Wayne Herring - Can you really have it all?

This podcast is sponsored by TalkSpace. May is Mental Health Awareness Month. In TalkSpace, the leading virtual therapy provider is telling everyone, let's face it, in therapy, by talking or texting with a supportive licensed therapist at TalkSpace, you can face whatever is holding you back, whether it's mental health symptoms, relationship drama, past trauma, bad habits, or another challenge that you need support to work through. It's easy to sign up. Just go to Talkspace.com and you'll be paired with a provider typically within 48 hours. And because you'll Meet your therapist online. You don't have to take time off work or arrange childcare. You'll meet on your schedule. Plus, TalkSpace is in-network with most major insurers, and most insured members have a $0 co-pay. Make your mental health a priority and start today. If you're not covered by insurance, get $80 off your first month with TalkSpace when you go to Talkspace.com and enter promo code S space 80. That's SPA CE 80. To match with a licensed therapist today, go to Talkspace.com and enter promo code. Hi everyone, it's Bill Black, the exit coach from the Exit Coach Radio show. You know, one of the biggest questions I get on the show is what exactly goes into a business exit plan and when should I start creating mine? Well, I always tell people that the best time to start was 5 years ago, but the next best time is now because you never know when you might need it. So we put together a free report that describes what an exit plan is and what you should know. You can get it free by texting exit plan with no spaces to 44222. That's exit plan to 44222. Again, text exit plan to 44222. Welcome to the Exit Coach Radio show, the show for baby boomer business owners who are looking for cutting edge information as they plan their 3 to 10 year business succession and exit. Every week we interview top professional advisors for their best tips, strategies, and precautions so you can be well planned. And now here's your host, the exit coach Bill Black. Well, hey everyone, thanks so much for joining me today. Pleasure to have you with me once again. You know, we've interviewed, I was just counting it up over 1500 advisers over the last few years. It's always interesting to get different angles from different top advisers, and you know, one of the things that's happened over the last many years is more and more business owners are coming together in a mastermind type of environment to learn more about each other and how to solve their issues and problems and deal with things that maybe nobody else wants to hear them talk about. And today as the founder of Business Builder Camp, we have Wayne Herring who's helped men across the country grow their businesses into successful and thriving enterprises. However, there's so much more to his story than simply coach or consultant. Wayne has worked as a specialty drilling and blasting contractor and an organic organic farmer. He's also run ultra marathons, gone on epic road trips, and is a 1997 Montana State arm wrestling champion. He loves to hunt and farm, but he also enjoys yoga and meditation. Some have described Wayne as a Renaissance man, but he thinks that's kind of a strange term for the son of a coal miner. Welcome to the show, Wayne. Thanks for joining me today. Hey, great to be with you, Bill. Thanks. Hey Wayne, today we're going to talk about can you really have it all and learn more about what you're doing to help business owners to have a more well rounded life and a more fulfilling sense of being. Can you just start with telling us a little bit more about you and your background and how you came to start Business Builder Camp? Sure. I want, I wanna talk a little bit about the focus of your show. Uh, a, a baby boomer owner who is working to put a plan together. My dad is a baby boomer, uh, business owner, and Uh, my experience that's relevant to this is I worked with him for 9 years. I worked with him in the latter half of his company build, and I, about a year and a half after I went to work with him, he sold 80% of the company, or they don't like to call it that, they don't call it selling, but he took on an 80% private equity firm as a partner. And so I got to experience that world and then we grew the company uh as part of their portfolio and then in 2013, We went through a very intentional sale process and we ended up selling the company um to a publicly traded firm. And at that point is when I decided I have 4 kids. They were pretty young. I'd spent a lot of time on the road, uh building the company, um, topline and also the EIA, and I decided I didn't want to keep going with the company. We had the organic farm. Uh, and so, you know, that's when coaching, consulting started, but I got to, I, I really got to see a lot of what I believe you work with, uh, business owners on in the form of what happened with the transition of, of my dad's company, so. Well that's great. Yeah, the small and medium business owner, of course, is the backbone of our economy, of our country. So many people, baby boomers born between 1946 and 1964, are coming of age as far as thinking about what's next in their. Life they're not necessarily old in mind, but it's they might have been doing what they've been doing like your dad for many, many years, and they're just saying, you know, there's there's more that I want to get out of life. There's more that I want to do, and I want to do it now before I'm too old to do it. So tell, tell us a little bit about that. your coaching and consulting and how you help business owners. What are some of the things that business owners