Welcome to the Join Up Dots business coaching podcast interview with Ace Chapman
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Introducing Ace Chapman
Ace Chapman is today’s guest joining us the Join Up Dots business coaching podcast interview.
Mr Chapman is an entrepreneur who has made millions buying and selling business’s for himself, and of course helping others to do the same.
His life is one of success, as he literally wakes up everyday with a huge smile on his face and does the thing that he loves.
But it wasn’t always that way.
And just twelve years ago when he was 22 years old, he was on a totally different path
As he says ” It was 2002 but it seems like it was just yesterday.
I was 22 and just the thought of what the next 40 years would look like terrified me.
I had tried some business ideas here and there and nothing seemed to work. It seemed nearly impossible to get ahead.
I had little savings, student loans, and credit card debt. I was so sick of being broke and not being able to afford to finer things in life or the freedom to follow my passion for travel and connecting with people.
But I was terrified to try anything.
A college dropout, I knew I would hit a glass ceiling in the corporate world.
Yet I had neither the time or money to afford more education.
I had resigned myself to thinking cynically about my future.
Talking to my co workers nearing retirement I saw my future as retiring on a little more than social security.
It was obvious speaking to them that despite all the hype around retirement plan they weren’t working in reality.
It sucked. It was a pathetic existence spending so much of my life doing something I didn’t enjoy.”
How The Dots Joined Up For Ace
At his lowest point, he was forced to make a decision.
He was fired from his company, broke and clueless to his talents and passions.
So he did something.
And then something else and by trial and error discovered what it took to build his first million dollar business.
And now if you were to ask him what the secret of success is he will say “Keep it simple. Provide more value than you take…your income is really defined by your value to society!”
So is it mind-set that holds so many people down, or a fear of trying something new?
And does he feel that he started at the right time in his life, or could he have started even earlier on his entrepreneurial journey?
Well let’s bring onto the show to start joining up dots, as we discuss the words of Steve Jobs in todays Free podcast, with the one and only Mr Ace Chapman
During the show we discussed such weighty topics with Ace Chapman such as:
How even as a small child he was aware of the value of money, and would look for ways of selling merchandise whenever he could in his neighbourhood.
Why in business we always look for ways of building a business from scratch, even though we wouldn’t dream of building a computer from scratch.
How he has always struggled with the negative chatter in his head, and now believes that the only way to shut up that voice is by taking big action.
How he now looks back at his life as an early entrepreneur and feels that was literally bumping into things in the dark.
He didn’t have a clue what he was doing, but loved the learning process!
How To Connect With Ace Chapman
You can also check our extensive podcast archive by clicking here – enjoy
Audio Transcription Of Ace Chapman
when we’re young, we have an amazing positive outlook about how great life is going to be. But somewhere along the line we forget to dream and end up settling join up dots features amazing people who refuse to give up and chose to go after their dreams. This is your blueprint for greatness. So here’s your host live from the back of his garden in the UK David Ralph
David Ralph [0:38]
Yes. Hello everybody. This is David Ralph and this is a join up dots and this is episode 378. Yeah, we’re flying through. And we’re starting to plan towards the 500th show and that 600 show. So we really are sort of getting things going. And thank you to all of you that are dropping your emails and voicemails and all those kind of things into show in your thousands is it’s a bit difficult to keep up with it, to be honest, but it’s a delight to have as well. And it’s a delight, of course to have today’s guest on the show because he is a man who is an entrepreneur, who has made millions buying and selling businesses for himself, and of course, helping others to do the same. His life is one of successes, he literally wakes up every day with a huge smile on his face, and does the thing that he loves. But it wasn’t always that way. And just 12 years ago, when he was 22 years old, he was on a totally different path as he says it was 2002. But it seems like it was just yesterday, I was 22. And just the thought of what the next 40 years would look like, terrified me. Now, I bet all of us have got that fault. I tried some business ideas here and there, and nothing seemed to work, it seemed nearly impossible to get ahead. I had little savings, student loans and credit card debt. I was so sick of being broke and not being able to afford the finer things in life, or the freedom to follow my passions for traveling and connecting with people. But I was too a fighter try anything. A college dropout, I knew I would hit a glass ceiling in the corporate world. Yeah, I had neither the time or money to afford more education. I had resigned myself to thinking cynically about my future talking to my co workers nearing retirement, I saw my future as retiring on a little more than Social Security. It was obvious speaking to them. But despite all the hype around retirement, they weren’t working in reality. Oh, that sounds terrible. Now, it sucked, as he says it was a pathetic existence spending so much of my life doing something I didn’t enjoy. And at his lowest point, he was forced to make a decision, he was fired from his company broke and clueless to his talent, and passion. So he did something, and then something else. And then something else and by trial and error discovered what it took to build his first million dollar business. And now if you were to ask him what the secret of success is, he will say keep it simple, provide more value, then you can take and your income is really defined by your value to society. So is it mindset hold so many people down? or fear of trying something new? And does he feel that he started at the right time in his life? Or could he have started even earlier on his entrepreneurial journey? Well, let’s find out as we bring on to the show to start join up dots with the one and only Mr. Ace Chapman, how are you?
Ace Chapman [3:17]
I am great. And I’m excited to be here with you david i love the show. I love the format and the questions you asked. So I’m excited to jump in today,
David Ralph [3:28]
when I’ve got a good question that’s just occurred to me as I was reading that introduction. Is he a proper name? Or is that some kind of you know, nickname is being?
