100: You Can't Fear Failure: Scott Trench on the Evolution of BiggerPockets

How does a 27 year old become the CEO of a major online brand ? Not only that, how does a 27 year old take an online brand, build upon it, and create something better? Well, if your name is Scott Trench , the answer is: a lot of hard work, some tough decisions, and looking out for the customer whenever possible. Before he was head honcho at BiggerPockets, Scott was a financial analyst in the corporate world . He wasn’t too happy, and spent all his free time finding the best (and quickest) ways to reach financial freedom so he didn’t have to go to a 9-5 for the next 40 years of his life. Without many investments or rental properties , Scott was introduced to the founder of BiggerPockets, Josh Dorkin . Josh saw something in Scott, and hired him as the third employee of BiggerPockets. Scott was given the title “ Director of Operations ” which really meant taking care of the finances for the business and making sure everyone had their coffee . Scott started acquiring more properties as he worked with Josh and later became such a crucial part of the BiggerPockets family, he was promoted to president . When Josh decided to step away to be with his family, Scott became CEO. In the 2 years he’s been CEO, he’s had to make some tough decisions such as changing the overall management structure of the company . This has helped BiggerPockets grow into a website and business that over 2,000,000 people use and love . When Scott isn’t running BiggerPockets, he’s playing rugby, gaming on his PC, or having a beer with a fellow investor! In This Episode We Cover How Scott used the principles outlined in Set for Life to reach financial freedom Taking a chance and joining a very early stage startup The importance of having very low expenses when making hard decisions How to work with a private equity firm when they acquire part of your business NPS (net promoter scores) and why they’re crucial for continual business improvement Driving value for shareholders , without tarnishing your brand for customers Scott’s new book First Time Home Buyer And So Much More! Links from the Show Mr Money Mustache BiggerPockets Business Podcast 01: How to Turn a Hobby Into a Booming Business (Then Get Your Life Back)—The BiggerPockets Story With Joshua Dorkin BiggerPockets Business Podcast 18: How to “Have It All” by Living with Intention with Brandon Turner BiggerPockets Real Estate Podcast BiggerPockets Money Podcast McCarthy Capital BiggerPockets Publishing BiggerPockets Podcast 297: Mastering the Decision-Making Process with Business (and World Series of Poker) Champion Annie Duke BiggerPockets Real Estate Rookie Podcast BiggerPockets Marketplace Pier 1 Check the full show notes here: http://biggerpockets.com/bizshow100 Learn more about your ad choices. Visit megaphone.fm/adchoices