Who is Simone?
Simone is a multi-award winning serial entrepreneur and author who helped to lunch more than 500 profitable businesses before he was 30 through his company GTeX. He is passionate about building thriving community-led businesses where the members are the core and essence of the decisions and development of ideas.
He works with startup entrepreneurs and experts who want to grow their existing business as well as multi-millionaires who want to launch new ventures, bringing ideas to fruition at lightning speed
Key Takeaways
1. Human beings come together into communities, and o interact in communities. Community-led leaders want to stand out from the crowd and build something meaningful for society
2. Too often community-led business leaders cannot build an audience, service customers and build offers all the same time and to do that consistently needs help to develop a way to do it
3. If you are a community-led business and care about your 'tribe' you need to care about money and cash flow so that you can stay in business and continue to help them
Valuable Free Resource or Action
See getx.org.uk has many free resources, podcast and training courses to help
A video version of this podcast is available on YouTube :
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Transcript
Note, this was transcribed using a transcription software and may not reflect the exact words used in the podcast)
SUMMARY KEYWORDS
business, simone, community, realise, build, work, running, people, book, absolutely, customers, spending, question, client, podcast, purpose, ideas, launch, service based businesses, money
SPEAKERS
Simone Vincenzi, Stuart Webb
Stuart Webb 00:22
Hi again and welcome to It's not rocket science. Five questions over coffee. I haven't actually got a coffee today I'm already over caffeinated. So this is just a water but I'm here today with Simone vincenzi. I don't know if you've got a coffee with you, Simone.
Simone Vincenzi 00:40
I don't I'm I'm over caffeinated as well. Same. The same thing.
Stuart Webb 00:44
Simone is, is a multi award winning serial entrepreneur and author, he helped to launch more than 500 profitable businesses before he reached the age of 30, which sounds really impressive. His his company is GTEx. And he's passionate about building thriving community led businesses when the when the members are the core and essence of the decisions and development of ideas, Simone, I'm really looking forward to the discussion today. And welcome to the podcast
Simone Vincenzi 01:16
that thank you for having me here. And I cannot wait to get started. Thank you for
Stuart Webb 01:20
Well, let's start then with my first question which is So describe your your ideal client, the the perfect person that you help with your with your business, Gtech?
Simone Vincenzi 01:29
Yeah, people that we work with are people that are generally running service based businesses. And what they are, they are very driven by a sense of community, they're very driven by making a difference and better driven by making an impact. And they've got a core expertise or something that they are doing or something and want to be known for. And they want to get their voice out there, they want to get seen, they want to get known. They want to make a difference with their voice, because they realise that they have some skills that can definitely help other people. And, but having a voice and I mean a story or running a business, they are two different they're two different things. Right? So then they stumble across to say, I want to run a business. And they might get a few clients, and then at some point, they get stuck. And so that's the that's where we come in. And that's the kind of people that we work with.
Stuart Webb 02:25
Yeah, I know, I know exactly what you mean. And and that leads us very nicely on to the second second question, which is those people that have got stuck, they've often tried things themselves, what are the mistakes you see them making? And how do you help them to overcome some of those mistakes?
Simone Vincenzi 02:40
Yeah, I think that the biggest mistake that they make is that they only realise what they need when it's too late. For example, they work on their offers, and they work on creating a launch. And then they realise that actually, they don't have an audience, or they don't have a community that is ready to buy their offers. And they realise it often after, because I think that when you're running a business, in particular, if it is your first time, or if it is a new industry now is easy to get caught up into doing doing doing and there are millions of things to take care of, there are millions of hat that we are wearing all the time. And it's easy to lose, focus on really what's important, or what's gonna make my launch successful, what's gonna make things work. And I think there are three things that can solve this problem. One is a community. So the focus, having a focus on building your own community and people that they love what you're doing, they respect you, they want to buy from you. They want to listen, they share what you create, and they are your biggest fans, then the second part is lack of visibility and actually becoming really visible to their audience. Because if they don't know that you exist, then how the heck are they going to be part of your community or even buy? And then the third part is your recurring revenues. I think that a lot of people get stressed with that like to get my next client and my next client and my next client and my next client and the debts why they forget to build their community and be visible and is like a self fulfilling prophecy. But if you focus on your recurring revenues, what's happened is that now you have like a good basic income you have a good stable business and then you have more free thing long
Stuart Webb 04:36
yeah, having a stable business or having stable things that you can offer is so much easier and so much sharp. So it's easy to sort of relax into that which you built the audience with. You built the people around you who you know, were there to become the prospective customers don't they?
Simone Vincenzi 04:54
Exactly. Absolutely. Absolutely. And, and and it is a it is a consistent work is not something that you can do day in and day out, I can do one month in one month off.
Stuart Webb 05:06
Is it something you see often with, with with people who are starting a business, so they work really hard in order to be able to sort of generate all the ideas. And then they have, then they get a client or they get customers and they get busy doing things for them. And then they forget, they have to go back and start generating new customers. Otherwise, they have a month off, where they're suddenly thinking, I've delivered all those projects, where are all my customers, again, you spend the next month building all those customers back up, don't you that feast and famine is a very common early stage problem.
Simone Vincenzi 05:37
100%. And I believe that I think that can put things in perspective, in business, often you get paid three to six months down the line for the work that you're doing today. And so the work that you're doing today is what is going to prepare your business for the next three to six months. Not for the revenues. Now, as if you suddenly were today you don't sell for today, but you sell for three to six months down the line? Yes, well, if you do the work today, and day after day, then you can future proof your business in this way by being visible, build your community have a system with the recurring revenues, and then it increase organically. And now you have something that you actually really solid that gives you space that gives you freedom to do other things that or invest in your business or grow it hire more team members and so on.
