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Ep42: Byron Schoepf: Building Success with Proven Models and Servant Leadership
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In this episode of "Your Business Your Next Level," I welcome Byron Schoepf, a dynamic entrepreneur with an impressive journey spanning from finance to assisted living, and now thriving as a multi-location Little Caesars franchise owner. Byron shares his unique transition from being a stockbroker to entering the food business, learning valuable lessons from both his failures and successes. We dive into the importance of understanding your numbers, sticking to proven business models, and practicing servant leadership to foster community and employee loyalty. Byron also reflects on navigating challenges like the COVID-19 pandemic, balancing family life with business, and building a legacy of service and resilience. His candid insights offer inspiration for aspiring entrepreneurs and seasoned business owners alike.
Key Takeaways:
The Value of Knowing Your Numbers: Byron emphasizes the importance of understanding financial metrics and making data-driven decisions to avoid costly mistakes and build sustainable success.
Stick to Proven Models: After experiencing a failed concept, Byron found success by aligning with an established franchise model, underscoring the importance of leveraging existing expertise.
Servant Leadership Pays Dividends: Byron’s approach to leadership focuses on serving employees and the community, creating trust, loyalty, and mutual growth, especially during tough times like the pandemic.
Balance Growth with Stability: Byron cautions against chasing top-line revenue or rapid expansion without considering sustainability and profitability.
Business and Family Harmony: Byron and his wife, Linda, have mastered the art of working together while respecting each other’s roles, demonstrating the power of collaboration and shared goals.
Timeline Summary:
[00:00] - Introduction to Byron Schoepf and his journey from finance to Little Caesars franchises.
[02:00] - Lessons learned from failed ventures and finding success in franchising.
[05:00] - The importance of sticking to proven business models and knowing your numbers.
[08:00] - Practicing servant leadership to support employees and the community.
[12:00] - Navigating challenges and staying resilient during the COVID-19 pandemic.
[15:00] - Balancing family and business, and maintaining harmony with a shared vision.
[20:00] - Final thoughts on humility, service, and building a legacy.
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