Ace Chapman [3:38]
Yeah, yeah. So growing up, I’m a junior. So my full name is out in Chapman Junior. And eighth was my dad’s nickname. And so I used to be low Ace growing up. It doesn’t work. dropped the load now,
David Ralph [3:56]
as an adult that leads into some ideas that aren’t good. Yeah. So does this does it work for you? Is it is it one of those kind of positive words? Because it is, isn’t it? It’s the best, isn’t it?
Ace Chapman [4:09]
Yeah, yeah, I think so I get a lot of compliments. And and just people I think as a brand now. It sticks in people’s heads. They remember. They remember my name. Remember the website? Just Ace Chapman calm? Yeah, so i think i think it works. Well. It wasn’t necessarily like, oh, man, what, what can I do to attract folks? So I don’t know. It could be that some people may not like it. But I like it. So
David Ralph [4:43]
I like it too. And I think you should create a branding chase be ice and look people to you. Because Because you have got one of those personalities, really we’ve only just connected. And we had a bit of a technical issue to to connect, but you were just kind of, Oh, well, it’s it’s gonna happen. And you’re just clicking your buttons and sorting things out? Are you pretty much stress free? Have you got to the point now where all the issues that you had when you was 22 years old, really seem like a world apart?
Ace Chapman [5:13]
Absolutely. And that wasn’t the end, I think, you know, one of the interesting things about that point, when I was 22, I’ve actually already done my first deal. So when I was 19, the reason I dropped out of college was I bought a stock market simulator, that was a little internet business. And I actually waited too long to sell it. And so this was like during the.com, boom and bust And literally, you know, bought this business scraped together money to buy it, it was really profitable. We were growing. And then the bottom fell out, advertising went away. And, you know, we sold the business, my main concern at that point was making sure my investors made hold. And it was a really tough thing. And so I kind of retreated after that, and into a job and felt like, Okay, this is the safe, secure thing. And getting into that and realize this is neither safe nor secure. And that led me back to doing deals. And so that was the stress at that point. But then, you know, I realized, hey, maybe this whole buying business thing can be something because it took me a while to even see that as an option. Nobody in the world of entrepreneurship, especially at that point, I never heard anybody talking about buying small businesses as a thing. And it took me meeting a mentor, that people just said, Oh, you should meet this guy, you should meet this guy. And nobody could explain to me what he did. And I’m like, So what exactly does he do? And you know, I’ve done a couple of deals and still didn’t have a vision for what I was doing. And met him was like, so what do you do? I nobody said to know, and he told me, he flipped hospitals.
David Ralph [7:02]
Right? We’re gonna stop you. Because you were dropping so many nuggets, man. But I’m thinking I’m gonna go every direction. So what if we took you right back to the sort of little ice? Well, you know, what, Have you always been entrepreneurial? Because it seemed to me the key point to that statement was at a very early age, you realized that the root of an employee was riskier than making your own economy?
Ace Chapman [7:28]
Absolutely. And yeah, I mean, even going back, one of my first memories, as far as business, and my mom likes to tell the story, she gave me $20 to pay for my school pictures. And you know, when you’re five years old, $20 is like an infinite amount of candy. And so it’s like, man, $20, this is a lot of money to go get some pictures. And we get the pitches back, and she’s given them out at church. And I, Mike, are you charging for these pitches, we pay $20. For these, we can’t just give these out. And we’re not going to charge for these pitches. And so after begging and even getting to the point of crying, she agreed to let me sell my pitches for 25 cents and 50 cents apiece. And that was my first little enterprise. I’m not nearly as cute. Cute enough to sell my pitches today. But it worked back then.
David Ralph [8:23]
And was fat about the money or was it about the activity? What what sort of thrilled you?
Ace Chapman [8:31]
I really think I’ll A lot of it was understanding how money worked. And you know, it’s something that I think my parents were surprised by. But yeah, just understanding Okay, if we, if we spent that money, let’s figure out how we can get it back. And it was it was a lot of fun. For me, I love whenever you have
David Ralph [8:58]
you have five children, five, you know that focused on money or you
Ace Chapman [9:03]
know, focused on money, I think it was just a really fun, it was a fun thing for me. And you know, the activities I enjoyed, were around that. So I remember vividly setting up little candy shops and that kind of thing. When we had family affairs people came over for Fourth of July or Christmas or whatever, I would have things to sell. So yeah, that was that was my idea of just a weird way of having fun. So yeah, I enjoyed that.
David Ralph [9:36]
But it’s not fun, right. So I think he’s absolutely perfect. And we see this every day. But the whole mantra to join up dots is be looking back at your younger self and realizing that all the clues were there of the things that you should be doing later on in life, but you just forget somewhere along the line and you go for the responsibilities or the kudos, or the money or whatever it is, until you get to a later stage where you are God, you know, I should be doing this. It’s not my daughter. Now, if she ever listened to this show, she’s gonna kill me, hey, she is a trained lawyer or barrister or whatever. And she went through university. And when she got a higher degree, I mean, she got a higher degree. And in this country, she’s in like the top 2% of her whatever she does, I don’t really know what she does. But we were talking to her the other day, and she was saying, I would like to run a sort of a florist. I would like to run a nursery, you know, a passion for looking after gardens and flowers is our key essence. But she’s gone a million miles away from that. And actually, she’s in a job now that she doesn’t like. So did you see about with sort of people around you. But that is a common failure of us all we forget that essence of what actually we enjoy, when no money is around, that we just love doing?
