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Episode 242: Lee Benson – Your Most Important Number, MIND Methodology

Lee Benson, the Serial Entrepreneur and Bestselling Author, joins the show to share his journey from getting kicked out of his house in high school to selling Able Aerospace to Textron Aviation for 9 figures. Hear how to grow your company to hundreds of employees, sell your business with a big payout, find Your Most Important Number with the MIND Methodology, play music by ear, and keep going during an ultramarathon. This episode covers everything from aerospace companies to guitar solos. Here’s a small sample of what you will hear in this episode:

• Why did Lee go to 5 different high schools
• How was his experience being financially independent in high school
• What “A” segue
• How did Lee come to own Able Aerospace
• What is the MIND Methodology
• How do you find your most important number
• The Mental Gym
• How did Lee become friends with Jack Welch

Connect with Lee on LinkedIn and TheMINDMethodology.com.

Enjoy the shoooooow! Check out the show notes below for much more detail. You can also find the full transcript here.

Show Notes

• Intro & Growing Up
  • [0:28] Email me at max@maxpodcasting.com to save time with your high-quality podcast and use it as a business-building tool
  • [0:38] Connect with Lee on LinkedIn and TheMINDMethodology.com
  • [2:55] Why did he go to 5 different high schools
  • [3:45] HA!
  • [3:57] Foundational or Formative
  • [4:01] How was Lee’s experience being financially independent in high school
  • [4:18] Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell & Lee Benson
  • [5:05] Emerging Adult
  • [5:40] Why did Lee’s parents kick him out
  • [6:40] Chevy Blazer
  • [6:59] What’s the biggest adjustment going out on your own
  • [8:11] Entrepreneurship

• The Able Aerospace Story & MIND Methodology
  • [8:45] What “A” segue
  • [9:12] How did Lee come to own Able Aerospace
  • [10:16] Debt, Revenue, Equity
  • [11:02] Spokane, WA
  • [11:10] Paper Route!
  • [12:43] What does Able Aerospace do
  • [14:41] Gross Profit
  • [14:51] What is electroplating
  • [14:58] Merriam-Webster
  • [16:20] How do you grow a company to hundreds of employees
  • [19:17] Return on Investment (ROI)
  • [19:41] CEO (Chief Executive Officer)
  • [20:17] Gross Margin
  • [21:40] Not so fast!
  • [22:01] How do you sell your business with a big payout
  • [23:02] Private Equity (PE)
  • [24:34] Textron Aviation
  • [24:47] Execute to Win (ETW)
  • [26:11] What is the MIND Methodology (Most Important Number and Drivers)
  • [26:48] Your Most Important Number by Lee Benson
  • [27:09] 4DX (4 Disciplines of Execution), OKRs (Objectives and Key Results), Scaling Up
  • [28:13] Profit, Cash Flow
  • [28:19] Nonprofits
  • [29:49] How do you find your most important number
  • [30:04] EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization)
  • [30:36] Solopreneurs
  • [30:53] HR (Human Resources)
  • [32:04] Qualified Leads
  • [33:32] How easy is it to roll out the MIND Methodology
  • [35:52] So excited to speak at Podcast Movement 2023! It’s August 21-24 in Denver. Register and join the fun at PodcastMovement.com
  • [37:45] Sign up for the Podcasting to the Max newsletter at MaxPodcasting.com/Newsletter and receive How to Edit Your Podcast in Audacity
• Inspiration & Creativity: People, Hobbies, and Resources
  • [38:23] When did Lee start playing music
  • [38:39] “Jingle Bells,” “A-Tisket, A-Tasket“
  • [40:33] Grand Canyon
  • [41:39] I do love naps though
  • [42:41] The Mental Gym
  • [43:03] How do you play music by ear
  • [43:14] He got me
  • [45:04] How does playing by ear compare to impressions
  • [46:38] I love 61-year-olds

• Rapid-Fire Q&A
  • [47:10] “Smoke on the Water” by Deep Purple, School of Rock
  • [47:48] What’s Lee’s favorite part of Arizona besides the Grand Canyon
  • [48:02] What’s a Weird Talent he has
  • [48:06] Awful
  • [48:22] How did Lee become friends with Jack Welch at the Jack Welch Management Institute (JWMI)
  • [50:42] Mentors
  • [51:24] How do you keep going in an ultramarathon
  • [51:35] IRONMAN Arizona
  • [52:33] Connect with Lee on LinkedIn and TheMINDMethodology.com
  • [54:29] What are Lee’s Final Thoughts
  • [54:48] Follow the Wild Business Growth Podcast and tell a friend about the podcast. And show love (or roast me) by leaving 5 stars on Apple Podcasts and/or Spotify
  • [55:11] Check out the Wild Business Growth Podcast on Goodpods, where you can see what your favorite people are listening to
  • [55:12] Connect with me on Instagram, Twitter, and LinkedIn @MaxBranstetter
  • [55:15] Save time with your high-quality podcast. Email me at max@maxpodcasting.com to bring your podcast to life and use it as a business-building tool
  • [55:20] Sign up for the Podcasting to the Max newsletter at MaxPodcasting.com/Newsletter and receive How to Edit Your Podcast in Audacity
  • Theme music: Freestyle Percussion Magik – “Jungle Tribe” – provided by Jamendo

What is the Wild Business Growth Podcast?

Wild ideas. Wild growth. Every Wednesday morning a new entrepreneur joins the Wild Business Growth Podcast to share the wildly creative and unusual ways they grew their business – and teaches you how to do it, too. Hear the minds behind WordPress, Stacy’s Pita Chips, Drybar, the voice of Bart Simpson, and more wild stories. Hosted by Max Branstetter (that’s me), Founder and Podcast Producer at MaxPodcasting.

How do you start a podcast?

Interested in starting a professional-sounding podcast for your brand, but don’t want to deal with the time commitment of all those behind-the-scenes details? I’ve got you covered. Email me at max@maxpodcasting.com to save time with your high-quality podcast and use it as a business-building tool.

Thanks for listening to Lee Benson on the Wild Business Growth Podcast. To hear more Wild stories like this one every Wednesday morning, follow the Wild Business Growth Podcast and tell a friend about it. Then find each other’s most important number. Until next time, Let your business Run Wild…and Bring on the Bongos!!