Episode 76: From Business Burnout to True Traction: An Entrepreneurial Roadmap for Scaling Your Greatest Investment

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Do you ever feel like your passion for entrepreneurship is leading you down a path of burnout?

In this episode, we take a trip into Ian Murray’s journey from young Canadian entrepreneur to successful, burned out business owner and the steps he took to help overcome this challenge. His experiences navigating long hours, health crises, and the importance of finding balance offer valuable insights for anyone struggling with the demands of entrepreneurship or their careers.

Hit play on your podcast player and sit back as you let Ian’s story resonate deeply with any entrepreneur, investor or corporate employee, where the pressure to constantly hustle often puts you on the fast track to exhaustion and burnout. By sharing his personal journey, Ian sheds light on the pitfalls of working on the wrong things in his business instead of prioritizing sustainable business practices that allow for scalability along with an overall more enjoyable professional-personal life balance. 

Get ready for some practical strategies for implementing the Entrepreneurial Operating System (EOS) from Gino Wickman’s book “Traction” to improve business efficiency, effectiveness and profitability. Whether you’re a seasoned Canadian entrepreneur or just starting out, this episode provides actionable advice for building a resilient business that thrives in the face of challenges.

What you’ll learn:

• Gain practical strategies for implementing the Entrepreneurial Operating System (EOS) to improve the efficiency of your Canadian incorporated business.
• Discover the importance of building a balanced team with complementary skills for sustainable business growth.
• Learn actionable tips for identifying and focusing on your strengths to maximize results and avoid entrepreneurial burnout.
• Tune in now to gain valuable insights and practical tips for navigating the challenges Canadian entrepreneurs commonly face to build a sustainable, successful business.

Put your phone in your pocket and start gaining valuable insights and practical tips for overcoming the common challenges of entrepreneurship in order to invest in your sustainable, successful business.

Resources:

• Reach out to Ian on his website or LinkedIn
• Read Traction and Rocket Fuel both by Gino Wickman
• Dig into our Ultimate Investment Book List
• Episode 45: Why Going 10x Is Easier Than 2x
• Episode 38: Clarifying Your Life’s Why So You Can Achieve Your Dream Lifestyle
• Episode 40: How to Work With Your Instincts and Not Against Them
• Book a Discovery Call with Kyle to review your corporate (or personal) wealth strategy to help you overcome your current struggle and take the next step in your Canadian Wealth Building Journey!
• Follow/Connect with us on social media for daily posts and conversations about business, finance, and investment on LinkedIn, Instagram, Facebook [Kyle’s Profile, Our Business Page], TikTok and TwitterX.  

Looking for a new mortgage, renewal, refinance, or HELOC? Reach out to Jon to share some options.

Let’s Connect For A Discovery Call!

Consider reaching out to Kyle if you’ve been…

• …taking a salary with a goal of stuffing RRSPs;
• …investing inside your corporation without a passive income tax minimization strategy;
• …letting a large sum of liquid assets sit in low interest earning savings accounts;
• …investing corporate dollars into GICs, dividend stocks/funds, or other investments attracting corporate passive income taxes at greater than 50%; or,
• …wondering whether your current corporate wealth management strategy is optimal for your specific situation.

By hopping on a discovery call with Kyle, he will review your specific personal and corporate financial situation in order to determine if there are some quick wins available for you to minimize taxes personally or corporately, provide ideas for how you can increase your personal cash flow, and ensure that the net worth of your estate continues to grow in tandem.

Watch Now!

Detailed Episode Summary 

Ian’s Journey to Overcoming Burnout in Business

Ian and Kyle discussed the challenges and lessons learned from Ian’s journey as a business owner. Ian shared how he started as an entrepreneur working long hours, eventually leading to burnout and a health crisis. He then joined a group called Strategic Coach to help him organize his personal and business life. He emphasized the importance of systems and processes in a business and shared his experience of almost 15 years in the industry. He also mentioned his role as an Eos implementer and a father of three. Kyle expressed his interest in understanding more about Ian’s journey and how it could be applied to others.

Entrepreneurship, EOS, and Team Dynamics

Ian and Kyle discussed the challenges and strategies of entrepreneurship, specifically in the context of growing and managing a successful insurance business. Ian shared his journey from starting his insurance company at age 23 to realizing the need for a more sustainable business model. He mentioned the implementation of the Entrepreneurial Operating System (EOS) to improve business efficiency and the importance of having a balanced team with complementary skills. They also discussed the concept of the Kolbe Test, which refers to the combination of different personality types in a team. Kyle emphasized the importance of understanding and leveraging these different types for effective business management.

Traction Implementation and EOS Journey

Kyle and Ian discussed their experiences with the book “Traction” and its implementation in their business. Ian shared how his wife and their team worked to implement the book’s principles, which led to a significant increase in their business. They also emphasized the importance of identifying and focusing on their core values and business niche. Ian shared his personal journey of becoming an EOS (Entrepreneurial Operating System) implementer to help other entrepreneurs with their businesses. Kyle expressed his appreciation for their discussion and the insights gained.

Entrepreneurship Challenges and Focusing on Strengths

Kyle and Ian discussed the challenges and insights of entrepreneurship. Kyle emphasized the struggle of balancing different aspects of a business, highlighting that some tasks could drain energy and take away from the entrepreneur’s original passion. They discussed the importance of understanding one’s unique abilities and focus on the 20% that contributes to the majority of results. Kyle also encouraged Ian to consider bringing in outside help to provide a fresh perspective. Ian agreed and was advised to share his experience and next steps with others in similar positions.

