I was recently contacted by the author, Adii Pienaar, wanting to share his new book all about ‘life profitability'. As someone who prioritises building a business that supports the lifestyle you want, this concept of ‘life profitability' really got my attention!
Adii mentioned that he'd been in contact with one of my online business heroes, Paul Jarvis. You might remember that I interviewed Paul on the podcast all about his book ‘Company of One' and building a business that doesn't prioritise growth. This was all the convincing I needed so I decided to get Adii on the podcast to chat about his ideas!
Adii is a family man, entrepreneur, writer, runner and wine-drinker from Cape Town, South Africa. He was the co-founder of WooCommerce which he sold to Automattic in 2013. He then co-founded the conversion rate optimisation agency, Conversio, which he later sold to Campaign Monitor in 2019. And now he's working on an email marketing platform, CM Commerce.
Listen to our conversation here:
In the episode, we talk about:
- Adii's background and how he first came up with the idea of ‘life profitability'
- Why Adii wasn't satisfied after selling two mullion dollar businesses
- What exactly is ‘life profitability'
- “It's easy for you to say, you've sold multiple businesses” – How would you respond to this?
- What would your advice be to someone starting a business? In the beginning, you need to prioritise profit so you can pay the bills and survive. When should this priority shift?
- Can you break down the equation for us? If profit is revenue minus costs, how do you define these?