Ace Chapman [10:55]
Yeah, yeah. And that’s the interesting thing for me is that I really do enjoy the act of business. And, and that was one of those things. That realization when I was 22 is like, man, I was so miserable. Because I wasn’t in an enterprise and getting into into that mindset of men, regardless of the money, you know. And so when I say I think it’s sometimes it’s different from people that just literally just enjoy business. And I think some people think, Oh, well, it’s all about the money. And you know, you got to go and be profitable. But even what I do today with helping people, by existing profitable businesses, I love it, I enjoy it. And regardless of the money, I love the go shake deals and doing due diligence, doing valuations making offers, I enjoy that.
David Ralph [11:48]
He’s a kind of, I don’t know, real life monopoly what you’re doing, isn’t it because it’s, it seems when I was doing research on you, it seems sensible, instead of building a business from scratch, you don’t know it’s going to work, find a business that’s already got a customer base, value it and you start, you start around the curve, you’re not at the bottom, you actually around the curve, you’ve got people that are coming in buying your merchandise, and then it’s up to you to make it what you want. Is that really a simple practice, but most people should do look at things that are already out there and then look to sort of buy into them instead of starting from scratch.
Ace Chapman [12:27]
Well, when you look at everything else in our lives, we don’t try to build it from scratch. I mean, when you need a new computer, you go out and you buy it, you don’t try to learn how to build it and learn every aspect, when you need a new car, you go out and you buy it. And for some reason, in business, it’s the one area where not only do people not do it, but it’s not even a part of the conversation. You know, everything and in you know, you look at podcasts, you look at entrepreneurial magazines, nice 9% of everything is all around starting from scratch. And so you have millions of successful businesses out there. And the reason that it’s it’s just a great opportunity, and everyone should consider it right now is simply the fact that nobody is considering it right now. So it creates some tremendous opportunities where it’s cheaper, is less risky, you know, they’re just a lot of opportunities. And not many buyers that are even considering building their vision on top of something that’s already proven and profitable, and has those assets like customers and everything already there.
David Ralph [13:43]
I think he’s brilliant. And I think it’s very simple. And he made me think about the podcaster mode, because that’s obviously what I’m in. And I see it time and time again, where people are coming up with an idea but they’re passionate about and then they’re growing the audience, but I’m saying the clever people now. But a building shows around established entities, ie TV programs, or films, where there’s already an audience looking for that. And so they suddenly get the audience by switch direction and come over to them very, very quickly. I mean, it’s clever, isn’t it? It’s clever. But it’s one of those things as you say, you slap yourself in the head and think, why am I building that computer from scratch? when Microsoft or Dell do it quite? Well, I might as well just go over to them.
Ace Chapman [14:31]
Exactly, exactly. And there’s so much trial and error. in starting a business from scratch. And you look at those first five years where you’re most likely to fail, you’re not likely to make any profit that you’re able to put in your pocket, in your building every system from hiring people from marketing, to finance and operations, all those things have to be built completely from scratch. And so you know, just our whole philosophy is that the first five years of owning a business is the riskiest and the toughest, let’s let’s skip them. So I think there are a lot of people that would be amazing business owners, but they’re stuck playing the entrepreneurial lottery. And it’s like a code that you gotta get everything perfect, all of those different aspects really like a combination, you got to get it all tuned. And if you do, then you get to be in the 5% of businesses that make it if you don’t, then the odds are just greatly greatly against you.
David Ralph [15:35]
But But what fascinates me with you, as was we’ve already touched on the younger version of you, and the fact that you had hustle and bustle running through you and you were willing to flog off your photos, which to be honest, you should have given away for nothing. So I’m so bad, bad on you.
Ace Chapman [15:52]
Bad young guy.
David Ralph [15:53]
But when you got older, you was in the introduction at you know, you and your own words, you was terrified to try anything? How did that mindset change? How did you go from that little kid that was going, Hey, we could do this, we could try that to the person that we literally was was stuck.
Ace Chapman [16:13]
I think it’s that voice in the back of your head. And it never goes away. I think some people think oh, man, you know, the really this really successful entrepreneur, I know, they they’ve got it easy, they don’t, you know, have all the pressures and everything that I’m considering. But, you know, just society ends up building these ideas and your subconscious through friends and family and movies and books and just you’re constantly bombarded with the way things are supposed to be. And so there’s a specific path that’s laid out and it’s go to college, get a job, you know, save up for retirement, and that’s the easiest buy house and all of these things. And those voices are always in in the back of your head with, you know, kind of that chatter saying, What are you doing, you know, you’re off on this path, do you know, who knows where this is going to end? And I think that has been that was something that I struggled with a lot at that point. And has been something that that over time, I’ve been able to kind of quiet down and how have
David Ralph [17:26]
you shut up that voice slightly.
