Kris Oldland launched 1927 Media in 2013 and over ten years, built his primary brand Field Service News to be a global leader in the field, before disaster struck - and Kris was forced to sell the business - worth £2.6million at its peak - for £1,000.

In this powerful episode, Kris bears all and tells us:

💬 The key mistakes that he made leading to the collapse..

💬 The warning signs he ignored for years.

💬 Why it's important to separate you, from your business.

💬 The value of a business partner who is different to you.

💬 Why he views his experience as a "ten-year MBA" - and is determined to return stronger.

This episode of the Ambitious Lifestyle Business podcast (and the previous 112) is available wherever you listen to your podcasts.

Mick Walker has been making award-winning videos for major brands around the world for over 17 years. He's all about keeping video production simple and accessible – something he calls 'Video Made Simple.'.

In this episode, you will hear:

💬 Why Mick "never wanted to run a business".

💬 How "coming clean" about owning a lifestyle business changed everything.

💬 Why most businesses overcomplicate video.

💬 The importance of "starting with shite".

💬 Why video is the ULTIMATE evergreen asset.

This episode of the Ambitious Lifestyle Business podcast (and the 111 that preceded it) is available wherever you listen to your podcasts.

Austin Newberry is the owner and CEO of Logspan - a timber building manufacturer based in Scotland. Austin is a family man who says that he still struggles with work/life balance.

In this episode, you will hear:

💬 Austin's POWERFUL story about a childhood family holiday - and how it impacts his parenting style to this day.

💬 What it's like to take over a family business - and why it still doesn't feel like his business.

💬 The building blocks that ANYONE can use to get better at public speaking.

💬 Whether "Boardroom" (our 2024 Mastermind group) is as SCARY as we marketed it to be.

💬 How to create (and protect) BOUNDARIES between work and life.

This episode of the Ambitious Lifestyle Business podcast (and the 110 that preceded it) is available wherever you listen to your podcasts.

Husband and wife duo, Jon and Miriam run Mod A Mini, a BMW Mini performance parts ecommerce store and Torque Monkey, a physical garage in Chelmsford specialising in performance vehicles.

In this episode, you will hear:

💬 Why HATING cars was an ADVANTAGE when starting a car business

💬 How DIFFICULT the first few years were - and how much HARD WORK was needed.

💬 The importance of "leaving work at work" when working with a loved one.

💬 Why Jon and Miriam LEFT the One Percent Club (and then returned!)

💬 How working on Jon's HEALTH improved the BUSINESS too.

This episode of the Ambitious Lifestyle Business podcast (and the 109 that preceded it) is available wherever you listen to your podcasts.

Ambitious, lifestyle business owners can learn valuable lessons from Charlie Munger, the renowned investor and Vice Chairman of Berkshire Hathaway. Here are some key lessons:

1. Value of Continuous Learning: Munger is a strong advocate of lifelong learning. He believes in expanding one's knowledge across various disciplines, not just in your field of business. Business owners can benefit from this by constantly seeking new knowledge and perspectives that can help them make better decisions.

2. Importance of Mental Models: Munger emphasizes the use of mental models from multiple disciplines to solve complex problems. Business owners can apply this by integrating ideas and concepts from different areas to gain a more comprehensive view of their challenges and opportunities.

3. Inversion: Munger often uses inversion, a problem-solving technique, to think backward and identify potential pitfalls. Business owners can apply this by considering what not to do or what could go wrong in their business strategies.

4. Long-Term Perspective: Munger's investment philosophy is built on the idea of holding quality assets for the long term. Business owners can adopt this mindset by focusing on sustainable growth and avoiding short-term thinking that might compromise the long-term health of their businesses.

5. Rational Decision-Making: Munger promotes rationality in decision-making, emphasizing the importance of avoiding emotional reactions. Business owners can benefit from this by making well-thought-out decisions based on facts and analysis rather than emotions.

6. Competitive Advantage: Munger encourages business owners to build and maintain a competitive advantage. Whether through unique products, excellent customer service, or innovative processes, having a sustainable advantage can lead to long-term success.

7. Circle of Competence: Munger advises staying within one's circle of competence, focusing on what you understand well. Business owners should recognize their strengths and limitations and make decisions accordingly, seeking expert advice when needed.

8. Ethical Behavior: Munger values ethical behavior and integrity in business. Business owners can learn the importance of conducting business honestly, which builds trust with customers and partners.

9. Risk Management: Munger emphasizes the need to consider and manage risks. Business owners should conduct thorough risk assessments and implement strategies to mitigate potential threats to their businesses.

10. Patience and Discipline: Munger's investment success is partly attributed to his patience and discipline. Business owners can apply this by staying committed to their long-term goals and not being swayed by short-term fluctuations or pressures.

11. Adaptation: Munger recognizes the importance of adaptability. Business owners should be willing to adjust their strategies and embrace change when necessary to stay relevant and competitive.

12. Simplicity: Munger often advocates for simplicity in decision-making and business processes. Business owners can benefit from simplifying complex issues and strategies to make them more manageable and effective.

Overall, Charlie Munger's principles can guide ambitious business owners toward making informed, rational, and ethical decisions that promote long-term success and personal growth.

It's Chriiiiistmaaaaasss! We start this Christmas special episode by wishing Noddy Holder's Evergreen Asset (Merry Xmas Everybody) a happy 50th birthday.

We also dissect the rise of AI in 2023 (No, it's not coming for your job - but it IS going to change your job completely!), celebrate the return of in-person events, and explain how to listen to John's audiobooks for free.

We also end the year by looking at the boys' Books of the Year - including a "personality profiling" book that identified John as someone who is:

1. overly judgemental

2. has a lot of self-discipline

3. spends a lot of time thinking how to become a better person

4. likes routine

5. is really disappointed when other people don't do their part.

Yep, that sounds like John!

This episode of the Ambitious Lifestyle Business podcast (and the 107 that preceded it) is available wherever you listen to your podcasts.

Nicky Thomas is the founder of The Growth Community, a networking group that promises “Real Community Business Networking”, with relaxed, purposeful networking, and no membership sales pitches.

Nicky joined the One Percent Club 18 months ago, and as a result, grew her business by 75% in her first 12 months of membership. That huge level of growth doesn't come without a cost, however, and it's this cost that we talk about in today's episode - the price small business owners pay for growth.

This episode of the Ambitious Lifestyle Business podcast (together with another 106 episodes from the back catalogue) is available wherever you listen to your podcasts.