Discussing Eos System for Business Success

Ian and Kyle discussed the advantages of implementing the Eos system in running a business. Ian emphasized that the Eos system, which he found effective for his company after a two-year process, helps organizations align their people and processes towards a clear vision and common goals. They also highlighted the importance of setting specific goals, creating a positive work culture, and understanding the “why” behind their business decisions. Lastly, they suggested that for any business endeavor, having a system like Eos can greatly enhance focus and efficiency, and they recommended reading “Traction” by Ian and other books for further understanding.

Building a Saleable Business for Wealth Creation

Ian emphasized to the entrepreneurs in the group that the most effective way to accumulate wealth is by running a successful business. He underscored the importance of creating a system to ensure the business is efficient and appealing to potential buyers. Kyle concurred, adding that finding someone to offload work to is the first step in building a saleable business. He further stressed the importance of freeing up time to identify what’s working and what’s not, and eventually stepping back to let the business run seamlessly, aiming for passive income.

Business Journey, Tips, and Guidance

Kyle and Ian discussed the challenges and tips for starting a business journey, with Ian sharing his thoughts and experience as an Eos implementor. Ian encouraged listeners to read the book “Rocket Fuel” for a sense of calm and to understand their purpose as visionaries. He also offered his help and guidance to anyone, emphasizing the importance of a helping approach. The conversation concluded with Kyle expressing his appreciation for their relationship and encouraging listeners to reach out to Ian for his insights and assistance.

Transcript:

00:00:00:06 – 00:00:16:07
Ian Murray
At the end of the day, once of an entrepreneur. I think that once you’re an entrepreneur and you have that on your resumé, you’re essentially hirable after, right? You got to continue down the journey. But going all the way back to at the age of 23, starting off with this insurance company and coming into the space. My dad Do.

00:00:16:07 – 00:00:50:13
Kyle Pearce
You ever feel like your passion for entrepreneurship is leading you down a path to burnout? In this episode, we take a trip into Ian Murray’s journey from young Canadian entrepreneur to successful, burned out business owner and the steps he took to help overcome this challenge. His experiences navigating long hours, even health crises and the importance of finding balance offer valuable insights for anyone struggling with the demands of entrepreneurship or their careers.

00:00:50:15 – 00:01:26:13
Kyle Pearce
Hit play on your podcast player and sit back as you let Ian’s story resonate deeply with any entrepreneur, investor or corporate employee. Where the pressure to constantly hustle often puts you on the fast track to exhaustion and burnout. By sharing his personal journey, Ian’s going to shed light on the pitfalls of working on the wrong things in his business instead of prioritizing sustainable business practices that allow for scalability along with an overall, more enjoyable, professional personal life balance.

00:01:26:15 – 00:01:53:14
Kyle Pearce
Get ready for some practical strategies for implementing the entrepreneurial operating system, otherwise known as EOC from Geno Whitman’s book Traction to improve business efficiency, effectiveness and profitability. Whether you’re a seasoned Canadian entrepreneur or just starting out, this episode provides actionable advice for building a resilient business that thrives in the face of challenges.

00:01:53:16 – 00:02:07:06
Ian Murray
Here we go.

00:02:07:08 – 00:02:46:12
Kyle Pearce
Welcome to the Canadian Wealth Secrets Podcast with Kyle Pearce and Jon Orr. We are recovering high school mathematics teachers and education consultants whose entrepreneurial spirit led us to begin multiple businesses in real estate investing, digital courses and coaching and consulting after the bell rang at dismissal time. Fast forward a decade later where we’ve grown our portfolios and our time freedom to the point where we can now help entrepreneurs, business owners and investors grow their wealth into a legacy that lasts generations through hidden investment and tax secrets.

00:02:46:13 – 00:02:56:17
Kyle Pearce
Your financial advisors won’t believe are true. All right, my friends. Here it is with a good friend and colleague in Murray.

00:02:56:19 – 00:02:57:15
Ian Murray
Well, hey.

00:02:57:15 – 00:03:18:24
Kyle Pearce
Hey there, Mr. Anne Murray. It is awesome to have an opportunity to finally bring you on the show. Being a friend and a, I would say, business entrepreneurial colleague. I’m so excited to have you on the show. Do us a favor. Tell the Canadian Wild Secrets audience. Where are you coming from? And tell me a little bit about who is in Murray?

00:03:19:02 – 00:03:28:17
Ian Murray
Yeah. Hey, first off, thank you. This is really cool to really get to do this with you. We often we’re doing this at a Starbucks. Normally you and I shoot shooting the breeze, the.

00:03:28:17 – 00:03:30:08
Kyle Pearce
Kingsville, Starbucks.

00:03:30:11 – 00:03:53:14
Ian Murray
The kingsville, Starbucks. So this is great. I mean, obviously, we just set it right there. I’m from Kingsville. I am an entrepreneur. I began my entrepreneurial journey at a young age. I was 23 years old when I opened up my insurance company. And fast forward almost 15 years later, I still own that insurance company, but I’m also an iOS implementer.

00:03:53:20 – 00:04:19:20
Ian Murray
So just a big flash forward there and we can kind of get deeper on how we ended up down that journey. But that’s kind of the brief summary On a personal side of things. I got an unbelievable wife. Her name is Cara, and she keeps everything together in our lives, quite literally. My absolute better path, if you ask anybody and we’ve got three unbelievable children, we actually have triplets.

00:04:19:20 – 00:04:27:00
Ian Murray
They are seven years old, Camden, McKenna and Sawyer, and they’re doing awesome. And they are. They’re my world, man.

00:04:27:02 – 00:04:55:12
Kyle Pearce
I love it. I love it. There’s so much to dig into here. I know so much about you, but I want to make sure I don’t leave anything behind. So I want to roll all the way back. Because where you are now and where you were are two very different places. I’d like to think that myself and John, who isn’t with us right now on this particular episode that we’ve been through, I’ll call it a similar transformation, but I feel like you’re probably a little further ahead in that you are now helping others to do the same.

