Christine McDannell is the definition of a serial entrepreneur and knows how to build businesses to sell… and QUICK! She hasn’t just sold a couple of businesses, but she’s sold seven businesses in the last 14 years. The great thing is that they are ALL still in business to this day.
We’ve had Christine on a previous episode and she laid out how she builds businesses (especially ones that are brick and mortal, offline). Since we spoke with her, she sold that company, Eco Chateau, and has already moved on to her next two exciting ventures. We’ll dig in and discuss how she builds these businesses so quickly and how she sets them up for a profitable exit. This is a VERY important topic and one that many get wrong.
Today, she’s putting all of her efforts into her new-ish businesses, Kindred Quarters and Luxe Car Collective. The first is a venture that is creating coliving houses for entrepreneurs. She already has a handful of houses and is quickly expanding all around the globe. The second venture is a luxury car rental company that she runs out of San Diego. She’s only been running it since early 2017 and she’s ALREADY been approached to sell the business.
Side note: Joe got inspired from her talk about the car business and is in the process of purchasing a Tesla to join her car collective. I’m sure he’ll report back to share how it goes for him 🙂
The most amazing thing that Christine has done VERY recently was fulfill on her promise to Richard Branson. Years ago she rushed him on stage and gave him a check for $1,000 to support his causes. She made a promise to herself that she’d add two more zeros to the end and give him a check for $100,000. Well, after the sell of Eco Chateau, she did just that! She flew out to Paris and actually met with Richard in person and had lunch. She did the “impossible” and learned a lot. Her story about this is amazing.
On this episode, Christine will tell us about about her businesses and her marketing strategies. You will be nothing short of amazed when you discover how she became a successful entrepreneur by having a never-ending quest for new business and follow-through after exiting a company.
“Money is just like a score and it’s not enough to get me out of bed in the morning. People who have employees specially the Millennials, they care about FREEDOM and being a part of a cause and inspire others to do the same.” – Christine McDannell
Some topics that were discussed include:
- Exiting the Brick & Mortar game
- Selling a business through an Escrow and how a broker makes a deal
- How she built and sold 7 previous businesses and the industries they were in
- One common string that links all entrepreneurs
- The core concept behind Luxe Car Collective
- Some car listings and rental costs
- The deal with Turo
- The most REQUESTED car and her FAVORITE one
- Her approach to a lifestyle business
- The downsides of having a luxury car in putting it in rental business
- How does Kindred Quarters work in their business
- How they managed to rent 6 houses in a year
- It all started with a donation – The first talk with Sir Richard Branson
- Shooting for the ‘North Star’
- The comforting feeling of being detached to money and freely giving it
- Finding happiness amidst passing through a financial threshold
- “It was the icing to the cake!”
- The plan in adding another ZERO to the paycheck to Sir Richard
Contact Christine McDannell:
References & links mentioned:
- Round 1 With Christine
- Christine on the Virgin Blog
- Luxe Car Collective
- Kindred Quarters
- Bill Gates
- Elon Musk
- Marcus Lemonis
- I Can’t Make This Up by Kevin Hart
Subscribe & Review The Hustle & Flowchart Podcast
Thanks for tuning in to this week’s episode of the Hustle & Flow Chart Podcast! If the information shared in these weekly conversations and interviews have helped you in your business journey, please head over to iTunes, subscribe to the show, and leave us an honest review. Your reviews and feedback will not only help us continue to deliver great, helpful content, but it will also help us reach even more amazing entrepreneurs just like you!