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Cameron Herold

Cameron Herold

Former hard-charging COO of 1-800—Got-Junk now coaches CEOs bringing a more collaborative style based on hard-won lessons


oDr. Ritamarie Loscalz

Listen-Podcast-Here


Most Popular to Share on Google+ and LinkedIN:

1)

Biggest mistake

“Our CFO kept telling us to be careful and he was worried about money. We kept saying not to worry about it, that we would push through it. Sure enough he was right. The big lesson is to use my ears and mouth in the same ratio they were given. Listen twice as often as I talk.”
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2)

Advice for leaders

“It didn't matter if I was right or not. What mattered is if as a company we were making the right decisions.”
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3)

WWRB?

"What would Richard Branson do? If he came into your organization for one day what changes would he make?"
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4)

Smart like a Billionaire?

"I remember seeing this billionaire at our tennis club in Vancouver. He was waiting for this young girl. He handed her a $50 bill. She sat down and started showing him how to leverage his technology and how to use certain tools on his MacBook and iPhone. It showed me that being the smartest person in the room often means asking the most questions."
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5)

Bad conventional wisdom

“People think if you just sell more you'll make more money which isn't true. You could sell more but your cost of goods sold and your overhead eats up so much of your revenue that you'd be better off getting a minimum-wage job.”
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6)

Realistic projections

“Take your projections and cut them by 70%. Can you make your business go and be profitable at only 20% or 30%? We're often way too optimistic with our projections. I call it the uninformed optimism in the startup phase and that's what gets us into trouble."
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In the audio, Cameron Herold shares:

- What he learned from a guy who was making $600,000 profit per day

- How to avoid the big mistake that almost brought down 1-800-Got-Junk before it's massive success

- His tip to get in with some of the top CEO and investor groups in the world

- What social network he's had the best success connecting with top CEOs (it's not the business network you're thinking)

- The circumstances where making more sales would be worse than a minimum wage job

- How to get past the dark side of ego + firm beliefs instead using them to your advantage

- He once told Uber CEO Garrett Camp the idea was stupid and what happened in the aftermath

- How he helped Elon Musk and Kimbal Musk before anyone other than their mom knew who they were

- What his dad told him as a child that still impacts him today

- The franchise that started his entrepreneurial journey and how he got promoted into the corporate office

Throughout his career, Cameron Herold has been instrumental in the successful sale, branding and integration of a remarkable 500 business locations with three major companies.He may be best known as a driving force behind 1-800-GOT-JUNK?'s spectacular growth from $2 Million to $106 Million in revenue in just six years. But this dynamic leader has been a entrepreneurial innovator since launching his first company at the age of 21.

His wide range of executive roles has given him expertise across all aspects of business, from strategic planning, operations, people, sales, marketing, call centers and PR. Combined with hands-on experience negotiating corporate acquisitions and developing numerous strategic partnerships, there are few real-world business challenges he hasn't faced.

Now, as the author of Double Double, Cameron mentors a select class of proven CEOs, entrepreneurs and their teams, helping them navigate growth, leadership, and building their own unique company cultures.

He reaches an even broader audience through his content-driven presentations to groups of entrepreneurs, speaking in over twenty countries, on five continents, in just five years. 

Cameron is a top-rated lecturer at the EO/MIT Entrepreneurial Masters Program and a powerful and effective speaker at EO/YPO & Vistage events around the world.

Additionally, he landed over 5,000 media placements in six years - including coverage on Oprah, New York Times, Wall Street Journal, Inc. Magazine, Fast Company, Fortune and 17 spots on Dr. Phil.

Some Shareables from Cameron Herold in this episode…

#1 path to growth

"I called the last chapter of my Double Double book, ‘Letters to my 16-year-old self’. I wrote the business lessons I now know that I wish I'd known when I started my business journey. The biggest thing I do is not take myself so seriously and have more fun along the way. I remember at the end of the day that none of us are getting out alive and this is just what we do to make money. The seriousness doesn't help you get any better results."