00:04:55:12 – 00:05:14:17
Kyle Pearce
Meaning you were an entrepreneur and you’re still an entrepreneur. I think once an entrepreneur, you’re always an entrepreneur, and now you’ve actually it sounds to me like you’ve not only grown a successful business in the insurance space, but you also managed over time and through, I’m sure, a lot of learning, probably a lot of failure along the way.

00:05:14:19 – 00:05:39:18
Kyle Pearce
You’ve now been able to actually step outside your business and have a successfully running business without necessarily you there to start all the fires put out. All the fires deal with the fires, do all of those details, which I think many people who are listening, that is where things happen. That’s what entrepreneurial life is, especially early in the journey is doing, doing, doing, doing.

00:05:39:23 – 00:06:03:12
Kyle Pearce
But the problem is, is that for so many people, we sort of get stuck in that habit and we’re almost unable to find a way in order to replace ourselves. We end up working in the business instead of working on the business. So how did that work for you? What sort of got you along this path to actually maybe even recognize that, hey, maybe I could somehow systematize this?

00:06:03:14 – 00:06:19:02
Kyle Pearce
So tell us a little bit about that journey, because I don’t think people realize it’s happening. Did you have a moment? Was there some place in your journey where something like clicked for you, where you went, Oh my gosh, I’m just working a job for myself. Instead of actually owning a business?

00:06:19:05 – 00:06:24:08
Ian Murray
Yeah, 100%. I mean, I want to take a bit of a laugh at starting fires in the business.

00:06:24:10 – 00:06:29:23
Kyle Pearce
Yeah, I know. That’s you. And that’s me, too, right? It’s ideas, ideas, ideas.

00:06:30:00 – 00:06:49:23
Ian Murray
Ideas, ideas, ideas. And at the end of the day, once an entrepreneur, I think that once you’re an entrepreneur and you have that on your resumé, you’re essentially on hirable after, right? You got to continue down the journey. But going all the way back to at the age of 23, starting off with this insurance company and coming into this space, my dad is still in insurance and wasn’t insurance.

00:06:50:00 – 00:07:12:03
Ian Murray
He was actually one of the youngest at that point time. State Farm agents. I think he started at State Farm Agency at the age 18. So starting at age 23, just seemed like a very, very logical choice. But I’m going to be really honest with you. I mean, we had a lot of outward success with that agency in terms of great client experience and writing a lot of business and bringing people on board.

00:07:12:03 – 00:07:32:22
Ian Murray
And I just had this vision of changing the way people could perceive insurance and this vision of dealing with an insurance company in a different way. And I would always go to these conferences, right? And I get all these ideas and I’d come back to my office with just an absolute ton of energy and like, all right, we’re going to change everything.

00:07:32:22 – 00:07:48:22
Ian Murray
We’re going to do this whole different thing. And my team would just bury their heads in the sand. It became this. It wasn’t even a behind my back joke. They would literally say to me, If we just stay quiet long enough, eons are going to forget everything that you just said. He’s going to move on to something else.

00:07:48:24 – 00:08:15:19
Ian Murray
But it really frustrated me, and I found it really, really difficult to try to replicate how I would handle clients. And that becomes so hard when you want to scale your business and you have these big visions of where you want to go. Being unable to replicate your success, you can’t go anywhere and also tell me that it’s really tough to replicate your success when you’re still the one doing the successful things to keep that business going.

00:08:15:22 – 00:08:32:07
Ian Murray
So, I mean, I looked everywhere, honestly. I would look everywhere. I would listen to anybody, how can I do things better? And everyone would say, Hey, put in more time, show them the way. A great leader gets down into the trenches. They’re doing the work day in and day out. So I did, right?

00:08:32:13 – 00:08:36:20
Kyle Pearce
Yeah. And you’re like, Check, check, check. I’m already doing all this stuff, but there’s got to be more.

00:08:36:22 – 00:09:07:08
Ian Murray
Maybe I can do more of it. So I kept doing that. It was to the point where I’m doing insurance quotes at 7:00 at night on a Sunday because everybody had my text message, phone number, and this becomes unsustainable, right? You can’t build a great business if you don’t have a great team. And I’m not saying that I didn’t have great people that were in the office, but at the end of the day, you got to have the systems and the processes and you’ve got to have that vision articulated to everybody to get it to work.

00:09:07:10 – 00:09:29:16
Ian Murray
So I was burning out and eventually I ended up with a health crisis. I ended up with gastritis and it was to the point where every single time I thought about the business, my stomach would light on fire. And your business owner, I’m not thinking about your business so difficult, but it just rendered being next to useless in the business.

00:09:29:18 – 00:09:49:08
Ian Murray
And then we had triplets and being a dad to three kids. I mean, there was a lot of time because being a business owner, I could be home and I was home, but my mind was not there. I’m somewhere else. I’m still checking my emails, I’m feeding the baby, I’m still doing things. I was not present. Go a little bit even more forward.

00:09:49:08 – 00:09:55:02
Ian Murray
The kids are two years old and you’re coming home and you’re frustrated that a two year old or two man.

00:09:55:05 – 00:10:19:23
Kyle Pearce
Yeah, well, what’s interesting about this is I think a lot of people who are business owners listening, maybe even some people that we know that while we focus this show on entrepreneurship, on businesses, on those with corporate structures and investors, the reality is we have a lot of folks who are working a career, a T for a job, but they run into some of the same issues as well, right.

00:10:19:23 – 00:10:38:22
Kyle Pearce
Where it seems like they just can’t disconnect from that part of their world. And what I’m hearing from you and maybe you recognize this, maybe not, but it’s almost like the universe sent you a couple signs and it was like, is you going to pick up on this? Like here we’re going to hurt him with his health. And they’re like, is he going to pick up on it?

