Episode 17: Pivoting Your Business in a Crisis with Thor Conklin

Hey, everyone! Today's guest is Thor Conklin and I have to say I had a great time talking with him. It's always refreshing talking to entrepreneurs that have been around for quite a while, and Thor has been in business for almost 20 years now. So it's interesting talking to people that have owned their own companies for that long. He had companies that had a combined revenue of $12.7 billion, and they operate in over 100 countries all over the world. His background in risk management actually came in pretty handy when he lost a third of his team in the World Trade Center attacks in 9/11. If you've been in business long enough, you're going to live through events that no one can see coming. Thor obviously made his way through some pretty difficult times there. Since that time, he started and bought and sold several multi million dollar businesses, making him a sought after cross industrial resource for entrepreneurs and executives in all stages of business. Thor has a talent, and we'll get into some of this in our interview, for cutting through the noise and distractions that most people get distracted by and keeping people focused and making sure that they achieve the goals that they're that they've set out for themselves. Through his consulting firm- Peak Performance Group- he teaches the tools tips, tricks, psychology and strategies necessary to be a peak performer. He qualifies the psychology of success in one word, and that's: execution. Nothing you've ever learned matters unless you can execute. So with that, we'll get on with the show, enjoy! In this episode we discuss: What he did in his 20s that made him earn more than his dad when he was young [4:20] Hustling at an early age [5:03] Getting a once in a lifetime phone call and starting his first company [5:54] How to find the best employees [8:07] The story of his failed business and lessons learned from that [10:51] Being a senior leader for Anthony Robbins [14:25] Being a part of Entrepreneurs'​ Organization [16:01] Starting Peak Performance after failing in his salon business [17:58] Helping entrepreneurs that are close to bankruptcy and crawling out of the depths of despair [19:58] The Peak Performance Pyramid: a guide to achieving your vision for yourself and your business [22:10] Having somebody else to tell you the hard truths about pivoting your business, especially in a crisis [26:52] Types of businesses they work with [28:43] Uncommon problems that affect a business [29:12] Story of a client who lost money [31:55] Where to find Thor [32:54] How he got the name Thor [33:55] Quotable Quotes A small business with financial issues is easy to deal with. And as that business gets bigger and bigger, and there's more zeros thrown on top of it, you're looking at not a $10,000 issue, you're looking at a half a million dollar issue every week. So I learned my lesson there. Links to sources and tools If you’re a small entrepreneur who’s just starting out and need advice, send Thor an email at Thor@thorconklin.com to receive a personalized email with a 4 step system to annihilate the problem or at the very least greatly reduce it. Find Thor Conklin through these channels: https://thorconklin.com/ https://www.facebook.com/Thor.Conklin1 https://www.linkedin.com/in/thor-conklin-9b2b087?trk=hp-identity-name https://www.instagram.com/thor.conklin/ https://twitter.com/thorconklin Support our podcast Rate and review: