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Join Patrice Miles, BOP Business Coach, and Max Meade, CEO & Co-Founder at Alivo, as they discuss the power of AI tools for home service pros on the latest episode of Tuesday Tools On Purpose at My Business On Purpose Podcast.
Learn how to supercharge your business with Alivo and streamline your operations! đźâ¨
Contact information:
Patrice Miles
Business Coach, Business On Purpose
[email protected]
Discovery Call:
https://calendly.com/patricemiles/discovery?back=1&month=2024-03Max Meade
CEO & Co Founder, Alivo
Email: [email protected]
Instagram: https://www.instagram.com/alivo.ai/
LinkedIn: https://www.linkedin.com/company/alivoai/
Demo/Strategy Call Link:
https://calendly.com/max-alivo/alivo-demoAre you working IN your business or ON your business? Do you have all of the foundational elements that will liberate you from the business chaos? Take the assessment to find out which areas you can grow and improve on.
Take our Healthy Owner Business Assessment HERE âĄď¸ https://bit.ly/healthypatriceSIGN UP for our Newsletter HERE âĄď¸ https://www.boproadmap.com/newsletter
For blogs and updates, visit our site HERE âĄď¸ https://www.mybusinessonpurpose.com/blog/
LISTEN to the Business On Purpose Podcast HERE âĄď¸ https://podcasts.apple.com/us/podcast/my-business-on-purpose/id969222210
SUBSCRIBE to our YouTube channel HERE âĄď¸ https://www.youtube.com/channel/UCbPR8lTHY0ay4c0iqncOztg?sub_confirmation=1
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Join Patrice Miles, BOP Business Coach, and Coral Abood, Brand Strategist at Willow Tree Imaging, as they delve into "Brand Identity" on the latest episode of Tuesday Tools On Purpose at My Business On Purpose Podcast.
Discover how to define your brand's identity and make a lasting impact!
Contact information:
Coral Abood
Brand Strategist Willow Tree Imaging
[email protected]
https://www.willowtreeimaging.com/
https://www.instagram.com/willowtreeimaging/
https://www.facebook.com/willowtreeimagingPatrice Miles
Business Coach, Business On Purpose
[email protected]
Discovery Call:
https://calendly.com/patricemiles/discovery?back=1&month=2024-03Are you working IN your business or ON your business? Do you have all of the foundational elements that will liberate you from the business chaos? Take the assessment to find out which areas you can grow and improve on.
Take our Healthy Owner Business Assessment HERE âĄď¸ https://bit.ly/healthypatriceSIGN UP for our Newsletter HERE âĄď¸ https://www.boproadmap.com/newsletter
For blogs and updates, visit our site HERE âĄď¸ https://www.mybusinessonpurpose.com/blog/
LISTEN to the Business On Purpose Podcast HERE âĄď¸ https://podcasts.apple.com/us/podcast/my-business-on-purpose/id969222210
SUBSCRIBE to our YouTube channel HERE âĄď¸ https://www.youtube.com/channel/UCbPR8lTHY0ay4c0iqncOztg?sub_confirmation=1
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Saknas det avsnitt?
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Hey! Ever feel disconnected from your team? Either you don't feel like you're getting them, or they don't feel like they're getting you, or vice versa.
One of the biggest issues that we see when we're working with business owners, or frankly, just when we're working with people, we're human beings. Whereas tasks don't talk back. There's no emotion there. When we're dealing with people, ourselves. We've got emotions, we've got variations. Things happen in our lives, and it causes us to do different things.
And for years, we at Business On Purpose have been pushing the 1 on 1 Check In. And with this check in, a variety of different elements can come out through these discussions. And one of the biggest pieces of pushback we'll get is this one piece that says, âYeah, but Scott, we talk all day long, like, we don't need to do this. We're always talking. We're texting, we're talking on the phone. We're looking at different things.â
I ran across a book, and it helped to understand this hunch that we had that individual, 1 on 1, undistracted check ins could be an incredibly powerful tool, not only for leadership, but effective. Just day to day management. So it's in the book called âThe Effective Managerâ, and it's written by Mark Horstman, Kate Braun, and Sarah Sentes. And you can find it anywhere. Just look it online. The Effective Manager.
What I really like about the book is they actually did statistical research around managerial status and a variety of tools that they leveraged in order to find growth, both in managers and more often in people. And so as it comes to small business, we can learn a lot from this. And so I want you to take this excuse that we get a lot. âYeah, but Scott, we talk all day longâ, and I want you to think about this.
What they found in the book is that the average length of time that managers talked in this what we call non necessary meeting with the directs, that, quote, they talk to all day long. 28 minutes. That's it. 28 minutes. So, when you say that you talk all day long with your team, what you really mean is we spent about 28 minutes together, but it's 30 seconds here, a minute and a half there, three minutes there.
