Knowing What’s Enough - Mike Kalis - Entrepreneur Intel - Episode # 6
Our guest this week is an experienced entrepreneur who is driving the real estate industry forward. He took a company from a $25,000 investment to a $30 million company. Welcome to the show Chief Executive Officer at Great Lake Investments, Mike Kalis!
In this candid conversation, Mike and Host Wes Mathews discuss the challenges of rapid growth. Mike shares the need to balance money and growth, and emphasizes the importance of knowing your 'enough' and investing wisely in business.
Takeaways:
- Putting yourself first as a business owner is crucial, rather than solely focusing on your cause and vision. By understanding the difference between a sustainable business and a lucrative investment, you can ensure long-term success.
- Starting a business can be as simple as taking action and making connections. By leveraging existing resources and identifying opportunities for improvement, you can not only benefit your current company but also pave the way for future success.
- While a common belief among entrepreneurs is that rapid growth will lead to investors, it isn’t always the case. Working with people in your community is a more reliable way to ensure funding.
- Promoting and nurturing passionate individuals from within the company, who have a holistic understanding of the business, proves to be the best approach for leadership and growth. Organic training and promotion brings effective results in an organization.
- Implementing unique and creative marketing strategies, such as sending customized gift packages to potential clients, can attract attention and differentiate your company from competitors, leading to successful partnerships and substantial revenue growth.
- Building a platform without sufficient technological expertise can lead to costly mistakes and missed opportunities. Consider establishing a separate tech company to develop and license products, ensuring a more effective and profitable outcome.
- Knowing the point at which one is content and satisfied with the size and success of their business is crucial. It allows for a more focused and intentional approach, creating an opportunity to excel within a specific scope rather than constantly seeking rapid growth.
Quote of the Show:
- “We wanted to create a story worth telling, and nobody can take my story.” - Mike Kalis
Links:
- LinkedIn: https://www.linkedin.com/in/mikekalis/
- Website: https://www.greatlakeinvestments.com/
- Website: https://www.greatlakerealty.com/
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