Ace Chapman [17:29]
I think you’ve taken action, you know, one of the places where I got it, again, recently was making the decision to you know, I had to build and I lived on the top floor rented out some apartments and stuff on the on the bottom two floors. And you know, I was really proud of this place. And you know, just my thing, and you know, had several cars and and just have built a certain kind of life. And then I decided to sell all of it and kind of be a live a little bit of a nomad lifestyle, and, and actually be homeless. And I, when I sold that place I sold like everything that was in it. Like you can keep everything I’ll get, I’ll take out what you don’t want, but you can keep everything in here. And that was one of those times where that voice was like, What are you doing? You can’t not have a house like you gotta have a house. Like that’s just the rules. That’s the way it works. And but I think taking action, in spite of that voice, eventually, quad sit down, and then you start to see Oh, no, everything is all right. I think for most people, you know, especially when you’re thinking about starting a business. The vision is like, okay, either I’m going to be successful, everything’s gonna crash and burn, I’m gonna go into bankruptcy, I’m gonna lose my kids and my wife and I’m going to be homophone. Now. It’s like that vision of complete Dire Straits and sleeping on the sidewalk begging for money. And the truth is that that’s really, really unlikely. And you know, the other extreme is really, really unlikely. And the, I think, the more you take action and kind of face those fears that nobody really talks about,
that nobody really wants to go there afraid. It’s like, this is really what I’m afraid of, I’m afraid that I’m going to be sleeping on the sidewalk.
It gets easier and easier. And you’re kind of proving to your brain that, yeah, yeah, we can do this and make things happen. And they’ll be tough times. And we’ll figure it out and be smart enough, and we can anticipate exactly what’s going to happen. But we’ll figure out a way to continue down the path.
David Ralph [19:51]
I’m gonna play some words that normally I’ll play later on in the show, but you’ve let us in perfectly your professional ways. you’ve, you’ve done it. So these are the words. Oprah Winfrey said recently, and it really sort of highlights where we are in the conversation, Oprah Winfrey,
Unknown Speaker [20:06]
the way through the challenge is to get still and ask yourself, what is the next right move? not think about, Oh, I got all of this stuff. What is the next right move, and then from that space, make the next right move, and the next right move, and not to be overwhelmed by it. Because you know, your life is bigger than that one moment, you know, you’re not defined by what somebody says, is a failure for you. Because failure is just there to point you in a different direction.
David Ralph [20:38]
Is that how you lead your life of a wise words
Ace Chapman [20:42]
are those are tremendously wise words.
It’s amazing. Now looking back to how much I struggled with that. And I think I struggle with it even today in different ways. But I definitely feel really centered really present, a really enjoying each day as opposed to projecting forward. And as an entrepreneur, I think for anybody, that’s a valuable thing. But for entrepreneurs in particular, to be able to really focus on today, being present in the journey, it’s something I’m always teaching my my clients that are looking to buy a business. And we’re going through each step of that process. And of course, that’s one of those things was like, Okay, I’m ready to own the business, I’m ready to own the business. But the more you can get present, and when we’re creating deal flow, like really be focused on that when we’re talking to sellers and building those relationships, just be focused on on honing your negotiating skills, or doing the valuations, honing that and really being focused on that. That makes you a lot better entrepreneur.
David Ralph [21:54]
So So do you go with what she’s saying that you’ve got to become quiet, you’ve got to listen to your gut intuition. And if you do, where do you do it? Do you do it in the shower? Do you sit in your seat? Do you meditate? Or how do you actually become quiet?
Ace Chapman [22:11]
Yeah, one of the things that I do is meditate, I try to do it twice a day, a lot of I’m a lot better at doing it in the morning, then at night, but I know when I do it. It it’s it helps. I mean it definitely It’s amazing. Some of the things that after meditating just start to pop in my head and the clarity that you get. So for me, it’s a lot of meditating. Even when I’m talking to a client, I’ve started to really kind of Hush, my chatter and just take in exactly what they’re saying. That’s one of those moments, that is really a quiet time for me. So I can sometimes people don’t say what they are really mean, basically. And and the reason behind where they’re coming from. And, and so that’s that’s another one of those times. But yeah, I think that that’s really important.
David Ralph [23:13]
When you say that they don’t say what they mean, I know exactly what you’re saying. But I’ll be interested to see how that influences your own decisions when somebody saying words to you. And obviously there’s money on the table at these times. How do you go by what you feel that by mean, if they’re not saying it? How do you make that ultimate decision?
Ace Chapman [23:36]
I asked questions. And I think a lot of it, it’s about asking the right questions, more than it is trying to make an assumption. So you know, somebody may be saying something, because they’re coming from a place of fear, and really what we need to address, is it what they’re talking about, but we need to address the fear and where that that’s coming from. in you know, in the world that I deal in. It’s a, it’s a because nobody talks about buying and selling businesses. It’s just a totally different skill set. We’re not in a way of thinking it’s a totally different way of thinking, when you’re going out and you’re being a dealmaker, as opposed to an entrepreneur, we’re not as focused on, you know, coming up with marketing strategies and things like that we’re focused on how do we create enough deal flow to find an amazing deal? And how do we do due diligence to make sure we’re not stepping on any hidden landmines. And then there’s that overarching, just kind of a way of seeing the world where you’re not so much looking for opportunities, as you’re looking for assets, that can give you the cash flow that you want to generate. And so even when you buy the business, what you’re looking for is growth through acquisitions, and mergers, as opposed to trying to go out test things and figure out what’s going to work. So yeah, it’s it’s, a lot of what we’re dealing with is that mindset, mindset shift, and getting people comfortable with that new way of thinking.
