Podcast Summary: The Entrepreneur DNA

Episode: 7 Companies, 400 Employees, and a $250M Exit Before 30 Years Old | Austin Zaback | EP 57
Release Date: February 3, 2025
Host: Justin Colby, Bleav
Guest: Austin Zaback
Duration: Approximately 16 minutes

Introduction

In Episode 57 of The Entrepreneur DNA, host Justin Colby sits down with Austin Zaback, a dynamic entrepreneur who has impressively built seven companies, employs 400 people, and achieved a $250 million exit—all before turning 30. Co-hosting alongside Chandler Bolt, founder and CEO of Self Publishing.com, the episode delves deep into Austin's entrepreneurial journey, leadership philosophies, and the personal motivations that have fueled his success.

Austin's Entrepreneurial Journey

Early Aspirations and Initial Ventures

Austin Zaback begins by sharing his early ambitions and the initial steps that led him into entrepreneurship. Reflecting on his youth, he acknowledges making several ventures that, in hindsight, were not aligned with his ultimate passion for real estate. "I owned an ATM company, a marketing company, a golf cart limousine company, and an exotic car rental agency," Austin admits at [03:00]. He recognizes these as missteps, emphasizing that focusing on real estate would have accelerated his progress in that field.

Transition to Real Estate

Under Justin's guidance, Austin pivoted towards real estate, where his true interests and strengths lie. He now oversees a vertically integrated portfolio of companies within the real estate sector, including:

• Wholesale Real Estate Company: Ranked as either the number one or two wholesaler nationally, depending on current corporate performance.
• Retail Real Estate Team: The top team in Arizona, with expanded operations in Florida, Texas, and California.
• Mortgage Company & Title Company: Providing comprehensive real estate services.
• Media Company: Enhancing brand presence and marketing efforts.
• Flipping Companies: Engaged in property acquisition and renovation.
• Education Company: Focused on training and development within the real estate domain.

Austin emphasizes the importance of vertical integration: "The companies that I have today all benefit each other, right? And they are all very pretty, vertically integrated I would argue." [02:27]

Leadership and Team Management

Evolving Leadership Style

Austin candidly discusses his evolution as a leader, particularly the shift from trying to manage every aspect personally to delegating responsibilities effectively. He acknowledges his early misconception that all employees shared his high aspirations. "I thought everybody on earth was just like me... I just assumed anytime I walked into a room with my employees or my staff... that everybody had the same goals that I had." [08:47]

Realizing this flaw, Austin adapted by leading through a tiered leadership structure. "I'm leading the leaders and the leaders are leading the people. I'm not directly engaging with everybody in all my different companies on a day-to-day basis." [09:51]

Motivation: The Carrot and the Stick

A significant portion of the discussion centers around motivational strategies. Austin explains that his approach varies depending on the individual and the situation. "I think both. It just depends on the time and the season and the place." [07:29] He shares his realization that not all team members are driven by the same incentives, leading him to diversify his motivational tactics.

He further illustrates this with an analogy: "If I can't get the guy that is making 50k a year to want to make a hundred, then I just need two guys that want to make 50." [08:16]

Personal Motivation and Drive

From Financial Gains to Impact

Austin opens up about the personal motivations that drive his relentless pursuit of success. Initially, his goal was straightforward: to make a substantial amount of money. "I was thinking about a Lamborghini." [12:10] However, over time, his motivations have evolved. He now finds greater fulfillment in helping others achieve financial success. "Nothing gets me fired up like seeing someone I helped achieve success... like a Lamborghini in a parking lot that's someone else driving because of my support." [13:03]

Influence of Early Life Experiences

Austin attributes his drive to his challenging upbringing. Growing up in his grandparents' garage in Gilbert, Arizona, he was exposed to the value of hard work and resilience. "I think ultimately, for me, it was just a chip on my shoulder. I grew up in a garage... I wanted to have a normal family. I didn't have a normal family." [04:12] These experiences instilled in him a determination to create a better future for himself and his family.

Lessons Learned and Advice for Aspiring Entrepreneurs

Clarity and Focus

One of the key takeaways from Austin's journey is the importance of having clear objectives. "If you don't know where you want to go, how are you going to get there?" [12:10] He advises entrepreneurs to define their goals early on and remain flexible as those goals evolve.

Embracing Vertical Integration

Austin emphasizes the benefits of a vertically integrated business model, especially within the real estate sector. By owning multiple interconnected companies, he ensures streamlined operations and maximized synergy between different facets of the business.

Adapting Leadership to Individual Needs

Understanding that each employee is unique, Austin advocates for personalized leadership approaches. "Some people just aren't motivated by what you and me are motivated by... You have to try to put yourself in their shoes." [08:47] This empathy-driven leadership fosters a more motivated and cohesive team.

Leveraging Your Story

While not explicitly detailed in the conversation, the presence of Chandler Bolt, a self-publishing expert, subtly underscores the importance of sharing one's entrepreneurial story as a tool for growth and influence.

Notable Quotes

• Austin Zaback: "I owned an ATM company, a marketing company, a golf cart limousine company, and an exotic car rental agency... I think that was a mistake." [03:00]

• Austin Zaback: "If I can't get the guy that is making 50k a year to want to make a hundred, then I just need two guys that want to make 50." [08:16]

• Austin Zaback: "Nothing gets me fired up like seeing someone I helped achieve success... like a Lamborghini in a parking lot that's someone else driving because of my support." [13:03]

• Austin Zaback: "If you don't know where you want to go, how are you going to get there?" [12:10]

Conclusion

In this inspiring episode, Austin Zaback's story serves as a testament to the power of clarity, focused leadership, and evolving personal motivations in the entrepreneurial landscape. Justin Colby and Chandler Bolt provide a platform for Austin to share invaluable insights, making this episode a must-listen for aspiring entrepreneurs seeking to scale their businesses while maintaining personal fulfillment.

Episode Highlights:

• Vertical Integration: Understanding the synergy between multiple businesses within the same industry.
• Leadership Evolution: Transitioning from hands-on management to empowering team leaders.
• Personal Growth: Shifting motivations from financial gains to impactful leadership.
• Entrepreneurial Lessons: Emphasizing the importance of clear goals and adaptable strategies.

For those interested in diving deeper into Austin Zaback's strategies and experiences, tuning into Episode 57 of The Entrepreneur DNA offers a wealth of knowledge and inspiration.