You can Find the Courage to Lead WITHOUT Taking the Reins with Harlan Hammack

The secret is out: if you’re doing it right, being a leader is TOUGH. But there are ways you can ensure you’re handling your team the right way and freeing up your own finances in the meantime. Learn alongside our host, Liam Leonard, how today’s guest on The Prosperity Perspective Podcast, Harlan Hammack, found the courage to move from his secure W2 to fully run his own business. Harlan and his wife are a powerful duo that shaped their finances into what they always wanted while making room to help and coach others–and travel the world while they do it! Don’t miss this insightful episode on finding the courage to build a successful enterprise that doesn’t have to rely on you 24/7.

3 Key Takeaways:

The five reports that every business owner should look at at least quarterly
The difference between conscious and unconscious incompetence
How engaging your employees will change the entrepreneurial spirit of your business

Show Notes:

[00:30] Harlan introduces himself

People/tech management consultant for 30 years
Getting on a plane for every Monday and Friday
Deciding that he wanted to be a full-time coach
Building an enterprise for others where they don’t have to constantly be there

[3:30] Where Harlan started putting his time and energy after receiving a steady income

Setting aside money to take December off
Traveling consistently
Invest in real estate
Going digital nomad for 2022
Selling everything, consolidating to one vehicle, and travel the US

[6:15] How Harlan managed his money in order to put it aside for vacations

Budgeting for the house and then tucking money away in the 401K ALWAYS
“Retirement for us is financial freedom, so we can do whatever we want.” -Harlan Hammack

[8:19] Their structured plan and how they decided how to divy up their remaining income

Putting aside what they knew to cover
Calculate an exact number of what you’ll need for your goal
Putting aside max IRS taxes

[9:15] What is financial freedom, really?

Being able to make your own choices and not be driven by someone else!
“While working W2 for other companies was fun, we realized we were doing most of the work and getting a fraction of the income.” -Harlan Hammack
The Ramsey Approach

[11:52] Was the financial freedom determiner a number for Harlan?

It’s not a specific amount
Working with a financial advisor to play what if?
Being flexible about potential changing financial needs

[13:30] The advice Harlan gives his clients

“You have to know your numbers and what they mean for the business.” -Harlan Hammack
The five reports that every business owner should look at at least quarterly
Your balance sheet & profit/loss statement, cash flow, AR, & AP
Know what the labor should be when you bill it out
“If you don’t know your numbers you won’t know what to do to improve those numbers.” -Harlan Hammack

[15:50] The leadership components that Harlan instills in order to retain the right behaviors

Making the transition from buddy to boss
“Leaders are the visionary in the company. They set the strategic vision and have to be able to step fully into that role.” -Harlan Hammack
Don’t dive into hands-on work! Delegate that to others on the team

[18:14] The one thing that’s most important to start with

Find a mentor or coach that you can sit down with
Have intellectual courage
“If you think you’re the smartest in the room, you’re in the wrong room. You have to be courageous enough to listen to what your employees are saying.” -Harlan Hammack
Find out everything you can from the others about the business
The difference between conscious and unconscious incompetence

[20:25] For small business owners asking where to start finding a mentor

The Business Association
The Score
Ask Harlan about it with a free consultation!
ib4e-coaching.com

[21:30] The most exciting thing Harlan is working on right now

Harlan is having fun on his podcast, The Courage to Lead
His example of an NFL player that lost everything

[23:04] Harlan’s last advice

“Being a leader is tough! You have to have intellectual, moral, and empathetic courage.” -Harlan Hammack
Engage and talk to your employees!
Look at their feet

About Harlan Hammack:

Coach Harlan is a Certified Business & Leadership Coach with strengths in organizational change management, personal development, team building, communication, and strategic planning. Coach Harlan is known for his engaging personality, business insights, and integrity. He has earned the praise as a trusted advisor, mentor, friend, and confidant to executives, leaders, and front-line employees.

As host of the popular The Courage to Lead podcast, Coach Harlan interviews business and community leaders to investigate what it takes to be a courageous leader. The podcast is available on Apple/iTunes, Google Podcasts, Stitcher, Spotify, iHeart Radio, and other media outlets.