Ep 10 - From Paperboy to Payroll Prince: Meet Rob Basso, the Consummate Entrepreneur
Welcome to the Crazy Wealthy Podcast! Jonathan interviews Rob Basso, a seasoned entrepreneur and business coach who shares his journey from humble beginnings to building and selling multiple successful businesses. Rob's journey is truly inspiring. We dive deep into his experiences founding Long Island Advantage Payroll and his subsequent business ventures. Rob opens up about the challenges he faced, including a difficult split with a business partner, and how he overcame them. For all you entrepreneurs out there, Rob shares invaluable insights from his book "The Everyday Entrepreneur" and discusses his current work as a business coach. Whether you're just starting out or looking to take your business to the next level, this episode is packed with wisdom you won't want to miss. Tune in!
IN THIS EPISODE:
(00:00) Introduction
(01:50) Rob Basso recounts his early life and the entrepreneurial lessons learned
(05:21) The creative job-seeking strategy that launched Rob's career in the payroll industry
(08:19) Rob discusses his book "The Everyday Entrepreneur"
(09:30) The "Triple Threat" of Entrepreneurship
(13:07) Post-exit challenges: Navigating the emotional impact of sudden wealth
(26:40) Overcoming partnership disputes and preparing for a successful business exit
(35:50) Rob's current role as a business coach and consultant
(40:37) Recap of the episode with Jon and Amy
KEY TAKEAWAYS:
- Early experiences, such as having a paper route, can instill valuable entrepreneurial skills like responsibility and customer service.
- Entrepreneurial success often requires a combination of ambition, confidence, and conviction, coupled with years of persistent effort.
- The emotional challenges of post-exit wealth can be significant. Having a solid financial plan and advisor is crucial for navigating this transition.
- Business partnerships can present unique challenges. Clear communication and aligned expectations are essential for long-term success.
- Personal branding, particularly on platforms like LinkedIn, is increasingly important for CEOs and can significantly impact company value.
RESOURCE LINKS
Fusion Family Wealth - Website
GUEST BIOGRAPHY:
Rob Basso is a seasoned entrepreneur, published business book author, and national business media commentator. As an entrepreneur, he successfully built and sold two Inc. 500 payroll/human capital management companies to large public companies and has been part of many multi-million-dollar deals. Additionally, he co-founded Empire National Bank, which was subsequently sold to Flushing National Bank. He is a Certified Entrepreneur and Executive Coach and has a thriving consulting practice that builds personal brands for entrepreneurs through the power of LinkedIn.
Please click below for important disclosure information. https://www.fusionfamilywealth.com/disclosures
ABOUT THE HOST: Jonathan is the President and CEO of Fusion Family Wealth, founded in 2013 to focus on behavioral finance and guide clients toward rational financial decisions. A sought-after speaker in wealth management, Jonathan previously held senior roles in tax and estate planning at Arthur Andersen. He has a BS in Finance, an MS in Taxation, and an MBA in Accounting. Based in Long Island, Jonathan is active in the local business community, supports causes like the Middle Market Alliance and Sunrise Day Camp, and enjoys boating with his family.