Biggest mistake

"Brian, CEO of 1-800-Got-Junk, and I didn't listen. We were very strong drivers, aggressive and firm in our beliefs. We often steamrolled over people who had dissenting opinions without knowing we were doing it. We had a head of finance who reported to us. He was very quiet and diminutive. He was very passive. He kept telling us to be careful and he was worried about money. We kept saying not to worry about it that we would push through it.

Sure enough he was right. What Brian and I wish we would have done is to listen more actively. We should have asked more questions to understand where he was coming from instead of always insisting we were right. The big lesson is to use my ears and mouth in the same ratio they were given. Listen twice as often as I talk."

Advice for leaders

“You hired really smart people. What if they’re right? Approach every discussion to understand where they're coming from. Don't argue to be right. Seek to understand them more. It didn't matter if I was right or not. What mattered is if as a company we were making the right decisions.”

Favorite part

"I've been blessed to come inside some incredible organizations and learn from those top CEOs. Last week I was on site in the Bahamas working with this group of 60 CEOs. I got to have lunch with some of them at an elite hotel and restaurant called Graycliff. I got a tour of the third-largest wine seller in the world and an understanding of how they built the business and brand.

About two weeks ago I had dinner with a guy who at his peak was doing $3 million in revenue per day, $600,000 of that per day was profits. He was in an all cash business operating in all 50 states. He was buying all of his product from the US government. At the time he was arrested in 1991 he was the largest drug dealer in US history. I was learning from him how to build an empire in an industry I didn't previously understand.”

“Freeway Rick Ross was buying all of his product on consignment from the US government that had been seized in the Iran-Contra. He would get the product first and pay them back with the sales proceeds more than he would've paid them if he had paid upfront. This was great for cash flow. All too often we attempt to negotiate price. Rick Ross understood to negotiate terms.

The other big insight was his employee and customer relationships. All of his employees carry guns so a fight could be very detrimental to business because the police would come in and shut him down. He needed to solve all his employee and customer disputes using core values. I thought it was incredible he understood how important core values are in an organization.”

"I'm often the expert going in to speak at these events. But I get to learn from the CEOs who are being vulnerable. It's powerful to be around people who wake up every day wanting to get better.“

Weirdest thing

"I went to Burning Man for the first time in 2007 because 3 CEOs who didn't know each other all invited me. I introduced them to each other. Before that, I didn't know what Burning Man was. Now I've been five times. It was bizarre because it ripped me out of my comfort zone. I saw people who I knew were powerful and successful letting their guard down and that's when I realized I was taking myself too seriously."

Counterintuitive

"A couple of things. One is raise my prices higher than I think they should be. A second would be firing some clients. I just got rid of some people who I did not enjoy spending time with. I don't have any coaching clients who are negative drains on me.”

Bad conventional wisdom

“People think if you just sell more you'll make more money which isn't true. You could sell more but your cost of goods sold and your overhead eats up so much of your revenue that you'd be better off getting a minimum-wage job.”

"If you're going to sell your time as a consultant, Only about 35% of your time will be billable time. 35% of your time you'll spend managing your business but nobody’s paying you to do that. Then about 30% of your time, you'll be doing marketing and sales to generate clients. So think about what does your hourly rate need to be if you can only bill 15 hours per week? Does that add up to enough money over the course of the year?”

“At the end of the day you have to charge what you want but you can't think of your self as a commodity. You have to add more value."

“Have more fun along the way. The seriousness doesn't help you get any better results.”

"The starting point for my business career was when my father told me as a child that having a job was a really bad idea and I should always want to work for myself."

"I was told jobs weren't very safe because what happens if the boss comes in one day and says, ‘You're fired!’ Then you're kind of screwed."

Learn more about Cameron Herold:

http://CameronHerold.com

Type in Cameron Herold on TED Talks to find his TED Talk.

His book Double Double on Amazon.

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