Welcome to a special episode of The Lindsey Anderson Show. In today’s episode, I’m joined by Mike Agugliaro, a former electrician turned entrepreneur, coach, and author. Mike scaled his home services business to $32 million per year and sold it to private equity. Now, through Food Dog Group, he helps entrepreneurs elevate their lives. In this conversation, we dive deep into business growth, scaling, and the mindset that often keeps entrepreneurs stuck where they are.
Guest Introduction
Mike Agugliaro is an entrepreneur, coach, and author who has built and sold multiple businesses, including scaling a home services company from under $1 million to $32 million. He is the founder of Food Dog Group, a coaching organization that helps service-based entrepreneurs scale. Over 20,000 people have been trained through his organization, learning the key principles to accelerate business growth and unlock success both in their business and personal lives.
Mindset First, Millions Second – Key Takeaways
- The Power of Mindset in Scaling: Business growth starts with your mindset, especially your relationship with money. Your relationship with money is crucial for scaling your business.
- Common Pitfalls in Business Scaling: It’s not just about marketing or operations; it’s about how you manage your beliefs and mindset.
- Practical Money Mindset Exercise: Use tools like your checkbook, credit card, and bank statements to reflect on your feelings towards money and shift to a healthier relationship.
- Scarcity vs. Abundance: Shifting from a scarcity mindset to an abundance mindset is essential for overcoming obstacles and scaling your business successfully.
- Redefining Beliefs: Changing your relationship with money and financial tools is key to unlocking business success and creating long-term growth.
The Power of Mindset
Mike shares his personal journey, from growing up with an entrepreneurial father to his transition from employee to business owner. He discusses the shift from a scarcity mindset to embracing abundance, and how mindset is a foundational part of business success. Embracing the right mindset is key when scaling your business.
Scaling Through Systems
Mike emphasizes the importance of mastering marketing, sales, operations, and systems. He scaled his business from working alone as an electrician to managing 200 employees and 165 vehicles. Success, Mike stresses, comes from mastering foundational systems tailored to your business, but it’s also important to recognize that every business is unique—there is no one-size-fits-all solution.
Step-by-Step: Fixing Your Relationship with Money
- Step 1: Lay out your financial tools—your checkbook, cash, credit cards—and ask yourself, “How does this feel?”
- Step 2: Embrace both the positives and negatives of money—how have those debts or credit cards helped you? Shift from seeing them as burdens to tools for success.
- Step 3: Neutralize negative emotions surrounding money and focus on long-term financial benefits that will help you scale your business sustainably.
Breaking Through Resistance
Mike talks about how personal resistance, like self-doubt or past failures, can be reframed as an opportunity to grow. By reframing resistance, you turn obstacles into stepping stones for business success.
Wisdom vs. Knowledge
Mike emphasizes that wisdom (experience) is what truly sets successful business owners apart in today’s world. In a world full of easily accessible information, wisdom builds authority and credibility. Mike shares an example of Dr. Phil, whose brand authority, combined with wisdom, has led to massive success.
Consuming Information at the Right Time
Mike highlights the importance of consuming relevant information at the right stage of your business growth. Don’t waste time reading books that don’t address your most immediate challenges. Focus on solving one problem at a time—once you’ve solved that challenge, move on.
Creating Your Own Path to Success
Mike stresses the importance of not blindly following trends or prescribed “success habits.” Trust your own journey, create your path, and find what works for you. Success is unique to each individual and business.
Key Quotes
- “Resistance is just an unutilized opportunity.”
- “The superpower is wisdom, and wisdom is experience.”
- “Don’t read a book from cover to cover if it doesn’t solve your most immediate problem.”
- “A journey of a thousand miles starts with the first right step, not just any step.”
- “Question everything. Find your path and stay true to what works for you.”
Resources Mentioned
- Mike website: https://mikeagugliaro.com
- Download Mike’s free guide: https://fudoggroup.com/ultimatedealflow
- Join my upcoming free LIVE workshop: https://www.LindseyA.com/workshop
