How to Safely Exit the Business WITHOUT Exiting! With Jason Duncan

Katie Richardson starts out this episode with her conviction that “You are going to want to stick around for this conversation!” Her guest, Jason Duncan, not only has an incredible rubble-to-riches story, but is also a fellow “accidental entrepreneur.” Jason’s goal was never to be a booming businessman; he just wanted to pursue his passion, which he found through trial and error in his pastor, teaching, and entrepreneurial positions. What he really found is that he enjoyed the presentation of helping others come to grips with new realities, and once he figured that out, it took off from there.

Today, Jason teaches us how to exit our business WITHOUT exiting, removing that lifestyle of a 70 hour workweek married to the superhero syndrome and instead replacing it with a sustainable lifestyle that allows for personal investment and family time. Tune in to his wisdom and witness his genuine personality as he shares with you the best advice he can give to entrepreneurs out there looking to make that leap.

3 Key Takeaways

• How Jason went from unemployed teacher to millionaire in one year.
• Why you need to consider that there’s an “option three” for your business.
• How the golden rule has set Jason up for a successful business life that’s centered around integrity.

Show Notes

[1:54] Jason shares his story

• Not liking his ministry
• Going back to school to become a teacher
  • Discovering his calling through teaching
  • Being let go during the great recession
• Pursuing a contract with the business he created
  • A multimillion-dollar contract with a hospital
  • Being hosted on entrepreneur shows and featured in meetings

[5:50] Things Jason wasn’t expecting to have to deal with 

• Not knowing what to expect as an accidental entrepreneur
  • Simply wanting to provide for his family
• Taxes! Not understanding that you have to put money aside for taxes

[8:55] How Jason figured out how to bring his passion for teaching into the business

• Loving the performance of teaching
• “I love the performance and standing in front of people and delivering messages in a way that is not just tooting my own horn…but it’s about getting them to make connections that they wouldn’t otherwise be able to make on their own.” -Jason Duncan
• Jason’s example of selling to “Sue” 

[12:43] The Moments where Jason realized he’s an entrepreneur

• Camping with his family for as long as he’s been able to 
  • Riding bikes to the end of the lake
  • “What do you do?” 

[15:55] Making good money and not having the freedom that he wanted

• Structuring the business incorrectly with a business partner
  • Their criminal exchange
• Taking seven years to realize working 70 hours a week is not his entrepreneurial goal
  • Figuring out how to exit
  • How do I get it to not need me for everything?

[19:40] Katie talks about “Option Three”

• Jason begins to teach others to change their thinking so the company doesn’t own them
• “When you exit your business, you go through an identity crisis. And so many entrepreneurs don’t know what to do.” -Jason Duncan
• Getting help from others to identify his unique knowledge of how he exited his business
  • The Exit Accelerator
  • The Exitor Club

[24:40] Common obstacles for entrepreneurs trying to exit

• The “hero syndrome”
• The ego that won’t allow you to delegate
  • “You’ve gotta survive the dip…You give the job to somebody else, there’s gonna be a dip in output…The person you delegate that task to will figure it out the same way you did, but they’re going to do it differently.” -Jason Duncan

[27:22] Seeing people who can’t jump the gap out of that hero syndrome

• How deciding not to exit can be selfish
• Jason shares his personal experience exiting his company
  • Not knowing what he’s exiting to
  • Getting over an identity crisis
• “I can now set up a business that you never enter. Forget exiting, I’ll set up a business I never enter, and I can make money.” -Jason Duncan
• Jason’s example of setting up an ecompany

[34:05] Looking back: the money Jason’s spent on the past and its mistakes

• The best money I could ever invest is in myself
• His number one piece of advice: You have to have a business coach and a bookkeeper
• The piece of wisdom: You better be careful when you bring on a business partner, and the least of those reasons should be because you have money
  • “There is only one person that I will be eternally committed to.” -Jason Duncan

[40:53] What Jason does consistently each day

• Being a rhythm person instead of a routine person
  • Doesn’t set an alarm
  • Prays immediately, puts on a robe and goes outside, drink his coffee

[42:12] A book that Jason keeps on his shelf

• Profit First by Mike Michalowicz

[42:18] Good, pivotal advice Jason has received

• Treat other people the way you want to be treated
• Be known for always acting with integrity

Connect with Jason Duncan

@therealjasonduncan on Instagram, LinkedIn, and YouTube

Website: exitwithoutexiting.com