Bootstraps, Trusting the Process, and Innovation.

In this episode of The Outspoken Podcast, host Shana Cosgrove talks to Christine McDannell, entrepreneur and principal business intermediary at The Magnolia Firm. Christine was born with the unique gift to innovate, expand, and create. Starting at 23 years old, she (quite literally) rolled her sleeves up and got to work, turning her ambitions into an entrepreneurial streak that has exited 60 businesses in 20 years. Christine breaks down what the fundamentals of entrepreneurship are and what each unique business has taught her. From San Diego to Dubai, Christine has spent her life taking the leap and building her parachute as she falls!

QUOTES

“My first business was a cleaning company; it was very bootstrapped with only $300. [...] I was cleaning houses for a year and a half everyday and bartending at night to pay my bills. Then, grew it to the largest privately owned cleaning business in San Diego.” - Christine McDannell [02:50]
“There’s a debate on whether entrepreneurs are born or if you can become one. People who are willing to take high risks make perfect entrepreneurs; if you’re super conservative it’s very difficult to be a successful entrepreneur.” - Christine McDannell [12:00]
“The fortune is in the follow up. [...] People are so busy these days: myself included. ” - Christine McDannell [28:11]

TIMESTAMPS

[00:04] Intro
[01:34] Meet Christine McDannell
[02:50] Humble Beginnings - $300 and a Vacuum
[05:51] Exiting Companies: Perspective Then vs. Now
[08:49] Transitioning from Christmas Trees to Wellness Industry
[11:31] The Iceberg: Success Is Only the Tip
[13:48] Current Day Job: The Magnolia Firm
[15:58] Innovate an Industry
[17:34] Budgeting Daily Life While Continuously Reinvesting
[23:07] Finding Companies Ready to Sell and Companies Ready to Acquire
[26:26] Software Tools Used at The Magnolia Firm
[30:43] Social Media Influence on Sales and Marketing
[33:33] The Hustle
[36:05] Recommended Reads
[38:08] Find Your Tribe
[40:10] Outro

RELEVANT LINKS

I’d love to hear from you -- your feedback is important to me and I read all of it. If you enjoyed the podcast, I hope you’ll give us 5 stars. I’ll be sure to thank you via email. If not, let me know what you think we should do differently. Don’t forget to hit “subscribe” so you’ll receive notifications about guest interviews and other topics that drop every Tuesday.

Live well, Shana