Is that how you want to build a relationship and a connection? Is that how you would build a relationship with the people that you love outside of work, your spouse, your kids? No. No. We've got to have continuity in what we do. And to allow the demon to roar even more. What I found from Cal Newport was the average length of time that we spend checking email is 5.6 hours.
So, this is what the normal week looks like. Most likely, this is what your week looks like. 28 minutes talking all day long, or the average day, 5.68 hours of chat checking email. And if we're really honest, we spend the remaining two-ish hours putting out fires. When do we ever get to work on the business? When do we ever get to lead? Because we're not leading when we're talking all day long. We're not leading when we're checking email. And we're certainly not leading when we're putting out fires.
So, we reoriented to the day and thought about, what is an RPM day look like? You might be thinking, what is RPM? Repetition, Predictability, and Meaning. So, we don't void repetition and predictability out and leave it meaningless? No, we want to bring meaning into that. How do we do that?
What if you replaced your talking all day long with a 1 on 1 check in with your direct reports? What if you replaced 5.6 hours of checking email and replaced it with following your CEO owner scorecard, or your job role and your weekly schedule? What if you replaced putting out fires and instead started to work ON the business, articulating vision, mission values, recasting all of that, building out fiscal dashboards, subdividing bank accounts, long term planning, goal setting, past, present, future financials, all the things that we talk about at Business On Purpose.
What if you replaced putting out fires with working on the business? So, there was a fascinating study put out. So, I want to reinforce the power of the 1 on 1 check in that one little element of 28 minutes a day instead of talking all day long, that you can talk once in a focused atmosphere with your direct report.
So here was the study by Horstman, Braun, and Sentes. And what they did is they put 700 managers in a study and they measured the success of the manager by two things. Number one is their key result for whatever vertical they're in. You know, if you're in sales, close deals, if you're in operations, finished schedules, whatever it might be. So, whatever that key result was, and then number two, was the retention of the team. In fact, they argue in the book that those are really the only two things that matter from a management standpoint, the key result and the retention of the team that produces those results. They put 400 of those managers in what they call the control group. If you got a background in scientific studies, you would understand what this is. The control group, the 400 managers, didn't do anything different. They basically got a placebo pill and they would just continue to operate and to manage as they've always managed. So, they had 300 other managers that were in the test group to where they actually had them do 1 on 1 check ins.
Now, the test was set to run for 30 months. 400 managers not doing 1 on 1 individual check ins with direct reports. 300 managers proactively doing 1 on 1 check ins with their direct reports and only their direct reports. Nobody down from that. After 19 months, they had to stop the study. Why? It's because there was ethical consideration.
See, what they found there were 43 total managers who had received promotion at month 18. Why did they stop the study? Because 42 of those were from the test group. 42 of the 43 managers that had been promoted were in the blinded test group who were actively implementing 1 on 1s. What that meant was there was only one promoted manager who was in the control group not implementing the 1 on 1s.
See, ethically, they were holding people back from promotion because they weren't allowing them to do the 1 on 1s because they were in the control group. And so there was an interesting couple of outlays with this. Number one is the frequency of the 1 on 1 check ins. What does that look like? Well, those that did their 1 on 1 check ins weekly had the largest improvement.
Those who did it biweekly saw a 50-ish percent improvement compared to the weekly. So, they saw a significant improvement. It just wasn't what the weekly were. Now, I want you to look at this. Those who did nothing at all, they were in the control group, saw a slight improvement in results just by taking the placebo pill. They call that the placebo effect.
But this is what really grabbed my attention. Those who did the check ins, so they were in that test group of 300. They did the check ins, but they only did them once a month, actually saw a decrease in results and retention. So, they saw worse performance than the control group, who did nothing at all. So, what it means is that we have not only got to do 1 on 1 check ins where we're not just talking all day long, but we're having meaningful interaction over and over and over again. And then those that scheduled the check ins saw a four times improvement over those who did not schedule the check inside, but still had those there.
So, here's some best practices that I thought to be really, really helpful. Number one, schedule your check ins to go back over there. It's a huge predictor of success versus unscheduled check ins. Hold them weekly, a max of 30 minutes, a minimum of about 20 minutes. This 10/10/10 means the first ten minutes they get to feed you back and I'm going to give you some questions I think will be helpful. The second ten minutes are your time to feed them back and then the remaining ten minutes for anything that you want. Some people would cut that final ten minutes out and really just focus on the first ten and the second ten. And then you meet only with your direct reports. And only your direct reports. Nobody else.
Well, how do I stay close to the others? By leading your direct reports so that they stay close to the others. And then the fifth is what we always say. In fact, it's one of our core values, is to write it down, take written notes. Now, if you're part of the BOP community, you already have these check in questions in this final statement here at the end. Here's what I see, here's what I need from you. But if you're not part of the BOP family, this is a simple set of checking questions that you can go in and begin to ask to get the conversation started. And you can block out 20 to 30 minutes with a direct report, preferably weekly, if not every other weekly. But what we're finding out is monthly actually has an adverse effect.
