Episode 16: Building Success Through Adaptation: Joe Rare’s Entrepreneurial Journey

In this episode of “Grow Your Damn Business,” host Scott Goodrich converses with Joe Rare, the founder and CEO of Level Nine Virtual. Rare’s entrepreneurial journey is a testament to resilience, strategic thinking, and the power of delegation. Here’s a concise summary of their discussion.

Episode Highlights

[0:00] Intro

[1:23] Joe’s drive for wealth and freedom

[5:11] Level Nine Virtual: Building a business run by virtual assistants

[8:25] Lessons learned from previous business ventures

[13:28] Transitioning into marketing and starting an agency

[15:21] From the startup space to veteran communities, and shutting down their agency

[19:25] Growing the team at Level 9 Virtual

[22:20] Documenting processes for scalability and repetition

[24:54] KPIs and metrics

[27:00] Investing in real estate for financial security

[30:26] The value of delegation and taking time to think and reflect

[32:13] Rapid-fire questions

[33:53] Where to connect with Joe

[34:16] Outro

Embracing Entrepreneurship:

Joe Rare’s entrepreneurial spirit was ignited at a young age when he realized the freedom and wealth that owning businesses could bring. This realization led him to read “Rich Dad Poor Dad” in high school and set his sights on entrepreneurship. His journey began with a door-to-door sales business, which he successfully sold at 22.

Learning from Failures:

Rare’s path wasn’t without setbacks. His venture into the real estate market met a harsh end with the 2008 crash, leaving him to start anew. This failure became a turning point, leading him to the world of e-commerce and subsequently, digital marketing. Each step, while challenging, was an opportunity for growth and learning.

Leveraging Virtual Assistants:

After reading “The 4-Hour Workweek,” Rare was introduced to the concept of virtual assistants (VAs). He hired his first VA in 2008 and has since built multiple businesses, significantly run by VAs. His strategy focuses on delegation and efficiency, ensuring his businesses align with his desired lifestyle of freedom and presence for his family.

The Power of Delegation:

Rare emphasizes the importance of delegation, not just in tasks but in roles within his companies. By strategically assigning roles and creating processes, he’s able to step back as a strategic advisor and investor, rather than being caught up in day-to-day operations. This approach has led to the successful launch and growth of six companies.

Process Documentation for Scalability:

Key to Rare’s success is his focus on documenting processes for each aspect of his businesses. He ensures that these processes cater to different learning styles, incorporating visual, auditory, and kinesthetic elements. This meticulous documentation allows for scalability and repeatability across various ventures.

Investing in the Future:

Beyond his businesses, Rare and his wife invest in real estate as a means of securing their future and providing for their children. His earlier experience in real estate taught him the importance of cautious and informed investing, a lesson he carries into his current endeavors.

Continuous Growth and Adaptation:

Looking forward, Rare continues to refine his businesses and explore new opportunities. His ability to adapt, learn from past experiences, and leverage the skills of others has been instrumental in his journey. He underscores the importance of failing fast, learning quickly, and moving forward with enhanced knowledge.

In conclusion, Joe Rare’s story is one of resilience, strategic thinking, and the power of effective delegation. His journey from a young entrepreneur to the founder of multiple successful businesses highlights the importance of adaptability, process documentation, and the strategic use of virtual assistants. Rare’s experience serves as an inspiration for current and aspiring entrepreneurs to embrace failure as a stepping stone to greater success.

Connect with Joe

LinkedIn: https://www.linkedin.com/in/joerare/

Website: https://www.joerare.com/

IG: https://www.instagram.com/joerare

Email: joe@joerare.com

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Meet our Host

Scott has an entrepreneurial spirit that’s been burning since his teenage years. Back then, he was mowing lawns, managing paper routes, and selling greeting cards door to door – always finding different ways to put some cash in his pocket! After graduating college, Scott had a successful career in sales and operations leadership, but his desire to be a business owner was never far from his heart. Seven years ago, he and his wife, Jenn, took the plunge and started their own business. Like many others, they spent all their time on the struggle bus – dealing with cash flow, payroll, and questioning whether their doors could even stay open. Ultimately, they persevered and learned some incredibly valuable lessons along the way.

Now, Scott is dedicated to helping others avoid the pitfalls he faced, fulfilling his purpose as a coach, and helping owners and teams achieve their dreams. When he’s not guiding businesses toward success, Scott can be found hitting the gym, on the golf course, or racking up miles on his Peloton.

As an EOS Implementer, Scott is passionate about helping business owners build a solid foundation and clear vision, empowering them to achieve growth, balance, and financial freedom – all while enjoying the ride.

Scott Goodrich

HOST & PROFESSIONAL EOS IMPLEMENTER