Stuart Webb 06:24
Absolutely. Right. Absolutely. Right. So we have scrolling across the screen at the bottom that your website. And I'm hoping that there's some valuable free resources at the website@gtex.org.uk, which community based leaders and the people you're talking to at the moment could go and get those valuable resources from?
Simone Vincenzi 06:41
Absolutely, there's plenty of free resources out there on their on their website, starting from our podcast, the expert to authority show that everyone can listen to, as well as our we have a training on understanding how to build your community and visibility and recurring revenue. So check it out. And there are and have a look around for your debt training is going to be incredibly valuable.
Stuart Webb 07:06
Brilliant. So is there a particular concept programme or book which you have found most impactful in your experience? And what is the what's the impact it's had that you'd like to share with us?
Simone Vincenzi 07:18
Yeah, so I'm Italian, right? No? Yeah, exactly. I'm sure you're being Italian, you know, I'm very family oriented. That's why I'm a big believer in the power of communities. So I'm a big believer in the power of building a circle that is closer than just a following the two of them social media are a number on your mailing list. That is a very tighter network of clients, partners, people that are really there for you and your business, and you're there for them by in return. And there is a great book from Seth Godin, which I absolutely love. And it's called Tribes. Yeah. I don't know if you ever if you read that book, or you heard of it. Yeah.
Stuart Webb 08:07
Definitely, yeah. Yeah. Very good book. Very, very good book.
Simone Vincenzi 08:11
Yeah. And it is great, because it talks about how like human beings come together into communities, and our leaders can interact in communities. So then they can stand out from the crowd, while creating something meaningful for society. Incredible book and with big influence in the world that we are doing.
Stuart Webb 08:28
Yeah, very good. Very good book. Very good book. So Simone, I am sure there is a question that is on your mind at the moment, you're thinking I wish she would ask me this question. So what's the question you would like me to have asked you during this interview? And then answer that question for us. Otherwise, we're going to be spending the next several hours wondering why you asked that question. And I have no answer for it.
Simone Vincenzi 08:48
Okay, the question is, what are the two main reason the only two reasons why businesses go out of business? They own hands.
Stuart Webb 08:56
And I would guess that that's it's not for lack of ideas, and often for lack of potential customers, is it?
Simone Vincenzi 09:05
Mm hmm, exactly. So one is actually they do something illegal. If you do something illegal, you're out of business. The second one is they run out of money, cash
Stuart Webb 09:16
flow. Cash flow, is the key reason that so many businesses run out of steam, isn't it? I've watched it myself many times. And you know, something, Vincent Simona. I often say to people that I'm working with, and they will tell me and this is particularly true of those community based leaders also, but I don't I'm not worried about the money, the money will happen. And I should turn around to them and say, the money is what you have to worry about. You should be thinking about that. Because if you don't have the money, you can't serve your community.
Simone Vincenzi 09:48
Absolutely. 100 100%. And that's why in particular, if you'd like if you're like a your purpose and your heart is not going to pay the bills. No, I'll let So you make it into a business, which now you means learning about sales and marketing conversions running the community becoming visible. And that's the game. And that's why a lot of people don't succeed a business, because instead of they are too in love, with their purpose and their passion compared to being the love of running the business. And I think that if you do need to combine both to have a successful business, otherwise, there is nothing wrong to do your work for charity. I'm not saying that there is something wrong or that everyone now needs to a business or you're wrong for that. But if you want to have a successful business, you need to fall in love with money, you need to fall in love with running a business and implement your purpose into it. And now you have full personal fulfilment and financial fulfilment together.
Stuart Webb 10:44
You're absolutely right, Simone. I love that. I mean, yeah, absolutely, you're absolutely spot on with that. I do. So worry about those people that that don't worry about the money because they can't continue to serve the purpose that they have the purpose led life and the purpose led business that they have, if they're not able to pay the bills that will cause the business to fail. So yes, people do you do need to worry about the bills, you do need to worry about whether or not that invoice has been paid. And you need to ring the person and say, that invoice hasn't been paid, I need the money because otherwise I can't keep helping you. That's a really important thing.
Simone Vincenzi 11:20
And 100%
Stuart Webb 11:22
Simone, this has been a really brilliant to chat. I really appreciate you spending some time talking to us. That, folks, this is this is why we do these things because we love to get people like Simone who's got really great ideas about how to build really important businesses. And if you want to hear about the people we've got coming on if you were on the on the newsletter list, yesterday, you got an email from me saying join today's call to listen to Simone talk about his business. Get onto our newsletter list by subscribing to it at t ca dot FYI, very simple TCA dot FYI, forward slash subscribe, that's TCA dot FYI, forward slash, subscribe, get onto that list and get on to hearing about some of the wonderful things that people like samode are doing. And if you like some of what we're doing here on the podcast, can you can you rate and subscribe on Apple podcasts and Spotify tell everybody what a great job people like Simone are doing and tell the world that we're trying to help expose more of the sort of great businesses like Simone's doing Simone, thank you so much for coming on and spending a few minutes with us. I really appreciate it. And it's great to hear some of the stuff that you're currently doing with GTEx
Simone Vincenzi 12:35
Thank you very much do I really appreciate and it's been a pleasure being here.
Stuart Webb 12:39
No problem. Thank you.
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