Mac Lackey is no stranger to building and selling 7 and 8-figure companies.
Flipping Companies in Business
He’s sold six.
But this whole idea of creating, scaling, and flipping successful businesses didn’t start overnight. It took years. all started with an idea, his kitchen table as an office, and a $10,000 loan from a family member.
He sold that company, three years later for a massive profit, and never looked back.
In this DreamNation episode, Mac sits down with us to explain how he was able to grow a business without a job, trust fund, or fancy tech skills.
Then, stay tuned to hear how Mac flipped 7-figure business on repeat throughout his 25-year career. You’ll also get tips on what it takes to build and sell your business (if you wanted to) for a massive profit.
Here’s What You Missed
- What allowed Mac to build a successful business with a $10K loan, his kitchen table, and no job
- Why Mac was able to build 6 and 7-figure tech companies without a degree or experience in tech
- How do I know if I have a good business to sell for a big profit?
- The high value of building the right relationships in big deals
- Why we shouldn’t focus only on the money when selling a business
- How do I test my business idea?
- How do I scale my business idea?
Knowledge Nuggets
{1:21] From Passion to Profit: Mac shares how he transitioned from a childhood focused on soccer to a career in flipping startups…as his first “real job”. Mac shares why he left his first job after 6 months to build his own startup and the struggles he encountered along the way.
[5:51] Starting a Startup from Scratch As Mac shares, he had no idea about the challenges that went along with starting a business. He only knew that he wanted to build something. It was that interest in building something and his skill in building relationships when he didn’t have the money to start making big deals.
[9:24}The Key to Flipping Startups If you ever wanted what it takes to grow and sell a 7-figure business, Mac shares his mindset that he developed that helped him understand what it takes to build a business that other businesses want.
[18:06] Relationships are the Key to Scaling OK, so let’s say you have an idea for a startup and need to make it bigger. How do you do that? Mac breaks this down why relationships are the key to all of this and how to make your business grow faster quicker without needing a lot of money or a lot of time.
[20:42]The Hustle is Not Everything Mac points out key issues that he has with the startup community like “spending all of your time on the hustle” and “the laptop lifestyle”. Find out why Mac says you can have a happy family life and a successful career as a business owner.
Important Reads & Links
The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers by Ben Horowitz
Purple Cow, New Edition: Transform Your Business by Being Remarkable by Seth Godin
The Four Hour Work Week by Tim Ferriss
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