Success Story with Scott D. Clary
Lessons - Bootstrapping Your Way to a Billion | Liz Elting - CEO at Elizabeth Elting Foundation
Published on Nov 9, 2024, 10:54:00 PM
Total time: 00:10:54
Success Story with Scott D. Clary
Published on Nov 9, 2024, 10:54:00 PM
Total time: 00:10:54
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In this "Lessons" episode, Liz Elting, CEO of the Elizabeth Elting Foundation, discusses her journey in building a billion-dollar company from the ground up, sharing her approach to bootstrapping and achieving sustainable growth. She emphasizes the value of focusing on revenue and profit over seeking early-stage funding.
Profit Over Funding: Liz highlights why relying on revenue generation, rather than external funding, is crucial for long-term success. She discusses the pitfalls of taking on investors too early, which can dilute ownership and limit control over business decisions.
Empowering a Self-Sufficient Team: Liz explains her innovative approach to building a high-performing team, using a model that rewards employees for achieving milestones, fostering an entrepreneurial spirit within the company. She shares how this structure empowered employees to act like owners and contributed to the company's success.
The Power of Sacrifice and Strategic Growth: Liz reflects on the importance of intense focus and hard work, especially in the early years, to build a business with a solid foundation. She shares her motto, "Work today like no one else will, so you can live and give tomorrow like no one else can," underscoring her belief in sustained effort for lasting success.
➡️ Show Links
https://successstorypodcast.com
YouTube: https://youtu.be/cERvpeMOEPg
Spotify: https://open.spotify.com/episode/79tS1JPWcF3cFbkm7CGjVs?si=fe62da79ff9544f0
➡️ Watch the Podcast On Youtube
https://www.youtube.com/c/scottdclary
Welcome to the Success Story Podcast, hosted by entrepreneur, business executive, author, educator & speaker, Scott D. Clary (@scottdclary). On this podcast, you'll find interviews, Q&A, keynote presentations & conversations on sales, marketing, business, startups and entrepreneurship. Scott will discuss some of the lessons he's learned over his own career, as well as have candid interviews with execs, celebrities, notable figures and politicians. All who have achieved success through both wins and losses, to learn more about their life, their ideas and insights. He sits down with leaders and mentors and unpacks their story to help pass those lessons onto others through both experiences and tactical strategy for business professionals, entrepreneurs and everyone in between. To get more of the Success Story podcast, go to www.successstorypodcast.com.