Ryan Tansom is the Co-Founder and CEO of Arkona.
After hard work with his family's company, Ryan and his father turned the struggling business around by upgrading our staff, adding services, and implementing new systems.
In 2014, the company sold for eight figures.
“I didn’t know the difference between our job, that we had a W2 paycheck for, and the asset, which is equity, which comes with a set of distributions and equity growth. Those are two different things. So when people say, ‘I want out,’ I say, ‘Out of what? Your job or your asset?’” — Ryan Tansom [0:10:49]
Selling the business helped Ryan find his purpose in life. With that, Arkona was born. The company began with the vision to provide owners with the tools to focus on creating a valuable business with the end in mind.
Starting a business from scratch came with its own set of challenges though
In this episode, Ryan explains why entrepreneurs need more niche-specific learning materials. He also explains the difference between your business as a job versus an asset. Entrepreneurs needing to be well-versed in both finance and operations are often discussed with their clients.
Ryan goes on to explain why we should work toward aligning expectation and reality. He shares why podcasting could be a big win for many businesses, and the books he's read that helped him achieve his success.
KEY POINTS FROM THIS EPISODE:
Ryan’s background and how he ended up forming Arkona.
How he helped his father save the family business, and what he grew to love in the process.
Why entrepreneurs need access to more niche learning materials.
What he would’ve done differently when selling the family business
The difference between your business as a job and an asset.
Why a target equity valuation can prevent many mistakes.
Why it’s helpful to understand both finance and operations as an entrepreneur.
How you can only assess worth by having all available data.
Sales, marketing, podcasting, and other ways Arkona is making itself visible.
Why many entrepreneurs get their financial planning wrong
The problem with assuming that everyone cares as much as you do.
Ryan’s book recommendations.
Conscious capitalism
LINKS MENTIONED IN TODAY'S EPISODE: