Built Online Podcast Summary: Episode 98 – "The Power of Taking Action: Insights From the Zero-to-One Entrepreneur with Jay Sapovits"

Introduction

In Episode 98 of Built Online, host Cody McGuffey engages in a profound conversation with Jay Sapovitz, a seasoned entrepreneur renowned for his "zero-to-one" ventures. The episode delves into Jay's extensive experience in building businesses from the ground up, his strategic decision-making processes, and his unwavering commitment to action over motivation. Listeners gain valuable insights into the entrepreneurial journey, the challenges of scaling a business, and the importance of defining success beyond mere financial metrics.

Jay Sapovitz's Entrepreneurial Journey: Zero to One

Jay introduces himself as the "best zero-to-one entrepreneur," explaining that zero-to-one signifies his expertise in identifying market gaps and creating solutions where none existed. He recounts his diverse ventures, highlighting his ability to enter unfamiliar markets and establish successful businesses. From organizing a PGA Tour event in partnership with Jim Furyk despite having no pro golf experience to selling private jets without prior knowledge, Jay exemplifies adaptability and relentless action.

“Zero to one is I'm great at identifying where there's gaps and then building something to fill those gaps that doesn't exist.” – Jay Sapovitz [01:41]

Jay emphasizes his optimistic outlook, stating, “I wake up every day optimistic... I attack the day” [03:18]. This mindset has been pivotal in navigating the highs and lows of entrepreneurship.

Building and Scaling Inked Stores

Currently, Jay is focused on Inked Stores, a company specializing in on-demand company swag stores. With nearly 30 full-time employees and generating just under $5 million in revenue, Inked Stores exemplifies Jay's strategic approach to business growth.

“We own the embroidery machines, we own the screen print presses... we do it because we want to control the timing and the quality.” – Jay Sapovitz [05:17]

Jay explains the strategic decision to produce everything in-house, balancing asset-heavy operations to ensure quality and control over the product. This approach contrasts with competitors who might outsource production, highlighting Jay's commitment to maintaining high standards.

Defining Success Beyond Revenue

Jay challenges the conventional metrics of success, advocating for a broader definition that includes company culture, employee satisfaction, and personal fulfillment. He shares his contentment with maintaining a stable business rather than aggressively scaling to become the largest in the market.

“I live with them and I like them because I like the company that I like the company we have, I like the culture that we have and I like the people that we have.” – Jay Sapovitz [07:47]

Jay finds greater meaning in fostering strong relationships with his employees and ensuring their well-being, rather than solely focusing on financial growth. This perspective aligns with the second group of listeners who prioritize time freedom, financial stability, and personal fulfillment over massive revenue targets.

The Art of Decision Making in Entrepreneurship

A significant portion of the conversation centers on decision-making—a critical skill for any entrepreneur. Jay outlines his framework for making swift yet informed decisions, emphasizing the categorization of decisions based on their short-term and long-term impacts.

“If you're going to be an entrepreneur, you have to be a decision maker. Not everyone's going to be right. You have to be willing to cut your losses and make mistakes fast or else you burn money.” – Jay Sapovitz [08:45]

He discusses the importance of evaluating the nature of each decision, consulting various resources, and relying on gut instincts informed by past experiences. This methodical yet agile approach allows Jay to navigate complex business challenges effectively.

Overcoming Limiting Beliefs Through Action

Jay confronts the mental barriers that many entrepreneurs face, advocating for an action-driven approach to dispel limiting beliefs. He shares personal anecdotes of rejection and failure, illustrating how persistent action leads to breakthroughs.

“Limiting beliefs gets you. You make limiting beliefs extinct by taking action.” – Jay Sapovitz [24:08]

Jay emphasizes that success often requires stepping outside one's comfort zone and taking decisive actions, even in the face of uncertainty and discomfort.

Action vs. Motivation: Jay's Formula for Success

A recurring theme in the episode is the distinction between action and motivation. Jay asserts that relying solely on motivation is ineffective, as it is fleeting and unreliable. Instead, he advocates for an "action bias"—taking deliberate steps regardless of one's motivational state.

“I used to believe that you needed to be motivated to do something. It's a lie. You don't need motivation... you just do it anyway because that's what the job calls for.” – Jay Sapovitz [31:40]

Jay shares his personal strategy of initiating tasks without waiting for motivation, leading to substantial progress and productivity. This practical approach resonates with entrepreneurs seeking sustainable ways to overcome inertia and achieve their goals.

Future Plans and Reflections

Looking ahead, Jay discusses his plans for Inked Stores, focusing on scaling the business while maintaining operational excellence and supporting his long-term employees. He underscores the importance of mental health and a positive mindset in making informed decisions and sustaining business growth.

“The constant nature of being an entrepreneur is just, it's just constant learning and evolving.” – Jay Sapovitz [28:38]

Jay also reflects on the evolution of his entrepreneurial mindset, moving away from the pursuit of exits and financial milestones to valuing personal fulfillment and the well-being of his team.

Conclusion

Episode 98 of Built Online offers a rich tapestry of insights from Jay Sapovitz, a master of turning zero into one in the entrepreneurial landscape. Jay's emphasis on action, strategic decision-making, and redefining success provides listeners with actionable takeaways to navigate their own business journeys. His authentic storytelling and practical advice make this episode an invaluable resource for both aspiring and seasoned entrepreneurs seeking to build sustainable and fulfilling businesses.

Notable Quotes:

• “Zero to one is I'm great at identifying where there's gaps and then building something to fill those gaps that doesn't exist.” – Jay Sapovitz [01:41]
• “If you're going to be an entrepreneur, you have to be a decision maker. Not everyone's going to be right. You have to be willing to cut your losses and make mistakes fast or else you burn money.” – Jay Sapovitz [08:45]
• “Limiting beliefs gets you. You make limiting beliefs extinct by taking action.” – Jay Sapovitz [24:08]
• “I used to believe that you needed to be motivated to do something. It's a lie. You don't need motivation.” – Jay Sapovitz [31:40]
• “The constant nature of being an entrepreneur is just, it's just constant learning and evolving.” – Jay Sapovitz [28:38]

Connect with Jay Sapovitz:

• LinkedIn: Jay Sapovitz
• Website: Inked Stores

Note: For further details and full transcript, refer to the show notes accompanying Episode 98 of Built Online.