00:10:38:22 – 00:10:57:09
Kyle Pearce
And you’re like, Something’s not going on, right? And then they’re like, okay, that didn’t work. Okay, now you get triplets. You don’t just get one child, you’re going to get three, and this is going to get you to wising up and try to figure out that, hey, and you said it and I wrote it down here is this idea that it’s just unsustainable.

00:10:57:09 – 00:11:18:21
Kyle Pearce
Right? When we think about a business, typically people aren’t thinking and the reality is so the vast majority of business owners ultimately just created a career for themselves that they now take on all the risk. So it’s like you took on instead of being a T for employee for someone else, you now took on all of the risk, but you’re still working like you did as at t for employees.

00:11:18:21 – 00:11:42:12
Kyle Pearce
When you want to get into a business, what you’re after is you’re obviously after for freedom, but you’re also thinking scalability, right? Like you’re thinking like, there’s got to be a way that I could do this so that it’s not going to all be me. Otherwise why would I sign up for this thing? But as you mentioned, you get so stuck in it and the time vapor like it just vanishes on you, right?

00:11:42:12 – 00:11:52:10
Kyle Pearce
Time just goes by and there’s just things piling up, piling up, and you just kind of lose focus. So what happened next in this journey? Yeah.

00:11:52:12 – 00:12:16:15
Ian Murray
This is sold to everybody, right? This entrepreneurial dream of, again, you’re an employee, but now you’re going to have this freedom and you can do what you want. But then there’s there’s nothing there. I mean, in school or no one hands you anything. I mean, there’s there’s books like The E-Myth that to help you speak to this, to go, Hey, wait a minute, should I really be an entrepreneur or a solopreneur?

00:12:16:17 – 00:12:39:22
Ian Murray
You get to a point where, again, you talk about that burnout rate, and that’s where I was at. And I was really desperately trying to find that solution. I joined this group called Strategic Coach out of Toronto. So Dan Sullivan, lifelong entrepreneur as well, creates a lot of systems for entrepreneurs to help organize their personal lives and their professional lives so they can maximize their energy.

00:12:39:24 – 00:13:03:22
Ian Murray
And I was complaining about all of these issues I had in my office, whether it’s team and people not doing the things that I want them to do, the vision not being executed, I don’t have enough time. There’s no processes. I mean, honestly, my business, it’s the only way I can picture business. Felt like it was a vehicle hurtling down the road at 80 miles an hour.

00:13:03:24 – 00:13:22:12
Ian Murray
Doors are flying off, the windows are open. I’m running behind it, trying to grab on to it. Somebody else is driving the vehicle. I’m trying to put things back on as it is going. It was out of control. And I’m complaining about this. And this cherry farmer from northern Michigan says, you’ve got to read the book Traction. Me.

00:13:22:14 – 00:13:45:16
Ian Murray
No, no, no, no, no. You don’t understand. I have all these issues. He’s like, Hey, Ian, just please read the book Traction. So I bought it on Audible. I popped into my headphones. I listen to it on the way home from trial and Kyle, my mind was falling. I knew that all of this stuff, there were so many nuggets in there that were just unbelievable.

00:13:45:18 – 00:14:12:13
Ian Murray
I knew that was what I wanted, right? I was like, This has all the information in it. So then I began trying to, in desperation, trying to implement us. So US tends to the entrepreneurial operating system. It is really just a set of practical tools and timeless principles to effectively run your business, right? It’s simple, but it’s not easy.

00:14:12:15 – 00:14:31:21
Ian Murray
So I’m trying to do this by myself. And I mean, listen, I’m a strategic coach person. I got my Colby. My follow through is not great. I love shiny things and chasing them. This one really seemed to stick with me, but I just couldn’t seem to get it done. I finally convinced my wife to come on board and to really try to get this thing to take off.

00:14:32:02 – 00:14:54:10
Ian Murray
I handed her the worst just pile. I was like, Hey, you don’t know anything about insurance. You’ve never run a business. You haven’t been in leadership. But I get all the great things you have. You have the bones to do this. Here it is. And she went, okay. And I mean, we joke about it now, but what a horrendous thing to do to somebody.

00:14:54:12 – 00:15:08:07
Kyle Pearce
I have so many thoughts here. I want to work backwards. So I need to know what is your Colby number and then what is your wife’s? You don’t have to maybe you don’t know the exact numbers, but are you opposites? Is that what’s going on here?

00:15:08:07 – 00:15:14:14
Ian Murray
So I am a5483.

00:15:14:16 – 00:15:15:03
Kyle Pearce
Got it.

00:15:15:06 – 00:15:20:09
Ian Murray
And she is like in 8833.

00:15:20:11 – 00:15:23:14
Kyle Pearce
8833. I like it. That’s interesting.

00:15:23:16 – 00:15:28:12
Ian Murray
Maybe 67733. But anyway she’s Yeah. You get stuff done right.

00:15:28:14 – 00:15:51:10
Kyle Pearce
I love it. I love it. I am in 8373 and John is almost so my business partner John who again he’s going to be incredibly disappointed that we got double booked somehow in our calendar system, which I’ll blame on him because he’s our implementer, by the way. So that’s a him issue, not a me issue, but I’m an 8373 and he’s almost the exact opposite.

00:15:51:10 – 00:16:20:14
Kyle Pearce
So we complement each other really well. And that’s why I was asking, like when you handed all that over and I see that there’s some variance there. Yeah. Specifically in the follow through section and the Quickstart area and fact finder rate. So her and I are very similar in that we love to go down this rabbit hole. And for those who are listening, if you haven’t already listened to the episode, we actually unpack the Colby and we do a whole episode on what drives you and you learn so much about yourself.

