Have you ever wondered how to turn passion, connections, and courage into real business success, even when the odds aren’t in your favor? In this episode, Tim interviews Rune, a seasoned entrepreneur who traded life at sea for the challenges and rewards of buying and building businesses. Tune in for honest lessons on entrepreneurship, risk-taking, and the power of networking.

Tim is an entrepreneur who believes everyone should explore the opportunities that business and real estate can provide on the path to financial freedom. He owns and operates a wine & liquor store, a software startup, a consulting company, and a growing portfolio of commercial and residential real estate.

Tim’s passion for independent business has led him to support dozens of other business owners. For over a decade, he has worked with businesses on strategy, processes, finances, and marketing. These experiences, along with analyzing dozens of other businesses for potential acquisition, have provided Tim with an immense knowledge base to pull from.

Tim has appeared on multiple top-tier podcasts in the financial space, such as Bigger Pockets Money and The Freedom Chasers Podcast.

[00:01 - 04:44] From Marine Engineer to Entrepreneur

Rune shares his journey from sailing the world to starting his own business.

How a tough onshore job pushed him to seek a different path.

The creation of his first company focused on silent, vertical wind turbines.

Leveraging global connections made during his sailing years to build his business.

[04:45 - 13:31] The Power of Networking & Sphere of Interest

Why “who you know” matters more than “how to do it.”

Understanding and using your immediate network as a lead magnet.

Real-world examples of connections leading to critical partnerships.

How staying connected saved Rune’s ventures and opened new doors.

[13:32 - 34:45] Buying Businesses: Successes and Setbacks

Why Rune’s first business purchase, a café during COVID, didn’t work out.

Lessons learned about passion vs. practicality in business choices.

The challenges with an online furniture boutique and market timing.

The importance of financial vigilance and weekly check-ins with your bookkeeper.

[34:46 - 46:41] Embracing Challenges and Strategic Growth

How Rune views risk and fear as opportunities for growth.

The value of turning around struggling businesses with the right people.

Why diversifying with synergistic businesses (like trucking) makes sense.

Focusing on people and mindset over just numbers when evaluating deals.

[46:42 - 54:01] Advice for Aspiring Entrepreneurs

“Nothing’s good, nothing’s bad” — just take action despite fear.

Learning from every experience as a win-win.

Encouragement to embrace discomfort and fear for personal growth.

Guest Bio:

Rune Holm is an entrepreneur with over a decade with over a decade of experience. He has run companies, bought companies, and shut down companies. Through these experiences, he has always strived to learn and help others succeed.

Connect with Rune:

www.hnordic.com

If you found value in today’s show, make sure to subscribe so you never miss an episode packed with insights to help you buy and grow a business that creates real financial freedom.

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Website: https://www.powerofbiz.com

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Shareable Quotes:

“By networking, you will get that connection. And even if you sit by yourself and you have a great network, you will come up with an idea who can help you with this and who can help you with that. And it makes things so much easier.” - Rune Holm

“ Sometimes when you see it's going bad and you just have the feeling, then it's, it's better just to shut it down, do it, and go further.  Everything is a lesson, so do it and pass on.” - Rune Holm

 ”You can always turn around a business if you have the right strategy and the right people. But it's the people that makes the company.” - Rune Holm

“ Nothing's good and nothing's bad. The thing is, you just have to do it.” - Rune Holm

“Just because a business doesn't fit exactly in what your knowledge or your skillset is, doesn't mean that you don't have the knowledge and skills to run it.” - Tim Delaney