Michael Frew is the Owner and Operator of Tyler Crown, a corporation that manages, founds and acquires cloud-based software products and services.
One of the companies in that portfolio is QuotaGuard, a Static IP service for cloud-based applications.
Michael has two decades of experience as a software developer and project manager. He started acquiring multiple online and software businesses in early 2015.
As an entrepreneur, Michael has lived, studied, and worked all over the world, including in China, Poland, Hong Kong, Holland, and about a quarter of the states in the US.
In his spare time, Michael educates investors about the buyer perspective of the online acquisition market at michaelfrew.com.
Where did the idea for Tyler Crown come from?
The idea to stop trying to start a business and purchase an existing successful business came from spending over 2 decades in the software space watching most projects fail.
What does your typical day look like and how do you make it productive?
I start real early, to get projects that struggle with interruptions completed. So for the first 2-3 hours I am reading about my industry and writing essays for publication, then I spend about 2-3 hours overseeing tasks for QuotaGuard and my other SaaS companies, and then the end of the day is spent on new initiatives and deep work projects. Being located on the West Coast in Las Vegas, usually by 1pm the ‘business’ work that interrupts my day is over and I can concentrate until 5-6pm on projects with more long term returns.
How do you bring ideas to life?
I’m an operator, so in many respects it’s by shutting up and doing the work. As an introvert, it’s very easy for me to concentrate on what needs to get done and ignore the wasteful distractions of social media and low-value events.
What’s one trend that excites you?
The adoption of the cloud and the millions of micro-businesses that spring from these tools becoming easier to use, leverage, and grow for single person owners and operators.
What is one habit of yours that makes you more productive as an entrepreneur?
Getting up early, especially weekends.
What advice would you give your younger self?
Stop trying to start businesses, don’t spend six figures on graduate degrees or an MBA, but take that money and buy a small online business. Learn the skills, network with like-minded entrepreneurs, and continue to buy larger and larger companies.
Tell us something that’s true that almost nobody agrees with you on.
That starting your own business is going to be a waste of time, money, and resources. And then the business will fail.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
Read books like your life depends on it.
What is one strategy that has helped you grow your business?
Personalized, fast customer service letting our own personalities shine and never, ever letting technology get between you and your customers.
What is one failure you had as an entrepreneur, and how did you overcome it?
I bought a seven figure business and it failed in less than 3 years. I overcame it by never again buying a business where I was not already deeply familiar with the market, customers, and business model.
What is one business idea that you’re willing to give away to our readers?
Buy a business, stop trying to start one. It’ll change your life.
What is the best $100 you recently spent? What and why?
Dinner out with my wife. After 2020, the simple things you can do with family have so much more impact in 2021.
What is one piece of software or a web service that helps you be productive?
ToDoist. It makes it easy to organize tasks by importance, significance, and urgency. Then you just drill through them until they are all checked off.
What is the one book that you recommend our community should read and why?
Turning Pro by Steven Pressfield
What is your favorite quote?
If I had to steal books to support my reading habit, I would. – Ryan Holiday
Mario Schulzke is the Founder of ideamensch, which he started a decade ago to learn from entrepreneurs and give them a platform for their ideas.