#41: Eric Spofford: From Rock Bottom to Inner Circle: The Power of Purpose and Professionalizing Your Business

Today's podcast episode features Eric Spofford, who shares his experience of hitting rock bottom and finding the power to change. He and Jayson discuss how money and material possessions do not always bring happiness or fulfillment, and the importance of finding purpose and helping others. Eric talks about building a business and having a vision, coaching, and building a leadership team. He also discusses his coaching program and the "inner circle" community that offers tactical business advice, personal development, and networking opportunities.

Eric Spofford is the CEO of Spofford Enterprises. He is an entrepreneur, speaker, coach, recovered drug addict, and student of the game. At 23, inspired by his own struggles with addiction, Eric founded and operated one of the largest addiction treatment organizations in New England, which he sold for nine figures in 2021. Eric is also a seasoned real estate investor and developer.

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HIGHLIGHTS:

• The true meaning of success, fulfillment, and the dangers of chasing material success.
• He talks about building a business, coaching entrepreneurs, and the importance of having a vision for success.
• Eric shares his coaching program, which focuses on professionalizing businesses, building leadership teams, and providing tactical business advice.
• He discusses the "inner circle" community of entrepreneurs, which offers tactical business advice, personal development, and networking opportunities.
• Eric shares his journey of stumbling upon coaching entrepreneurs, his initial doubts, and the success of his coaching group.

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SOCIAL MEDIA:

Check out Jayson’s website: https://www.jaysonwaller.com/ ‌

Check out the Podcast website: https://letstalkbam.com

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SOCIAL MEDIA FOR ERIC SPOFFORD:

Instagram: https://www.instagram.com/ericspofford/

Website: https://ericspofford.com/

Follow Business and Money Podcast, Formerly True Underdog; and Jayson Waller on your favorite social media channels and digital podcast platforms:

https://linktr.ee/businessandmoneypodcast

Business and Money, formerly True Underdog is a Top 3 Entrepreneurship podcast on Apple hosted by Jayson Waller, Former CEO of POWERHOME Solar, one of the fastest-growing private companies in the USA, and his high-profile guests share motivational tips, inspiring stories, and business-building lessons to help each listener grow in their entrepreneurial journey.

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TIMESTAMPS:

• 00:00 - Prelude
• 00:33 - Introduction to Eric Spofford
• 01:41 - How did Eric start his business?
• 03:14 - What empowered Eric to make a change?
• 05:19 - Wake-up call
• 07:55 - What things do you get into to start making money? What did you start to change to?
• 12:04 - What kind of emotions were you experiencing in relation to business?
• 13:40 - The infancy stages of business
• 15:31 - If you lose sight of other people, the impact, and purpose, it's easy to get caught up in that stuff
• 16:21 - Fulfilling your purpose is the key
• 18:38 - A point where affording things doesn't necessarily equate to genuine satisfaction 
• 20:59 - The Blueprint to Success
• 22:18 - "I get up and do it every day because I want to"
• 25:26 - The power of being a visionary and creator
• 29:33 - What are Eric's thoughts on the three key elements necessary for building a successful business?
• 31:26 - Tactical business advice for entrepreneurs
• 32:39 - You are your own worst enemy