David Ralph [25:13]
Now, obviously, as you’re talking, you’re very knowledgeable, because you’ve been doing it for a while. But I know one of the things that holds people back is the fact they listen to you and go out. It’s all right for ice Chapman. He’s got he’s got a great name he’s got, he’s got everything going for him. And he’s got all that knowledge base. But he didn’t have that at the beginning. So how did you operate in the beginning? How differently was it then by now?
Ace Chapman [25:39]
Oh, man, I was, I was walking through the dark. That’s the best way when I look back at especially compared to now, when I look back at kind of younger me figuring this stuff out. It’s, it’s really kind of bumbling knocking things over the hit like, okay, don’t do that in boy that Kevin over here tried something else. And I think everybody wishes that they could figure things out a little quicker. And, you know, I think that’s a lot of what, what I provide folks now, which is awesome. But even no matter what, even if you’ve got somebody, you still gotta kind of bump into things and in the dark and figure it out and grow. And that’s, that’s definitely a part of being a business owner.
David Ralph [26:25]
And teach you think that is one of the things that people really have to accept at the very beginning, you know, growing the show, for example, I would say at the moment, I spend 50% of my time doing stuff, but I should have been doing at the time, but I didn’t realize I needed it until later. And my wife keeps on saying, Why are you doing that? You didn’t do it? In the old days? Yeah, but I didn’t know I needed it in the old days. And if I didn’t know it, I would have done it. So we’re not to do it now. So if that’s sort of trial and error basis, is that really what? What does sharpen your tools? Is that what everybody needs to go through to really establish those foundations of a solid business?
Ace Chapman [27:04]
Yeah, yeah, I think that some of it is, is is that and then obviously trying to learn. So you don’t want to have to make every mistake, you want to be willing to go through the trial and error. But even when you’re learning things, even if you have a mentor, you know, I always even with my folks, like, hey, go try this, I want to try it. And I want you to come back and I, you know, I’m happy if it doesn’t work, because we’re going to figure out how to make it work, but think the world is always changing. So even a mentor telling you, this is what you should do. That’s just something to go test and figure out and bring back the results and try to figure out how to improve them. So it’s been in that constant state of improving I think, is what makes what we do so, so exciting.
David Ralph [27:52]
And so it becomes play to you does it when when you’re trying stuff, even if it doesn’t work, you know, okay, that didn’t work, but I’ll try a different avenue. And I shave a bit off here. And I cut a bit off of the veil. Is it is it also creative playing?
Ace Chapman [28:05]
It is it is I think enjoying that. Art, basically, is part of the cool thing of being an entrepreneur is the fact that, you know, you do have these parameters, when you’re going into a job. And you know, the boss is saying, Hey here, here’s the rules to plan in my world, it’s their world, they’re inviting you in to play a bit. But you’ve got to stay within their rules. When you’re going out on your own. I think some people subconsciously still think that there are rules. You know, I’ve talked to people, even when it comes to buying a business, it’s like, well now like it get that just that it can’t be that simple or that easier, you know, just this, it has to be the tough thing is the way that things have to operate. And so absolutely, they are just an endless number of, of opportunities that exists, that unless you attempt things and are willing to fail, you’ll never find out there.
David Ralph [29:15]
Just before you I was recording a show with a lovely lady, and she was talking about the invisible Handbook, where no matter where you go, there’s sort of a rules, there’s a guidance, but you feel is what how you should operate. And nobody tells you it you go into a company and you kind of buy into what everyone else is doing, even though that company has taken you in. Because I think you can be creative and inspired and all that kind of stuff. But when you kind of think Oh no, this isn’t what I want to do, because everybody else is doing something different. Did you see that as something that we’re ever going to break free from that invisible Handbook of this is how it’s done. Because the real movers and shakers they write their own handbook Don’t lie.
Ace Chapman [29:57]
Yeah, yeah. And, you know, like I said before, I think that we look at those movers and shakers and think, oh, they don’t, they don’t deal with that chatter at all. They don’t deal with people around them, you know, sometimes, or wives or kids or whatever. It’s like, people will literally just say, you can’t do that. What do you do? And that’s not that’s not possible. And so you see a lot of people that do kind of those outrageous things like Richard Branson trying to go around the world and a balloon and just the outrageous, outrageous, but I think a little bit of that is just constantly breaking out of, there are no rules.
David Ralph [30:43]
I’m gonna I’m gonna do something now I said, I’m gonna bring this up. I’ve just recorded an episode of, we do bonus episodes on join up dots now where I will answer customers, say, customers, listeners emails. And what I’m going to do, I’m going to bring up an email that I’ve just had from a listener, I’d be interested in your response. So I’m doing this totally on the fly, you don’t know that this is going to occur. But this is the email that I received. Okay. And I’d be interested in your response on this because I gave my own response on the bonus episode. Now, David, I’m an avid listener of the show and love the way your conversations are deep insightful, but great fun, too. And I’m trying to think big. And Ben, think bigger as you suggest. The problem is, I don’t seem to be able to truly believe in myself to do this. Do you have any suggestions? Karen, Linda’s Melbourne, Australia. And it’s, it’s an interesting statement. So I thought I’d bring it up into the show. Because all the real movers and shakers say that dream big and Ben dream bigger. But the people that haven’t made that first step, that’s two biggest step. That’s a step too far. So what would you suggest to Karen? And as I say, I’m just throwing this out here.
