Episode Full Transcript

Length: 1:20:56
Host: Patrick Francey
Guest: Jim Beach

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  0:00 to 2:24 | Intro

  Patrick Francey (0:04):
  Hi there, and welcome to The Everyday Millionaire podcast. My name is Patrick Francey, and I am your host. I have conversations with seemingly ordinary individuals who have achieved extraordinary results in life and business. My intention is to inspire and help you learn and grow as guests share how they overcome challenges and celebrate wins.

  Patrick (0:42):
  My guest today is Jim Beach, a long time entrepreneur, award winning speaker, nationally syndicated radio host, and McGraw-Hill author. He wrote The Real Environmentalists: How Wayne Elliott and Other Capitalists Will Save the World to spotlight entrepreneurs building real solutions to environmental problems. Let’s get started.

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  2:24 to 5:52 | Who Jim is and why this book

  Patrick (2:24):
  Jim Beach, welcome to the show. If I’m meeting you for the first time and ask, “Jim, what do you do?” how do you answer?

  Jim Beach (2:45):
  These days, I’d probably answer, “I’m an author,” and hope to sell them a book. Most days I’d say I’m a radio host and leave it at that.

  Patrick (3:10):
  Let’s talk about the book. What is it about and why did you publish it?

  Jim (3:22):
  The book is called The Real Environmentalist. It celebrates entrepreneurs creating for profit businesses that solve the climate and environmental problems people worry about. I’m optimistic because I know the people solving issues like microplastics, bad water, and dying coral. We are solving a lot right now, and I want environmentalism to focus on doers and solutions.

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  5:52 to 9:21 | Capitalism, solutions, and Wayne Elliott

  Patrick (5:52):
  The topic is controversial. What’s true, what’s politics, and what should people believe?

  Jim (6:05):
  I don’t care who created the problems. I’m not going to deny the problems. I’m a capitalist. I believe in for profit solutions. I don’t think government is a good option, and NGOs can be worse. Small business is the ultimate solution.

  Jim (6:40):
  I met a guy named Wayne Elliott on my radio show. He buys 900 to 1000 foot ships like aircraft carriers, cuts them up, and recycles them. He also figured out how to recycle alkaline batteries, and helped get Canada up to 97% alkaline battery recycling. I wanted to write about Wayne, then found there are hundreds more like him.

  Jim (7:50):
  I researched and found 216 American for profit environmental businesses. I’m not a denier. I care about entrepreneurs solving it.

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  9:21 to 12:00 | The book’s messages and calling out hypocrisy

  Patrick (9:21):
  What message are you trying to give readers?

  Jim (9:35):
  Several messages. First, you do not need to lose sleep and believe the world ends tomorrow. Second, there are many ways to get involved locally with businesses solving cool problems. Third, I want to expose hypocrites.

  Jim (10:40):
  I used ChatGPT to generate lists of celebrities who talk the most about environmentalism and people doing real work. I contrasted the lists. We call it performative environmentalism. People perform for attention.

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  12:00 to 17:33 | Jim’s entrepreneurial path and radio origins

  Patrick (12:10):
  How did you get here?

  Jim (13:08):
  My goal was to be CEO of Coca Cola. I worked for Coca Cola in Japan, got my MBA in Japanese, came back, and they told me not to come back. At 23, I was devastated.

  Jim (13:35):
  I applied to architecture school and got in after pestering the dean. My parents said, get a job or start a business. I started a summer camp business. In 1994, I started camps at Stanford and MIT. Within nine years, we grew to 89 locations at major schools. We learned our target market was kids who struggled to make friends. That business grew and eventually I exited.

  Jim (15:50):
  I was offered a university position teaching entrepreneurship for nine years. I made a bet that I could start a business in a semester, cash flow positive, and repay startup capital. Students chose the country and industry. First year: Pakistan and furniture. I did it. That became a newspaper article, then a book deal with McGraw-Hill. The book sold extremely well.

  Jim (17:10):
  While promoting it, someone said I should have a radio show. That became a nationally syndicated entrepreneurship radio show.