00:16:20:14 – 00:16:48:01
Kyle Pearce
And I think there’s people on your team that are either exactly like you, which are probably not that helpful to you on your team. But then there’s people who are the opposite or have something else that maybe you don’t have, and because you don’t think like them, it’s hard for you to understand and what would actually suit them well or what would actually drive them to do something maybe more effectively, more efficiently, or put more effort into it.

00:16:48:03 – 00:17:06:00
Kyle Pearce
So it sounds like that’s happened. And then I got to say, Tractions, one of John’s favorite books. I’ve read it, but I have the low follow through, so I need like John to implement everything behind me. But I love it. I love it. So your wife is now kind of dragged in here. Did you bring her on the U.S. journey, too?

00:17:06:00 – 00:17:13:17
Kyle Pearce
Like, was she, like, on board or were you kind of going like, I’m going to just try to make this happen and then see where it goes?

00:17:13:17 – 00:17:18:22
Ian Murray
No, I mean, listen, she read the book Traction, and I literally handed it to her and I said, You just need to implement this.

00:17:18:24 – 00:17:20:24
Kyle Pearce
Yeah. Nothing big. Yeah, no big deal.

00:17:20:24 – 00:17:39:05
Ian Murray
What a thing to say. You just need to implement this entire book. So I handled that. You’re. She read it. She’s like, Yes, you’re writing. This is what we need. This is what’s going to transition us from where we are to where we want to go. And we really tried to work through that over the course of two or three years.

00:17:39:07 – 00:18:07:15
Ian Murray
Ultimately, we decided, Hey, this is taking a lot longer to really get this thing to take off. And we hired an implementer actually help us implement this into our business. And that’s honestly, John, it’s where it took off. We like ten times the business when we decided to implement iOS into our business. But I’m going to be honestly, more importantly, we really determined who we were at our for.

00:18:07:17 – 00:18:26:16
Ian Murray
And what I mean by that, we really determined what our core values were, the people that we want to just round ourselves with inside of the organization. We became crystal clear on our core focus because I’m prone to chasing shiny things. I mean, at one point in time I was a financial planner and I was very passionate about that.

00:18:26:16 – 00:18:51:11
Ian Murray
And I think, listen, I still love financial planning and I love great financial planners. I think the thing that I loved about financial planning was helping people. I love that feeling of sitting down with someone and really teaching them and getting them better with their finances and getting into a place. But again, when you’re trying to implement that into an insurance office, you’re doing two different things, right?

00:18:51:13 – 00:19:31:05
Ian Murray
Which made it really, really difficult inside the business. So we really honed in on our core focus. We got great at what we were great at and honestly, we developed a leadership team. We really made sure we had the right people on board and the business is absolutely it’s taken off. So to the point where I mean that the business run, I am intricately involved in the business, but not in the day to day client interactions because I’m busy building the business for the long haul and ensuring it’s going to be there for the long haul and really creating that vision and coming up with the great ideas and probably a lot of not so

00:19:31:05 – 00:19:33:09
Ian Murray
great ideas. Yeah, but can.

00:19:33:12 – 00:19:34:08
Kyle Pearce
We do that yet?

00:19:34:11 – 00:19:54:01
Ian Murray
There helps to filter those out. But in that journey I’ve never had something stick with me so long. So I know you like to chase shiny things like me, right? This is the shiny thing that stuck with me and I was so passionate about it. I just love reading about it and loving it. And finally I was like, You know what?

00:19:54:03 – 00:20:20:02
Ian Murray
This is what I want to do. I love business. I have so much empathy for business owners because of what I have gone through as an entrepreneur, and I love helping people and I love website. And it was a just a great way for me to meld all of those things together. And that’s where I decided I’m going to becoming a U.S. implementer and spend my days helping out other entrepreneurs just like myself, get more of what they want from their business.

00:20:20:04 – 00:20:51:21
Kyle Pearce
I love it. There’s so many things here that I think are really important to kind of highlight. So first off, you spent a lot of time like you were clearly searching. You were searching for a solution here. And what I think is hard when you’re an entrepreneur, you have an entrepreneurial spirit. You want to grow a business. But because in the early goings and sometimes forever, for some business owners, you’re in every aspect of the business and there’s always going to be certain parts.

00:20:51:21 – 00:21:12:07
Kyle Pearce
This is where the Colby kind of lands with me. It’s like there’s going to be parts of that business that are going to work against. It’s going to require that certain things happen in a certain way that are going to actually counter to what you’re driven to do. And it sucks energy not only from that area, but it also sucks energy out of the things that you actually really did like.

00:21:12:07 – 00:21:35:23
Kyle Pearce
So it’s almost like you used to love this part, but then this part’s actually taking away from both of us, draining both. And I think what I’m hearing from you is that you’ve been on a journey to kind of really almost better understand who you are right now on a personal level, but also a professional level, because I’m sure at the onset you’re like, yes, a business owner, I want to do that.

00:21:35:23 – 00:21:52:22
Kyle Pearce
And there was probably certain parts of the insurance business that you loved. You loved helping people, right? I’m very similar. I love having these sorts of interactions. I love that part. You know what I really hate? I hate doing the follow up stuff. Like, I hate doing like, I’m like, we already discussed it. I’m like, I wish it just happened.

00:21:52:24 – 00:22:14:10
Kyle Pearce
And that’s where this part fits in and the part that’s interesting as well. You mentioned Dan Sullivan, and it’s almost like some of his work that’s really impacted me and I’m sure you’d agree for yourself is really helping yourself to figure out what is your unique ability and then what is the thing that is going to be you can call it the 8020 rule.