Ace Chapman [31:52]
Yeah, yeah. Well, I think a couple of things, one of the things that has that has really helped me is being able to do a lot of meditating. And and once you’re listening to the chatter that comes up, when you’re kind of considering an idea, and paying attention to what what if, because most of the time, it’s not just an emotion, you know, we feel a fear or we feel like oh, that’s not possible. And so doing a doing just meditation, where you ask yourself, why, you know, why, why isn’t that possible? is huge. But I do think that’s starting somewhere. And so I almost went back up to questioning the question. For most folks, it’s not an issue of not dreaming big, it’s an issue of not getting started. So doing something where you just try something small, I think is really the first step. So I would be a little curious as to as to where he is, as far as being an entrepreneur, I think some people start to think big, and that that causes a whole nother issue of overwhelm. And they never get started with just that first tiny step, which is, which is what we were talking about earlier, getting excited, not just a kind of like, Oh, well, I’ll go do this. But really being focused and excited and present, when you’re looking at that, that very first step to doing anything and even enjoying it at a small level. Because that’s what’s going to build the confidence and the enjoyment of doing it at a at a bigger level.
David Ralph [33:42]
Because I responded with, if you’re going for a five mile run, then when you stop, see if you can do another five miles, see how far you can push yourself and be focused on improving individual tasks. If you’ve got a piece of work in your desk, and you think it’s going to take two hours, can you do it in our I mean, could you spend the other hour doing another Charles Can you sort of push yourself? And I think it’s that that mental training, but makes you realize but Oh, yes, I didn’t think I could do that. But I can do that. And ultimately will lead to the big stuff.
Ace Chapman [34:15]
Absolutely. Yeah. So we’re in agreement, man. That’s exactly it.
David Ralph [34:20]
I’m gonna change my name to I’m gonna I’m gonna call myself speed Ralph or something. Like over the ice, and I didn’t like the Joker. So that’s, that’s what I’m gonna call myself.
Ace Chapman [34:30]
Yeah, I like it. I like it. Yeah, Spike Ralph
David Ralph [34:34]
pack of cards, something in your life? What? What still scares you. Because you are literally in the unknown. Every day, you’re doing stuff that could go wrong, you could buy a business, but you invest your money in and you find out it’s not a good business. So are you past the scariness? Are you excited by it? Or are you still dragging it around with you?
Ace Chapman [35:00]
So when I’m looking at a deal today, a lot of what is going through my head is not so much what’s going to be the total outcome. It’s a lot more of when, you know, how can this fit into my overall portfolio? But of course, I mean, you can you can, you can have that one deal that that ends up being a complete disaster and everything goes downhill. And I’m probably more at a point internally where I’m excited about kind of growing in and pushing and doing a lot more deals than I am fearful of that one deal. That kind of goes bad. Probably the next big challenge for me. And the thing that I’m focused on, is spreading the word of this cost, this whole concept of fine businesses. So if there’s anything that I’m fearful of, it’s just figuring that out, because I said, that’s a tough, big goal. But right now, I feel like nobody, very few people are talking about this as an option. And it’s a disservice to a lot of entrepreneurs, that would be great business owners. But you know, they’re trying to they’re going through that that gauntlet of the startup. So, yeah, I think that’s where maybe fear would come in as a big goal like that.
David Ralph [36:37]
But let’s play some words now, but will take us to the end of the show. But really sort of emphasize when you find that thing in your life that you just know, you’ve got to do. And it’s quite obvious you have found your thing. This is Jim Carrey,
Jim Carrey [36:50]
my father could have been a great comedian, but he didn’t believe that that was possible for him. And so he made a conservative choice. Instead, he got a safe job as an accountant. When I was 12 years old, he was let go from that safe job. And our family had to do whatever we could to survive. I learned many great lessons from my father, not the least of which was that you can fail at what you don’t want. So you might as well take a chance on doing what you love.
David Ralph [37:18]
And the words that play to your spirit.
Unknown Speaker [37:22]
Ace Chapman [37:26]
Yeah, I mean, I’ve, I’ve seen it. I’ve talked to people who come to us for help, that have have been through that same thing. It says that and man like that, it’s it’s, the sooner you can have that realization, the better.
David Ralph [37:44]
And what lessons did you learn from your father was your father entrepreneurial was well,
Ace Chapman [37:50]
he was a ministry. And he ran a ministry called inner city ministries for a really long time. And I think one of the biggest things I did learn and see was it was him, having employees, managing employees, and what that relationship was like, but I think more than anything is it has been his faith in just me trying things like no matter what I come up with, is like, Yeah, go for it. And I remember I mean, I had gone to a, you know, I don’t come from inner city schools and gotten into a prep school. And, you know, obviously went to college and ended up at a top 20 school here in the US. And I remember that decision of sitting down and even talking to him and my mom about me dropping out of school. And that was a really big, big deal for my family. And so, honestly, I wanted him to say, though, like, No, you can do that. That’s outrageous. That was it, that would have made the decision easier. For me, I had some investors that were interested in investing in the business, and they were like, Hey, we won’t invest unless you are doing this full time. And so I went to him basically expecting him to tell me, no, you gotta finish college first. And taking the burden of that decision off of me. And you know, he basically said, Hey, I trust you, I trust your judgment. Go if you feel like that’s the right thing, you know, you make the decision. And I think having somebody like that this just, even when I come up with the most To this day, we have much on a regular basis, which is one of the main reasons that I’m in Tennessee right now. But, you know, I have these outrageous things. And he’s like, Oh, yeah, that sounds good. Good. Try it, see
David Ralph [39:53]
how it goes? Does he sort of thing is he’s having one of these moments he he’s, he’s having one of those moments that only ice can have.
