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Entrepreneurs on Fire

How to Bootstrap to $10+ Million in Revenue with Lloyed Lobo

Entrepreneurs on Fire

John Lee Dumas

Business, Careers, Entrepreneurship

4.84.1K Ratings

🗓️ 22 June 2021

⏱️ 25 minutes

🧾️ Download transcript

Summary

Lloyed Lobo is the Co-founder of Boast.AI, which automates access to billions in R&D tax credits and innovation incentives to help businesses fuel their growth without giving up equity and dealing with red-tape.

Top 3 Value Bombs:

1. If you don't have an ideal customer, you won't know what to build, what to do, and what service to provide. Focus brings clarity to your messaging.

2. As founders, what we don't do well is that we no longer stop and smell roses. It's important to enjoy life a bit everyday and appreciate things a bit more everyday. Doing a bit more everyday compounds and becomes a big thing.

3. One of the most important things to build and inspire a team for high performance is to hire smart people and get out of their way. You hire people so they tell you what to do and not the other way.

Sign up find out how much R&D Funding you can get - Your R&D Tax on Autopilot

Sponsors:

HubSpot: Listen, learn, and grow with the HubSpot Podcast Network at HubSpot.com/podcastnetwork!

ZipRecruiter: When you post a job on ZipRecruiter, their matching technology finds qualified candidates and invites them to apply! Try it for free at ZipRecruiter.com/fire.

Transcript

Click on a timestamp to play from that location

0:00.0

Boom! Shake the room, Fire Nation! JLD here and welcome to Entrepreneurs on Fire brought to you by the HubSpot Podcast Network with great shows like the Salesman Podcast.

0:15.0

Today we'll be focusing on how to boost strap to $10 million plus in revenue.

0:22.0

And to drop these value bonds, I have bought Lloyd Lobo on the mic. He is the co-founder of Boost AI, which automates access to billions in R&D tax credits and innovation incentives to help businesses fuel their growth without giving up equity and dealing with red tape.

0:38.0

In Fire Nation, we'll talk about setting the right business goals and KPIs, how to identify ideal customers, we'll talk about our best options to fund our business without giving up equity and so much more when we get back from thank-in-our.

0:51.0

Sponsors!

0:52.0

Hiring can feel like trying to find a needle in a haystack, but when you post a job on Zip Recruiter, their matching technology finds these qualified candidates for you and invites them to apply.

1:03.0

So while other companies give you too many options, Zip Recruiter finds you the needle in the haystack.

1:08.0

And right now you can try Zip Recruiter for free at ziprecruiter.com slash fire.

1:14.0

The HubSpot Podcast Network is the audio destination for business professionals who seek the best education and inspiration on how to grow a business, whether you're looking for marketing sales service or operational guidance, the HubSpot Podcast Network hosts have your back.

1:27.0

Listen, learn and grow with the HubSpot Podcast Network at hubspot.com slash podcast network.

1:34.0

Lloyd, say what's up to Fire Nation and share something that you believe about becoming successful that most people disagree with.

1:43.0

Hey, excited to be here. Thanks for having me. I think one of the most important things that people disagree with me, other entrepreneurs, is relationships, transcend companies.

1:54.0

Companies and success is all about relationships. It's not the money in your bank. It's the people around your tombstone. And if you follow that philosophy, you'll get ahead and be successful in life.

2:05.0

Well, Fire Nation, as I mentioned, we're talking about bootstrap in our little booties off, specifically how to bootstrap to 10 plus million dollars in revenue.

2:15.0

And we have some really cool things that we can talk about here today. But I want to start off with the basics. Like let's start off Lloyd with talking about setting the right business goals and KPIs.

2:26.0

Awesome. Yes. So you can't succeed and you can't reach a goal that you don't have set, right? What you what you don't measure does not get done. And a lot of people I talk to they have this pie in the sky a goal, but it's not broken down into like where can I get 12 months from now?

2:43.0

Like what do I need to happen? And then bringing it all the way back to today, what do you need to measure and track week over week over week?

2:51.0

So I'll give you an example when we started the company, we had a goal to hit a certain revenue number by certain amount of time and everything every action we did, we were like, is it going to hit that goal?

3:03.0

If we, if we, let's say you had a goal that in three months, you need to get the quarter million in revenue.

3:09.0

How do you, how does that play out starting today? What are the actions you need to take each week to hit that goal?

3:15.0

And if you don't have a goal and you don't break it down and play it out all the way today and measure it week on week, then chances of that getting done are slim or you know, if may get done or may not get done, but what doesn't get what doesn't get measured does not get done.

3:30.0

Listen, brother, there are customers and there are ideal customers.

...

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