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  17:33 to 23:02 | Why people do not execute

  Patrick (20:00):
  Not everyone executes. Why?

  Jim (20:20):
  Anyone can choose to be an entrepreneur if they decide to work hard enough. The limitation is the decision and the moxie to get up and do it. My wife started an Amazon business and made $76,000 her first year. Her friends watched, but none asked to learn. Many people prefer watching to doing.

  Patrick (23:00):
  People want change, but they do not want to change.

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  23:02 to 30:20 | Motivation, chips, and education

  Patrick (23:10):
  What creates that entrepreneurial spark?

  Jim (23:30):
  There has to be an impetus. Necessity, opportunity, or a chip on your shoulder. Those are top drivers.

  Patrick (28:10):
  What do universities get wrong?

  Jim (28:20):
  The professor system rewards publishing, not teaching. Education is broken. We should have AI teachers individualized to each child, and a human professor for deeper confusion.

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  30:20 to 37:58 | Bootstrapping and solving problems fast

  Patrick (32:30):
  How do you coach entrepreneurs to build profitable solutions?

  Jim (33:00):
  Every business must be profitable before you scale. I believe in strict bootstrapping. No office, no consultants, no expenses until required. You can test almost any business under $5,000. Creativity matters. Often, copy an idea and do it better.

  Jim (35:00):
  If you know anything about environmental science, chemistry, or materials, there are opportunities. The pattern is: solve one small version first, then the second, then scale. Do not jump straight into grants and big money first.

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  37:58 to 45:36 | Grants and the power of distribution

  Patrick (37:58):
  What about grants?

  Jim (38:10):
  If someone gives free money, take it, but focus more on solving the problem than raising money. You still need proof you can solve it.

  Jim (43:30):
  Differentiation matters. Anyone can be a podcaster. But with traditional radio stations carrying your show, it signals credibility and creates leverage.

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  45:36 to 53:12 | Mindset, introversion, and leadership

  Patrick (45:49):
  Where does mindset fit?

  Jim (47:10):
  You have to talk about it. You need drive to get off the sofa. Motivation varies.

  Patrick (50:00):
  How do you avoid loneliness as an entrepreneur?

  Jim (50:15):
  Lunch is the hardest part. You have to schedule relationships. I plan it months in advance.

  Patrick (51:04):
  Introvert or extrovert?

  Jim (51:15):
  I’ve always been 100% introvert. I learned to force interaction. I’d sit at the bar at restaurants so people would talk to me.

  Patrick (53:12):
  Leadership?

  Jim (53:30):
  The business will progress as far as your leadership allows. Consistency matters. Be honest. Say, “I haven’t done this before. Let’s solve it as a team.”

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  53:12 to 1:05:00 | AI, productivity, and infrastructure pressure

  Patrick (56:13):
  AI is changing everything. What do you think?

  Jim (57:21):
  People said the same about the internet. I think AI creates jobs. Businesses will pay for people who can use it well. Productivity should rise.

  Jim (59:16):
  It’s still imperfect. One out of three outputs can be wrong or needs guidance.

  Patrick (1:00:29):
  I’m surprised how few people use it.

  Jim (1:01:20):
  The blank prompt is scary. Start simple: “How can you help me?” and keep going.

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  1:05:00 to 1:20:52 | Closing messages and rapid fire

  Patrick (1:07:14):
  What message do you want to leave listeners?

  Jim (1:07:30):
  Get off the sofa and go be an entrepreneur. Reduce risk. Do not glorify risk. Spend less than $5,000 to test. Listen to archives for examples. Be better to the environment and clean up after yourself.

  Patrick (1:15:00):
  Your background?

  Jim (1:15:30):
  Mom was a nurse, dad a doctor who built a large practice. We talked about business at dinner.

  Rapid fire highlights (1:17:30):
  
  • iPhone
  • Grateful Dead
  • Favorite swear word: the F word
  • Favorite movie: Shawshank
  • Impactful books: Rand, Atlas Shrugged and The Fountainhead
  • Grateful for family

  Patrick outro (1:20:23):
  Please rate, review, and share. Email questions to CEO@REINCanada.com.