Ace Chapman [40:03]
I think at this point, he’s gotten used to it, I think it was bore a shock. When I was younger, just you know, about to go by this business or bad to go do this. Like, what? Because he didn’t, he wasn’t in the business world and didn’t come from the business world. But I think now, it’s more just expected that there’s going to be something absolutely outrageous that comes up.
David Ralph [40:30]
And then what is your business ultimately going to go? Obviously, you want to take the platform so that more people are talking about it? But is it something that is totally scalable, are always Ace Chapman gonna be the central part to it? Are you going to be the hub, but everything sort of leads from?
Ace Chapman [40:48]
You know, I am, it’s one of the things that I’ve made a conscious decision that I really want to be able to touch my client and build a personal relationship with them and ensure their success. So we have a very high success rate. You know, you can search my name, you don’t have people out there saying, Oh, you know, I tried this stuff, and it didn’t work. Because we make sure that it works. And so six years ago, after doing deals for 10 years, when I decided that I would start working with other people, a lot of the reason was, I wanted to invest in more deals. And the downside to doing these smaller deals is that it does take some involvement, so you can’t just have 100 businesses. So my scalability is more around building relationships, investing in deals that my clients do, and growing my portfolio of businesses that way, what I think a lot of people get surprised by and I’ve had tons of people contact me and say, Oh, you should do a membership site, and you should scale and you should, you know, can grow this thing by doing seminars, and all these kind of things. And, you know, at my center, what I really enjoy is doing deals, and that that gets me more and more removed from going out and and working with clients and talking to sellers and buying businesses, which is is really kind of what I enjoy the most.
David Ralph [42:22]
He’s interesting, though, isn’t it, but I hate that time and time again. But at the beginning, when you’re getting something going, nobody has got any advice for you at all. You’re just on your own. And then suddenly, you get advice left, right, and center from people. And most of it is seems to be on their own agenda. somehow they’re giving you the advice, because you should be doing this, you should be doing that. But more often than not, I get a lot of advice now. And at the beginning, I think anything and I get all these advice like oh, yeah, okay. Thank you. Thank you very much. Yeah, I take them both. And probably 1%, I actually do anything about and Bose one sense had been the big one, you know, we we were seven days a week show. And I got a Facebook message from a guy. And he was a listener, never met him. And he said, I think you should go down to three days a week, because you’re overloading people with value, and I can’t listen to it. So ultimately, you’re detracting from the value, blah, blah, blah. And that was one bit of advice. I thought, I gotta dig into this. And then I went for that. And we’ve changed to three days a week, and things are sort of even better now. Because people’s got time to digest the content and move on. So when you you get all that advice, because obviously you do how do you battle back at them? Do you go? Oh, yeah, okay, I’ll think about that. Or do you go No, not doing it. He’s just not my thing.
Ace Chapman [43:42]
Every once in a while, for the most part is an automatic No. But every once in a while something slips through the cracks. And I’m like, you know, maybe that’s right, maybe that is the thing that I need to do next. And maybe I need to shift over to that. But the thing that you still fall back on is exactly what you said. I mean, everybody has their own agenda, where they are basically trying to sell you something. So you know, for the it’s like the person with the hammer, where everything looks like a nail, like, obviously, what we need to do is hammer through this wall or whatever. So when when you talk to these people, their video guys, like, Oh, you need to be doing this with your video. And video is really the most important thing. When it comes to internet advertising here the reasons and it makes total sense, like, Okay, and then the next guy is like, oh, what you really need to be doing is Facebook advertising. And this is why and it’s a billion people on there and to the and that becomes the thing. So no matter what it is, everybody’s pitching their thing, and it can make total sense, but you got to understand that they’re coming at it from their perspective.
David Ralph [44:51]
But what we’re gonna do, we’re gonna play the words that really framed the whole show, and we created these show based on these words back in over a year ago. Now. Now these words were said 10 years ago, and they were as vitally important now as they ever were. This is Steve Jobs
Steve Jobs [45:07]
Of course, it was impossible to connect the dots looking forward when I was in college. But it was very, very clear looking backwards, 10 years later. Again, you can’t connect the dots looking forward, you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something, your gut, destiny, life, karma, whatever. Because believing that the dots will connect down the road, will give you the confidence to follow your heart, even when it leaves you off the well worn path. And that will make all the difference.
David Ralph [45:42]
So what do you believe in ice?
Ace Chapman [45:46]
Yeah, I look back. And it’s easy to have those times where you’re like, man, if only I could have known what I know, now 10 years ago or whatever. But yeah, does it comes together perfectly, especially if you have some vision, and you’re trying to work towards that vision. And so that’s what I really encourage folks is to just know, have an idea. And I think when it comes to thinking big, like we were talking about earlier, that envision can be huge. But it’s getting into the mode of doing those small things to work towards that, that will kind of allow it to come together. And then you start to look back and see that path been carved out. But it is a in the middle of it. That can be a tough thing to remind yourself. So I think it’s great to have good people around you that are motivating you to always be kind of focused on that goal and have some clarity there of what it looks like. But putting yourself in a position where the wind is at your back, and you’re not fighting against the wind to try to get where you’re trying to go.
David Ralph [47:08]
Did you have a big.in your life when you look back on it? And you go, yeah, that was it. That was that was the moment?