call you for and say, Wayne, I really need help doing this. Yeah, sure. So, um, the, the guys that are in business builder camp and the guys that I work with, um, day in and day out are, are typically like age 35 to 55, and that, you know, they're, they're a lot like um who my father was when I, when I met him. I tend to um go work with organizations where they're led by a hard charging entrepreneur who built the company um to a, to a certain size and And now it's like, uh, you know, how, how are we gonna get to the next step? How are we're gonna get to the next level, how we're gonna break through some of the feelings that we're experiencing and so often I'm helping people put systems and processes in place and then often I'm helping. Owners put in an executive leadership team and really start to step back and, and have people who are empowered and, and who, I, I would say it's, it's nice when a business owner can leave and everything's fine when they're gone for a couple of weeks, but it's even better when they leave for a few weeks and things are better when they come back and when they left. So I help a lot of business owners in that way and then business builder camp is just an extension because to your point, good to be surrounded by other people who are on the same path and we experimented with taking some of my one on one clients and getting them together for a live meet up and then we experimented with doing Zoom meetings with them. And found out that it, yeah, it really works to get people together in a peer group and this goes all the way back to like Think and Grow Rich and Napoleon Hill. It's a good idea to have probably way before that, that it's a good idea to have a mastermind group and and a group of advisors. So that's what we do, we do it, we do it in in an outdoor setting uh when we can and we like to pay attention to a well-rounded life, not just business growth, but we certainly come first and foremost for business growth. Now Wayne, I went to camp when I was a kid. And I loved it, you know, I mean, who hasn't, I don't know, maybe some people have gone to camp and didn't like it, but I loved it in the hills of North Carolina, you know, we did fishing, we did canoeing, all kinds of sports, all kinds of fun stuff. So the notion of having camp built into your, into your The title of your website and I've looked at your website. It looks like that's part of it is, you know, this isn't all the mind. I can't remember the exact saying, but I believe it was Peter Drucker who said that a relaxed mind is a lot more receptive to good ideas. Mm. Yeah, we get some of our best ideas in the shower or around a campfire, sitting out there at night. Yeah, yes indeed, that's for sure. So when you, when you put this together, what was, what was the idea behind it? I mean, was it, is it 50/50 fun and curriculum? Is it a lot of sharing? I mean, nowadays with COVID, it's probably very virtual, but tell us a little bit about what happens at a business builder camp. Yeah, so business builder camp is the, the camp is the group of uh male business owners that I have. And it's just, it so happens to be men because I'm a guy and we talk about being a dad, and we talk about being a good uh husband, and we do things where we're staying at small lodges, and it's, it's comfortable in that cohabitating type space. But, but normally it's this whole, it's this group of men that I have and that who are working together in an online platform. We've got a forum where they, they can work together. I just got off of a group call where we're talking about social media and the new movie, Social dilemma and what does it mean in our life for good and for bad. So it's, it's all those conversations and, and the, the mastermind group that meets, you know, in that sense, most, you know, when we're on Zoom, uh we, we take time to pause and, and reflect and take inventory on life, but certainly we're working in a, in a Zoom. Call like that when we're, when we're together live, you know, I always have an agenda and I have fixed times where we're going to work and we're going to be at a table with tablets and pens, not so much devices, we try to unplug from those things. So we'll go to a table and we'll, you know, work there from let's say 9 until noon on business and then really have a longer relaxed lunch where you, it's a lot of the magic to your point, happens when we're, we're more open, when we're more relaxed, we're having casual conversations. And those relationships matter. So it'll be part structured, but, you know, then there, there'll be plenty of time to sit and have a meal and break bread and then have a campfire, and I got a guy that likes to play mandolin, so when we do live events, it's, it's a mix in that way, but you're doing life together for that little period of time, and just like your camp in the hills in North Carolina, yeah, it's, it's the kind of thing where it's hard to put that in your schedule and put it in your calendar, but then after you do it, you never regret it. You always look back on upon. Now I've been a part of groups like that with with a small group of men all over the country for years. We call them study groups where we get together. We might play golf and then we have some business sessions and talk about things. And what I've found in those types of sessions is that oftentimes you're you're with a group of people if they're like-minded and they're business owners who you can share things that you typically nobody. To hear much about or you can't share at the office. There might be issues with your your business or your staff or just you're feeling lost or you need to, you need