In this episode of the Amplify Your Business podcast, host Lance Johnson interviews Lonnie Sciambi, a seasoned entrepreneur and business advisor. Lonnie shares his extensive experience in entrepreneurship, discussing the importance of understanding market needs, building a strong company culture, and the critical role of cash flow in business success. He emphasizes the need for entrepreneurs to embrace risk, conserve cash, and surround themselves with supportive people. Lonnie also shares insights on investing for passive income and offers valuable advice for young entrepreneurs starting their journey.
With over 30 years of experience in the world of small business, Lonnie has worn many hats—from launching and selling companies to investing in startups, and even leading turnaround efforts for struggling businesses. In this conversation, Lonnie shares invaluable insights on entrepreneurship, the critical importance of cash flow, and how to build a thriving company culture. Whether you’re just starting out or are a seasoned entrepreneur, Lonnie’s advice is relevant and packed with wisdom.
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Lonnie Sciambi
LinkedIn: Lonnie Sciambi
LinkedIn: Value Force, LLC
Website: https://www.thevalueforce.com/
0:00 – Introduction
0:24 – Meet Lonnie Sciambi: The Entrepreneur’s Yoda
1:51 – Lonnie’s Journey: From IBM to Entrepreneurship
4:10 – Cash Flow and the Importance of Value
5:39 – Lonnie’s Business, Value Force
7:33 – Challenges Small Businesses Face
9:38 – Understanding the Target Market
11:18 – The Role of Company Culture in Success
14:46 – Lonnie’s Story About IBM’s Culture
18:00 – Lessons from Building and Selling Businesses
22:24 – The Role of Luck in Business Success
23:14 – Advice for Entrepreneurs: Market Deep, Not Wide
26:29 – Generating Passive Income
30:44 – Evaluating Business Opportunities
32:48 – Advice for Young Entrepreneurs
36:27 – Outro