Ace Chapman [47:16]
Yeah, I think the biggest one for me, especially when it comes to my career is meeting my mentor. Because it just literally I hadn’t considered before at that point, that buying or flipping businesses or buying growing and selling businesses was a thing. You know, literally, it just wasn’t wasn’t a thing for me. And, or as a big part of my reality. So first, just meeting him on that level was was really huge and a mind shift. But yeah, he definitely took a lot of time with me, and worked through my thinking and and I had some things just growing up the way I did, where I didn’t realize that I thought like a poor person. And bottom line is he he worked through that with me, to to show me like, okay, and that’s why I’m a big fan of just asking questions, he would ask me questions like, okay, so tell me about your financial situation, our focus on that word, things like why do you think net worth is valuable? And, you know, just bright, like, Why can you pay bills with net worth. And so working through a lot of those things, that man just really changed my life put me in a position now, where, you know, I do have a tremendous amount of freedom. And, you know, not just freedom, as far as not having a job, but also freedom from a lot of assets that aren’t the right type of assets. So yeah, that that was a big adopt.
David Ralph [49:01]
And could you have a job again, if somebody came along and said, ice, we want you to work in his cubicle, answering customer service calls eight hours a day, and we’re pay you a million pounds a year or million dollars and pounds won’t be any good for you. When would you go? Yep, I’ll do that. Sounds great.
Unknown Speaker [49:20]
Unknown Speaker [49:23]
Media? Very simple answer.
Ace Chapman [49:27]
I’m sorry, what about five? Yeah, I just really, I’m at a point where my time is, is just infinitely valuable to me. And being able to do like, you know, I would just, I would be sitting in there like, man, there are people and clients and I’m missing out on what I’m meant to do. And these
David Ralph [49:51]
Ace Chapman [49:52]
actors can’t. I can’t imagine it. I can’t imagine it
David Ralph [49:57]
answers your question you are unemployable on?
Ace Chapman [50:00]
David Ralph [50:03]
I suppose that’s just before I send you back in time. That’s the last question. Do you do you think that because I I now believe that when you’re in a job, even if you’re in a job, and you think to yourself, I don’t want to do this job anymore? And I don’t think there’s anywhere else I want to work? That is the moment that you start making your leap. But when you become unemployable, mentally, even if you’re in a job, that’s when it starts moving in the direction you want.
Ace Chapman [50:31]
Absolutely. I mean, it’s, as I look back, I mean, it just doesn’t even cry. Think about the times where, you know, I went out on my own, I’m trying to do things and I’m thinking, Okay, you know, well as a fallback, maybe I could do this job as a fallback. And and, you know, you just hit that point where a job literally never crosses your mind, that’s an option at any point for any reason.
David Ralph [50:56]
Well, let’s send you back in time. Now, this is the end of the show. And you This is the part we call this sermon on the mic, when I’m going to send you back in time to have a one on one with your younger self. And if you could go back in time and speak to the young age, what advice would you give? And what age would you choose where we’re going to find out? Because I’m going to play the theme tune? And when it Phaedra, this is the Sermon on the mic.
Unknown Speaker [51:23]
Here we go with the best
Unknown Speaker [51:32]
Ace Chapman [51:41]
Hey, there, it’s good to man, you are a good look and do young guys. Great to see you read. So the first thing that that I know, at 19, what you’re focused on is what led you How in the world am I going to survive in the world, not by not having a degree because it’s so ingrained in us that you’ve got to have that degree in order to succeed. So the first thing I will tell you is that that is absolutely not the case. And everything is going to be totally alright. The second thing is not to try to fit into any social norms. You know, there will be people that want to put you in some kind of box and say, this is where you got this choice, this option or you know, that option. And that’s the path that you need to go down. And even as a business owner, will encourage you to see yourself as the the thing that you want to be not a box that somebody else wants you to do. And then the last thing I’ll say is spend more time traveling, spend more time enjoying yourself and doing the things that you want to do. And when it comes to business, you’re going to enjoy things like building deep relationships, while everybody else tells you you need to have this mass following and being build a business that is many people see as possible. But really following your own path. That’s what’s gonna gonna make you the happiest
David Ralph [53:32]
is how can our audience connect with you, sir?
Ace Chapman [53:35]
The easiest thing is just an email, shoot me an email to ace Ace Chapman calm, especially if you’re considering a business and you have specific questions about due diligence evaluations and blah, blah, blah. And but I’m also on Twitter, just Ace Ace Chapman on Instagram a stop Chapman. So feel free to reach out any of those places as well. Well,
David Ralph [54:00]
we’ll have over links on the show notes. Ice. Thank you so much for spending time with us today joining up those dots. And please come back again when you have more dots to join up because I do believe that by joining up the dots and connecting our past is the best way to build our futures. Mr. Ace Chapman, thank you so much.
Ace Chapman [54:17]
David Ralph [54:20]
Thanks for listening to today’s episode of join up dots brought to you exclusively by podcasters mastery.com. The only resource that shows you how to create a show, build an income and still have time for the life that you love. Check out podcasters mastery com
now David doesn’t want you to become a faded version of the brilliant self you or wants to become. So he’s put together an amazing guide for you called the eight pieces of advice that every successful entrepreneur practices, including the two that changed his life. Head over to join up dots.com to download this amazing guide for free and we’ll see you tomorrow on join up dots.