Jeff Fenster defines what it means to be a serial entrepreneur. Over the course of his entrepreneurial journey, he’s created and energised multiple business ventures in numerous diverse fields, from payroll to hospitality, and has achieved staggering success by sticking to his two core principles: to make friends and have fun.
With his clear vision, abundance of energy and his healthy perspective on team-building and developing a creative culture, Jeff has marked out a disruptive path to success, and in today’s show, he talks about his inspiring outlook on business, and how you can harness his attitude for yourself.
- Jeff began in law school, and aspired to be a sports agent, but the birth of his daughter, and the sudden realisation of the importance of family, caused him to pivot and re-evaluate his position.
- Jeff’s two principles are making friends and having fun. These are mantras he’s stuck to since the beginning of his journey, and they’ve allowed him to achieve a high level of client retention, and a wealth of quality referrals.
- Experience is the most overrated prerequisite to starting a company. An interesting statistic is that nine out of ten restaurants fail. Jeff chose to use this as proof that experience in an industry can still result in failure 90% of the time.
- The approach is simple: Jeff is highly skilled at business, and enters industries using his ‘making friends and having fun’ principles in order to surround himself with experts who want to get behind the vision. It’s a disruptive method, but has resulted in remarkable success.
- If you love what you do, and you’re passionate about it, then you’ll always find success eventually. Your passion will keep you coming back, and those who work hard will always get there.
- Whatever scale or stage that you’re at, it’s vital to recognise the position you need to take in the business. The person who starts a business isn’t necessarily the person who should scale it.
- Vertical integration is a concept that Jeff has embraced in all of his ventures. It is the method of adding value in order to make his client base happier, and hopefully induce them to invest more.
- The definition of scale-up is to build teams and build culture. The first step is to lose the ego. If you’re the best at something, then make sure you’re doing it. But have the grace to admit when someone can do the job better than you.
- Sometimes all we need is someone to vent our issues to. By the simple act of verbalising them, we can often see the solutions before us.
- Mentors aren’t just useful on an advisory basis. They can often provide pathways and solutions through their own networks that are unavailable to us.
- Personal branding is key to letting your customers know the “why” over the “what”. If you’re the face of your venture, and if your values and core principles are visible, then people will find it easier to identify those values with your product.
‘My wife will call me a degenerate entrepreneur’
‘I focused too much on my mission and not enough on my technology’
‘Me not having experience is a benefit here’
‘If I go in, I’m all in’
‘I never want to take my eyes off the prize’
‘I want to be the dumbest guy in the room’
Scale Up Your Business Podcast
Jeff Fenster LinkedIn - https://www.linkedin.com/in/jfenster/
Everbowl - http://www.everbowl.com
Jeff Fenster Instagram - www.instagram.com/fensterjeff
ABOUT THE HOST
My name is Nick Bradley. I’m an entrepreneur, author, speaker and investor.
My background is in growing and scaling VC and Private Equity backed businesses.
Having successfully built, bought and sold a number of companies, and removed myself from day-to-day operations, my focus now is on helping entrepreneurs get to where they want to be, in business and in life. As well as investing in growth businesses and backing turnarounds - with the ultimate aim of creating value from significant capital events.
I’m passionate about personal and professional development - showing up and being the best version of myself ... every day.
My bigger vision is to help bring entrepreneurial skills, experience and mindset to people in developing nations - so they can follow their dreams, live life more on their terms - utilising entrepreneurship as a global force for good.