Ep 164 The Bootstrap Billionaire ft. Randy Davis
About this episode
Randy grew up in a poor working-class family that always struggled living paycheck to paycheck. He discovered at the age of twelve, being a business owner could be his ticket to escape his family’s financial struggle.
Fast forward several years, his self-managing, self-improving businesses that ran on autopilot continued to have healthy growth and huge profits whether he was there or not.
In addition to building his empires, silently, Randy worked with other ambitious entrepreneurs consulting, advising, and creating strategies for them, while seeking to always find a better way.
He has helped:
- 196 struggling/brink of bankrupt business owners become multi-millionaires.
- 27 business owners grow from seven figures to mid-level nine figures.
- 28 billionaires.
- 19 celebrities and high-profile icons.
- Trained more than 10,000 small businesses.
After selling his last business, he took a five-year sabbatical to gain a vision what he wanted to do over the next twenty-five years to make a huge difference in other people’s lives. As a result, he developed an initiative he calls the Bootstrap Billionaire.
The Bootstrap Billionaire requires that Randy place 100% of his assets and income in a trust and not have access for ten years.
He cannot have access to resources or relationships built up to this point. He must start at zero, no income, no assets, no resources, no previous relationships.
He can only tap into the knowledge and experience he has acquired over time. Today on Strong by Design co-host Mike Westerdal speaks with his mentor about his beginnings in business and what it takes to REPEAT success over and over again.
"We all have unique gifts and one of the gifts I had was being able to find and attract really awesome people." -Randy Davis
Time Stamps
0:24 – Welcoming today’s special guest on ‘Strong by Design’ podcast
2:08 – Randy Davis shares his entrepreneurial journey and how it all started
7:32 – Randy on what makes his businesses different
11:50 – The importance of surrounding yourself with the right people
13:58 – Discover the things that contribute to business success
19:14 – Why it is important to work on your business, not in your business
27:05 – The benefits of working smarter instead of harder
32:48 – Randy recounts his experience with business planning
37:39 – The Bootstrap Billionaire: Everything you need to know
42:05 – Why growth mindset matters
45:00 – Where you can go to connect with Randy Davis
Resources
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