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While pursuing a Finance Degree at the University of Michigan Paul had dreams of climbing the corporate ladder to the top. Soon after starting his climb in Chicago, he started seeing cracks in the corporate rat race. Lost in a sea of cubicles and endlessly crunching spreadsheets with no sense of gratification, Paul packed his backpack and headed to South America for two months, knowing he would never return to Corporate America. When he did return, Paul began research into home-based businesses that fueled his passion for sports, kids and business leading to investment in his first franchise, an afterschool sports enrichment program for kids.
Business took off and Paul soon realized he would need to implement systems and put the right people and processes into place in order to create a business that ran itself and provided him a six figure income. Through many long nights, working weekends and no vacations, Paul was been able to implement and perfect his system to automate his franchise.
By the start of 2015, Paul’s franchises were running themselves which gave him the freedom to spend more time with family and growing his business. His hard work had paid off as he was able to sell his franchises for almost 7.5x his initial investment and 3x his net income.
“What if I got hit by a bus?” This question gave Paul the realization that he needed to put the people, processes, and systems in place for the business to survive without him.
Favorite System Tool
Camtasia (for documenting established systems)
Dropbox.com or Google Docs (for storing and sharing)
Slack.com (for communicating with the team)
E-Myth Revisited, Michael Gerber
Built to Sell, John Warrillow
Topic-specific Facebook groups
“Start with the end in mind, have patience, and be persistent!”
Automate Your Franchise podcast (iTunes)