00:22:14:10 – 00:22:45:18
Kyle Pearce
What’s the 20% for you? Not just your business, but also you individually. That’s going to allow you to. And one of his latest book, C ten X is easier than two X, right? It’s like what’s going to allow you to ten acts And you said it that you guys ten next after doing this type of work. Yeah. And then the last part I want to kind of tee up for you here to kind of continue on this journey is that you did it alone for a number of years and then finally decided let’s bring someone else on.

00:22:45:20 – 00:23:22:02
Kyle Pearce
And I think sometimes as entrepreneurs, it can be hard. It can be difficult to go, I want someone else to come in here to assist. And it’s almost like we have a bit of an ego issue or a vulnerability issue where it’s sort of like, Well, I want to do it on my own. I’m an entrepreneur. But in reality, when you bring in that outside voice, that person that is not in the business with you and they can just ask you the right questions to get you to almost I’m guessing that they probably got you to come to recognize some of the things they probably saw from the outside, but you couldn’t see while you

00:23:22:02 – 00:23:42:15
Kyle Pearce
were in there after you hired that implementer, What did that look like? Like was it a quick change? Did you notice almost immediately that you’re like, oh my gosh, the quote unquote, traction is actually starting to take form here? Tell me about that and then tell me a little bit about what do you recommend to those people listening who are like, That’s me.

00:23:42:16 – 00:23:47:07
Kyle Pearce
That’s me. Oh, my gosh, I hear myself. And what should I do next?

00:23:47:07 – 00:24:12:20
Ian Murray
Yeah. So let’s start there. What should I do? So I’m not saying to use words. I want to be really crystal clear. It’s a phenomenal system. If it’s right for you, fantastic. But I just highly encourage everybody, you got to run your business on some sort of a system. We did a lot of research kind of going back and talking, trying to find a cure for this, already reading a lot of books.

00:24:12:22 – 00:24:38:17
Ian Murray
What spoke to me the most about us was just the fact that there were so many parts of other business books, whether it’s good to great or whether it’s, you know, the Patrick ones, the only books or whether it’s the E-Myth, it really brought everything together because at the end of the day, your business is interconnected. Just coming up with processes is not going to cure your business right?

00:24:38:19 – 00:25:12:15
Ian Murray
There’s so many interconnected parts. So I just encourage everyone find a system to run on some sort of a system. But yeah, when we brought the US implementer in, it took roughly two years to really gain the traction that we needed. And the reason why is it’s a space learning approach like you cannot change your business tomorrow. I mean, we say when we do 90 minute meetings with clients, there are no silver bullets, there are no magic pills because there aren’t.

00:25:12:17 – 00:25:19:18
Ian Murray
You’re not all of a sudden go slap a we run iOS sticker on our door and all of a sudden your business starts running better. It doesn’t work that way.

00:25:19:20 – 00:25:36:24
Kyle Pearce
Or hire in or any other implementer. And you’re going to come in and you’re going to fix it, and we’re going to sit back and we’re going to watch it all happen. Right? It’s more or less it’s like you’re signing up to do the work and someone’s just going to make sure that you do the work in the most effective, efficient way possible.

00:25:37:01 – 00:26:00:03
Ian Murray
And the other thing, too, is, is that as an example, I already know that the talent is in the room already. The leadership team has the knowledge. They know the business. As an US implementer, I’m not going to walk into a business and tell you how to run your business in terms of knowing the intricate details of an engineering company provided.

00:26:00:06 – 00:26:11:22
Ian Murray
I don’t know anything about engineering or I have construction company. I am quite literally the least handy person in the entire world swinging a hammer. I can’t do it.

00:26:11:24 – 00:26:17:22
Kyle Pearce
Yeah, Yeah. You know, like, that’s why you’re not doing well in construction. You got that brand excavator instead of that, right?

00:26:17:23 – 00:26:18:18
Ian Murray
That’s not it.

00:26:18:18 – 00:26:19:10
Kyle Pearce
That’s not it.

00:26:19:10 – 00:26:44:21
Ian Murray
And my goal is to teach coach and facilitate that leadership team. And that’s what he did for us right? He taught the ecosystem. He taught us the right cadence to implement it. He asked us really great questions as he helped us really uncover what our core focus is, because one of the things was to be the biggest insurance agency.

00:26:44:21 – 00:26:46:07
Ian Murray
At one point in time.

00:26:46:09 – 00:26:54:09
Kyle Pearce
It’s an easy goal to create, right? You’re just like, Yeah, like we’re just going to bring in $1 billion, you know, like we can set these random sort of goals, right?

00:26:54:09 – 00:27:17:00
Ian Murray
And that didn’t speak to us. And finally he asked the tough question in the room and said, Is that what gets you up in the morning? When you get up in the morning? Are you like, hey, I want to be the biggest No, not at all. And we ended up turning our entire passion into creating a winning culture that fosters health, wealth, time and purpose for our team members.

00:27:17:02 – 00:27:44:19
Ian Murray
We can tell you how we changed that when we really got to the heart of why we wake up every morning and do what we do. Man, that changed a lot of stuff for us. And every single time we make a decision in the business, we put that filter on and it just helped. Having somebody else there, like you said, to ask those questions probe a little bit deeper, but also to help explain the ecosystem a little bit better.

00:27:44:21 – 00:27:53:22
Ian Murray
It’s all in the book Traction, but there are some intricacies in the ways that you should do it that really, really allowed us to get the traction that we needed.

00:27:53:24 – 00:28:16:18
Kyle Pearce
Well, what I’m hearing as like some next steps for those who are listening, if this intrigues you and if you’re listening and you have any sort of business, any sort of I always say investors, investor, when you’re doing investments, especially active investments, that’s a business as well. And ultimately, if you’re in any stage here at minimum, listening to the book is important.