to find some direction. What do you think is is the the benefit of these things? And let me put it another way, what's missing in many people's lives these days that these types of get-togethers can fulfill? Well, I, I think we all could use a pause, we all could use a slowdown, we all could use, yeah, setting our devices aside. And, and sitting with a piece of big piece of paper and some pens and being, being open. So that's part of it. I also think that many of us are missing a connection with the outdoors and wood smoke and um stone and dirt, you know, terra firma. So that's part of what's missing. And then, I mean, you really hit it with your group, um. Just having other like-minded people to be in a shared space where I, I can talk about things, you know, and if, if we spend some time together, some of our um barriers come down, some of the shields that we put up to, to try to maintain a certain image or to look a certain way. When we spend a little bit of time together in the right kind of environment. And I, I, I really work hard on this as a facilitator. I work hard at getting people to drop the shield, be vulnerable. I do that, you know, I share maybe too much sometimes about what I'm thinking and what's happened and my fears and successes too. That's the other thing. It's good to share successes in a group of people where it's OK. Like there's, there's in business, it's good to be able to celebrate milestones. It's good to be able to celebrate uh handing out a bonus to people. And, and there's not many places where that, you know, is, is completely appropriate. Um, there's a coach I work, uh, that I have worked with who's helped me, Rich Lipman, who says it's not bragging if it's true. And so in that group of peers where we're vulnerable, I think that's that's missing a place where we can really be open and talk about the stuff in the dark corners and the bright corners of our mind. Yeah, that that's a good point, and it's, as they say in business, it can be lonely to be the owner of a of a business, small business, mid-size business where you're supposed to be on your game all the time and again you don't want to freak people out by saying, hey, things aren't going so well here at the business. You can't say that in the business. You have to have your game face on all the time. Um, and I think what we're seeing too, and tell me if, if you agree with this, is we're, we're, we have more private business owners than ever in the history of the world. Of course, let me, let me back that up. There was a time when everybody owned a business and they were called farmers, right? I mean, going way back, right? OK, so and then we've come out of this like building a business in this society is tough work and people are tired and a lot of people just want that like you said, that break and sometimes what they consider a vacation. Um for instance, a family vacation. Great to be with the family, great with everything, but you still have to be that that figure. You can't let your hair down. You still have to be the the in control adult in those vacations. So these kinds of trips are kind of good for the soul, aren't they? You're, you're, I'm in a relaxed state, just listening to you describe it right now, Bill. Yeah, well, that's it's because I've been there and I've experienced it, and I think, yeah, it's a shame that that people that that more people don't understand that really getting away and really taking some time there's a reason the word is recreation to recreate. Go ahead. Yeah, and I, and I think um and then the other thing to, to build on there is you talk about having an exit plan for 3 to 10 years down the road. One of the things we do when we come to camp and I. is, is probably missing for a lot of business owners is we literally take a big 120 day, we, we call it the 120 day plan sheet. So it's a, it's a, a drawing size sheet like you would use to build a house, because building a business, building the next piece, building the systems, and building the exit, as we talked about, and building what's it gonna look like when I get ready to sell it or. Transition it to the next gen or whatever the case may be. That's a process of building. And so when we go to camp, one of the things we do is talk about vision down the road. Talk about 3 years from now, we, uh, we'll do some little bit of woo woo, like let's close your eyes and breathe deep, and let's visualize what it's gonna be like when you're out there so you can get that clear in your head. And then start getting it down on paper and breaking it into chunks for these little pieces that I have to build. So it's both that um rest it and that resting spot and pausing, and then it's also planning for the next little piece ahead. And unfortunately, we're able to do that virtually now too. Where cameras on we can all be in our own spaces and we can have a big sheet of paper and we can be working on it together, but it's so much better to be in like a a lodge and I'm looking forward to that day where we can can do that again but yeah, planning and visualization and looking down the road is so important. Yeah, really, really good points, and you know, I think that the whole idea of the exit plan is important to a lot of people, maybe not at age 35, but certainly at age 55, a lot more people are saying. Hey, maybe, maybe we hear all the time, maybe 5 more years, maybe 10 more years, and then I want to be out of this. I want to walk away. I want to be financially sufficient to do what I've wanted to do for years or maybe do more of what I want to do. I want to play music. I want to teach a class. I want to take up hunting, fishing, artwork, whatever