hour Workday” about the experience, which would spread the idea to tens of millions of people worldwide, and get press in over 20 countries.
Here are a few key secrets we talked about in this episode:
- The biggest teaching moment from giving the worst pitch in shark tank history but still scoring a deal with Mark Cuban
- How to pivot and shift to opportunity amidst the COVID-19 chaos
- How monopolization over the last few years is affecting retail businesses everywhere right now
- How Stephen is personally prioritizing and pivoting in his business right now
- Why focus is just as important as diversification
- What a “burn rate” is and why you must keep yours as low as possible
- How embracing the process can help you face any challenge that comes your way
If you want to pivot your business and make sure you survive these uncertain times, this bonus episode is for you! Special thanks goes out to Stephan for taking the time to chat.
Connect with Stephan here:
- The Five-Hour Workday: Live Differently, Unlock Productivity, and Find Happiness
If you loved this episode please consider sharing it with a friend! And, we’d love it if you wrote us a 5 Star review on iTunes and subscribed to the show!