00:28:16:18 – 00:28:50:01
Kyle Pearce
And of course, like anything, I always go to the health scenario, right? I mean, there really is no need in the world for a personal trainer to essentially tell you what you need to do. It’s like exercise more, eat less. And basically that’s the equation. That part is not really the issue. I’m going to guess that having that implementer there is going to be really about the accountability, really about getting you think and almost like flashing a light on some of these blind spots that have always been there.

00:28:50:01 – 00:29:08:15
Kyle Pearce
But you just haven’t noticed, you haven’t thought about and just being able to have that additional support to guide you along. And I’m going to guess that again, anyone can do this type of work on their own. But if I do anything in this world alone, it’s probably going to take me longer than if I do it with another.

00:29:08:21 – 00:29:33:23
Kyle Pearce
And when I add more people to the team, it’s going to be less and less time. If we’re doing it with some sort of system, as you’ve articulated, right. If we just pile more people in and no one knows what the core focus is or what what we like to call the objectives and the key results inside of the organization, it really just becomes a bunch of people kind of pushing puzzle pieces and all these aimless directions.

00:29:33:23 – 00:29:42:20
Kyle Pearce
We always say it’s like, Hey, you might be pushing a great puzzle piece, but if you don’t know what the puzzle should look like when it’s all done, then you’re just pushing a puzzle piece around.

00:29:42:22 – 00:30:05:11
Ian Murray
And you brought up such a great point there. It’s people. People make the business around, right? So at the end of the day, iOS is just a way of harmonizing and systematizing the moving parts of that business. It’s managing the human energy of the office or of any organization. So you’ve got to get people on the same page with that vision.

00:30:05:11 – 00:30:26:14
Ian Murray
You got to see that what the end puzzle is going to look like. You got to get people rolling in the same direction on the same plan, going towards the exact same point. That’s when the magic happens, right? And then iOS basically just uses a bunch of different tools to help make sure that that is working all together.

00:30:26:16 – 00:30:30:06
Ian Murray
And they just call it strength in the six key components of the business.

00:30:30:08 – 00:30:49:17
Kyle Pearce
I love it. I love it. I’m hearing some obvious next steps for the listeners. In the audience are number one. First and foremost, read Traction. Or if you’re like me, listen to Traction. I think in I think you’re the same audio Booker And then the next step after that is probably Do it Again. I’ve listened to it multiple times.

00:30:49:17 – 00:31:10:21
Kyle Pearce
I know John Reed listens to it quite often, so that would probably be a first step for anyone that’s listening. We have our book list over at Canadian Wealth Secrets dot com forge slash books for anyone listening Traction is there. We also have some other amazing books, including some of Dan Sullivan’s books that you had reference some of his work.

00:31:10:23 – 00:31:32:05
Kyle Pearce
But I want to flip to you here as we come up to the end of this episode here. And you shared so many ideas through your own story, and I’m envisioning that everyone listening can at least see themselves at some point in that journey. They might be at a different step right now, but somewhere along that journey they saw themselves in your position.

00:31:32:07 – 00:31:50:16
Kyle Pearce
My wonder for you is what would you say is your Canadian wealth secret sauce for today’s episode that you want people to kind of walk away with and you want to resonate with them as they walk away from this interview with Ian Murray, who is officially an EOC implementer now?

00:31:50:18 – 00:32:09:09
Ian Murray
Yeah, I mean, as with probably everything that I do, as I kind of get talking a bit too much, I don’t necessarily have one secret. So let me give you a couple here. Number one is we’ve talked about this a lot today is that there’s stuff that you’re really great at and then there’s stuff that you’re not necessarily that great at.

00:32:09:11 – 00:32:42:04
Ian Murray
Find a planner from a wealth management perspective as a formal financial planner and someone do that stuff for you, it’s like having a fitness coach. It’s like having an EOC implementer offload that to somebody, right? That’s so, so important. The second thing that I’m also going to say about that, and I speak directly to the entrepreneurs in your group, is that the biggest wealth accumulation method that you have is your business.

00:32:42:04 – 00:33:21:12
Ian Murray
And I’m not talking about from an investment standpoint or anything crazy that way. If you run a truly great business, number one, your income increases. But number two, you have an unbelievable asset to sell. And the better that it’s run, the higher the value it is for. When you go to sell it. So putting your time and effort into running a truly great entrepreneurial company that is enormous for your wealth.

00:33:21:12 – 00:33:38:13
Ian Murray
And like I said, the keys are running on a system. It doesn’t have to be us, but you’ve got to find a system to run it on because you have to make it efficient and you have to ensure that the next person that’s going to buy it from, you can see all of those things in place to increase its value.

00:33:38:15 – 00:34:18:03
Kyle Pearce
The vast majority of business owners, the statistics say, end up just when they stop the business stops. And that speaks to exactly what you’re saying. That’s a massive you’re saying multiple, you know, multiple secret sauce ideas here. But ultimately one leads into the other because the first when you had mentioned about finding someone to offload work to, that’s the first step in getting towards building that scalable business because at the end, if Ian steps out of the business, if I step out of the business, John steps out of the business and there is no business, then you have nothing to sell.

00:34:18:05 – 00:34:53:02
Kyle Pearce
So by starting somewhere, what I’m hearing from you is I start somewhere to figure out who is that person, that next thing in my quote unquote system that I’m going to start implementing here, get that happening. And as you do more of that, you’re going to not only free up more of your time to now see what’s working and what’s not and be able to do those tweaks, But you’re ultimately going to get to a place where you can take one step back, two steps back, all the way to getting all the way out of the business and being able to see this thing truly run.

00:34:53:02 – 00:35:17:06
Kyle Pearce
And when you think about that, when I’m in the business doing all work, I may have a decent income, but what you really want is that passive income, right? We want this thing to run without us. And it sounds like today we’ve got a ton, a ton of great tips for people to either get started on that journey or to help nudge them along that journey because it’s not easy, as you’re saying.