it happens to be as a serious hobby. I would say golf, but I don't think too many people can play golf every day and have sanity in their life. But it's interesting what you've hit on now. When you coach people individually, they don't have to come to camp, but you also coach people. Do you coach people all over the country and tell us a little bit about your coaching sessions, if you will. I do, um, yeah, I coach people over the country. I've got a client right now, you know, the one in Missouri, one in uh Colorado, one in, uh, Georgia. So, yeah, absolutely, we, we work remotely and we're working on helping them build their business intentionally, but also we're working on having some of what you talked about when you exit right now. Like, why wait? Um, I've got, I've got 4 children right now. I don't want to just build my business today and then exit and have time for them. I want to do it right now. So when I work with people one on one and in the group setting, we're building those plans for business looking down the road, but we're also using an old school tool called the Wheel of life to take a look at my life in different dimensions. And intentionally say, you know, how do I wanna rebalance that? What do I wanna create? What would I like to have in my life in terms of relationship with my spouse? So your form asked about a success story, and I, I was thinking of, I got a guy named Andy uh Richardson, and Andy owns uh in a structural design firm in South Carolina. And as we worked through Wheel of life, one of the things he realized was missing was spending more time with his spouse. So, He ended up putting a plan together. This isn't about business. This is about growing the business, but he put a plan together to talk with her. First step is talk with her. What might we like to do together? What could we do? We have a pile of kids, we've engaged with that. So they actually ended up getting into ballroom dancing, and I don't know if they're going to make it to Dancing with the Stars because I haven't had any structural engineer owners on there yet, but They got into a ballroom dancing intentionally. He intentionally created that, intentionally put the time in his calendar and, and made it happen, and, and so they've been a success, not only in the growth of his business, but also in life. So, yeah, those, those are things we talked about. What do you want to create, what do you want to make happen now and, and down the road when you exit, for sure. And isn't it interesting that when someone talks to someone who, you know, maybe was a complete stranger like yourself, maybe a complete stranger to them some time ago recently, and if by by you asking the right questions and helping them come up with the right answers that you can change lives that way, that's fantastic. It's one of the, it's uh it's what floats my boat. That's why I do what I do. Uh, it's, it's super rewarding to see people do things like that, smile just thinking about it. So Wayne, we've only got about 1 minute left, and I just wanted to make sure that we, we point people in the right direction here. It looks like the website is businessBuildercamp.com to find out all about the projects that you do, what might be upcoming and available, and to get in touch with you. Is that the best website for you? It is, and we put together a page which is businessBuildercamp.com/exitcoach for you and your listeners, and some of the tools I talked about are if they, you know, opt in for a series of videos, I share with them these PDFs that we use when we go to camp and they have videos of me talking about how we journal and what we do. They can apply for camp membership while they're there. And yeah, we're doing, we're actually doing a, a hog hunt in the spring, which I hope happens and the, you know, the mastermind is continuing, and that's, that's the best way to get a hold of me that forward slash exit coach off of my main website. Well, it's fantastic to talk with you, and I would love to hear, you know, I hope that you're able to go back to live events very, very soon. It sounds like those are just really fantastic, and I wish you all the best of luck and I really want to thank you for coming on and sharing your story with us today. It's been really fascinating. Thanks, thanks for having me and cheers to you and your work because as a, you know, like I said, as a family member of somebody who is able to intentionally exit, I think it's important work. So, uh, I appreciate you they're doing that in the world. Thank you for listening to Exit Coach Radio. This podcast is sponsored by TalkSpace. May is Mental Health Awareness Month, and TalkSpace, the leading virtual therapy provider, is telling everyone, let's face it, in therapy, by talking or texting with a supportive licensed therapist at TalkSpace, you can face whatever is holding you back, whether it's mental health symptoms, relationship drama, past trauma, bad habits, or another challenge that you need support to work through. It's easy to sign up. Just go to Talkspace.com and you'll be paired with a provider typically within 48 hours. And because you'll meet. Your therapist online, you don't have to take time off work or arrange childcare. You'll meet on your schedule. Plus, TalkSpace is in-network with most major insurers, and most insured members have a $0 co-pay. Make your mental health a priority and start today. If you're not covered by insurance, get $80 off your first month with TalkSpace when you go to Talkspace.com and enter promo code S space 80. That's SPA CE 80. To match with a licensed therapist today, go to Talkspace.com and enter promo code S80.