00:35:17:08 – 00:35:28:04
Kyle Pearce
I really appreciate those final thoughts here. And for those who want to learn more about you, Ian Murray, and the work that you do as an EOC implementer, where can they find you?

00:35:28:05 – 00:35:53:00
Ian Murray
Yeah, I mean, if you look me up on LinkedIn, Emery and EOC implementer there, you can visit my website, US worldwide dot com slash and dash. Murray But at the end of the day, one just final thought on the way out. I mean, you and I are in the EOC world. We’re considered visionaries, right? Big ideas people 30,000 foot view don’t really love getting down in the trenches.

00:35:53:00 – 00:36:14:07
Ian Murray
I mean, maybe our follow through is not necessarily there. I would highly encourage you guys who are also visionaries, where you have all these ideas in your business. Do you feel like a failure because you just can’t see it through? I would highly encourage you to read the book Rocket Fuel, and I don’t know if you have that up on your list of books to read, but I will tell you.

00:36:14:12 – 00:36:15:06
Kyle Pearce
Sure do.

00:36:15:12 – 00:36:28:08
Ian Murray
It just gave me a sense of calm and I would like to offer that to my fellow visionaries out there. Give me that sense of calm. You do serve a purpose. You just got to find that missing puzzle piece.

00:36:28:10 – 00:36:52:09
Kyle Pearce
I love it. I love it. Rocket Fuel is the book that helped John and I understood and why we are the way we are. And luckily, I think part of the Kolbe number thing, it was like, luckily I’m going to say the universe sort of allowed us to somehow come together to do some of this work together. But it just made sense when John’s like, Here goes Kyle again.

00:36:52:09 – 00:37:09:16
Kyle Pearce
You know, John would be the same as the people on your team where they’re going. Here’s Kyle with another idea, and John has his list of actual actionable things. And then he I think he says he has this other list of like the do later list, but I think it’s just pretending to write it down. So he no, I see his hand move, but he’s actually not writing it down.

00:37:09:18 – 00:37:32:17
Kyle Pearce
But there’s a lot of answers to those questions. So rocket fuel, another Geno Wickman book, a great, great book, is also on the book list over at Canadian while secret WSJ.com forward slash books. And of course friends. On this particular episode, we’re going to have a show notes page with links to Ian’s LinkedIn to his website that he shared.

00:37:32:17 – 00:37:58:11
Kyle Pearce
There you can find over on Canadian while secret WSJ.com forward slash Episode 76. On behalf of the Canadian Wealth Secrets community, I want to thank you again for taking some time here today to share your story and to also give us a lot of amazing Canadian well, secrets to take with us. The secret sauce. And I’m hoping we’ll get to catch up with you on a future episode to see how things are going in your world.

00:37:58:14 – 00:38:17:19
Ian Murray
Thank you. And honestly to all of your listeners, reach out. We take a help first approach as iOS implementers. I would love to chat with anybody. I’m quite happy to jump on a phone call and just try to offer any kind of help or any kind of clarification, any of your questions that you have. I’m an open book here.

00:38:17:21 – 00:38:44:15
Kyle Pearce
I love it, and I know that about you. Back when I first met through Matt, actually through Matt Bigley, who used to be a host here on the podcast, and we both came together and it was just a true share and help sort of conversation. And that’s essentially how this relationship has grown. So folks, I can attest to it, Reach out to an amazing person, amazing ideas, and of course, he’s going to be pointing you in the right direction.

00:38:44:15 – 00:38:48:13
Kyle Pearce
So thanks again, Ian, and have an amazing remainder of your day.

00:38:48:15 – 00:38:50:15
Ian Murray
Yeah, you too. Thanks, Kyle.

00:38:50:17 – 00:39:16:07
Kyle Pearce
Well, they’re friends. Lots of big takeaways there from Ian, and I’m sure you could see yourself somewhere along that path. Maybe you’re further along the path than others, but ultimately, most entrepreneurs, business owners and even those in careers that are very demanding often find themselves where they seem to be working harder and harder, only to feel more burnt out and less satisfied with the outcome.

00:39:16:09 – 00:39:44:10
Kyle Pearce
Well, pick up that book traction, as Ian is suggesting, And of course, if you want to take a deeper dive into the iOS framework, you should be reaching out to Ian. You can do so by heading over to our Show Notes page on the website at Canadian Wealth Secrets dot com forward slash episode seven six That’s Canadian Wealth Secrets dot com forward slash Episode 76 so that you can access all of the links to the books, the resources.

00:39:44:16 – 00:40:23:02
Kyle Pearce
Remember we’ve got our book list over there as well at Canadian Wealth secrets dot com forward slash books and of course to the contact information for Ian. Well my friends if you’re looking to take a deep dive into your corporate and or your personal wealth strategy you should reach out to us over at Canadian Wealth secrets dot com forward slash discovery and you can hop on a call so that we can dig that culprit wealth management pebble that might be rattling around in your shoe once again head over to Canadian wealth secrets WSJ.com forward slash discovery and book a call today.

00:40:23:04 – 00:41:13:21
Kyle Pearce
All right, Canadian Wealth Secrets seekers. We will see you next time. And just a reminder, the content in this show is for informational purposes only, you should not construe any such information or other material as legal tax, investment, financial or other advice. And as a reminder, John is a mortgage agent with Brick’s mortgage license number. m23006803. And Kyle is a licensed life and accident and sickness insurance agent and wealth architect with the Pan Corp team, including corporate advisors and pan financial.

Canadian Wealth Secrets is an informative podcast that digs into the intricacies of building a robust portfolio, maximizing dividend returns, the nuances of real estate investment, and the complexities of business finance, while offering expert advice on wealth management, navigating capital gains tax, and understanding the role of financial institutions in personal finance.

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