So, what if you come back and say, âWell, Scott, I don't have time to do this.â I would come back and tell you, as a coach, âI wonder why you don't have time to do this.â It's because you're living in this day to day of where you're talking all day. You're checking the devil of email most of your day, and you're spending the rest of it constantly putting out fires. Well, if you do that, then what you're going to do is subset yourself to chaos. So, let's make sure not to do that. Let's go to mybusinessonpurpose.com/contact. Reach out. We want to help you with this and provide you with resources. That's mybusinessonpurpose.com/contact to see how we might be able to help you at Business On Purpose.
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Join Patrice Miles, BOP Business Coach, and Jessica Vanbrunt of Vanbrunt and Company, as they delve into the power of Debriefs on the latest episode of Tuesday Tools On Purpose at My Business On Purpose Podcast.
Learn how to streamline your operations and elevate your business with Debriefs .
Contact information:
Patrice Miles, Business On Purpose
[email protected]
Discovery Call:
https://calendly.com/patricemiles/discovery?back=1&month=2024-03Are you working IN your business or ON your business? Do you have all of the foundational elements that will liberate you from the business chaos? Take the assessment to find out which areas you can grow and improve on.
Take our Healthy Owner Business Assessment HERE âĄď¸ https://bit.ly/healthypatriceSIGN UP for our Newsletter HERE âĄď¸ https://www.boproadmap.com/newsletter
For blogs and updates, visit our site HERE âĄď¸ https://www.mybusinessonpurpose.com/blog/
LISTEN to the Business On Purpose Podcast HERE âĄď¸ https://podcasts.apple.com/us/podcast/my-business-on-purpose/id969222210
SUBSCRIBE to our YouTube channel HERE âĄď¸ https://www.youtube.com/channel/UCbPR8lTHY0ay4c0iqncOztg?sub_confirmation=1
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Join Patrice Miles, BOP Business Coach, and Shawn King, J. Galt, as they discuss "Unlocking Business Credit" on the latest episode of Tuesday Tools On Purpose at My Business On Purpose Podcast.
Learn how to secure low-interest loans without personal guarantees!
Contact information:
Patrice Miles, Business On Purpose
[email protected]
Discovery Call:
https://calendly.com/patricemiles/discovery?back=1&month=2024-03Shawn King, J. Galt
Phone: +1 586-201-5927
Email: [email protected]Are you working IN your business or ON your business? Do you have all of the foundational elements that will liberate you from the business chaos? Take the assessment to find out which areas you can grow and improve on.
Take our Healthy Owner Business Assessment HERE âĄď¸ https://bit.ly/healthypatriceSIGN UP for our Newsletter HERE âĄď¸ https://www.boproadmap.com/newsletter
For blogs and updates, visit our site HERE âĄď¸ https://www.mybusinessonpurpose.com/blog/
LISTEN to the Business On Purpose Podcast HERE âĄď¸ https://podcasts.apple.com/us/podcast/my-business-on-purpose/id969222210
SUBSCRIBE to our YouTube channel HERE âĄď¸ https://www.youtube.com/channel/UCbPR8lTHY0ay4c0iqncOztg?sub_confirmation=1
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Join Patrice Miles, BOP Business Coach, and Mike Gandolfo, Real Estate Broker & Owner of RE Solutions, as they delve into the power of 12 Week Plans on the latest episode of Tuesday Tools On Purpose at My Business On Purpose Podcast.
Discover actionable strategies for boosting business productivity and achieving goals efficiently!
Contact Info:
Mike Gandolfo
[email protected]Are you working IN your business or ON your business? Do you have all of the foundational elements that will liberate you from the business chaos? Take the assessment to find out which areas you can grow and improve on.
Take our Healthy Owner Business Assessment HERE âĄď¸ https://bit.ly/healthypatriceSIGN UP for our Newsletter HERE âĄď¸ https://www.boproadmap.com/newsletter
For blogs and updates, visit our site HERE âĄď¸ https://www.mybusinessonpurpose.com/blog/
LISTEN to the Business On Purpose Podcast HERE âĄď¸ https://podcasts.apple.com/us/podcast/my-business-on-purpose/id969222210
SUBSCRIBE to our YouTube channel HERE âĄď¸ https://www.youtube.com/channel/UCbPR8lTHY0ay4c0iqncOztg?sub_confirmation=1
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Join Patrice Miles, BOP Business Coach, and Chris Kornman, Entablature Design Build, as they delve into the transformative power of onboarding and training inexperienced yet compatible new hires on the latest episode of Tuesday Tools On Purpose at My Business On Purpose Podcast.
Learn about practical strategies, metrics, and best practices for nurturing talent from scratch.
Contact Info:
Chris Kornman
Entablature Design Build
https://entablature.com/
https://www.facebook.com/EntablatureNOLA/
https://twitter.com/EntablatureNOLA/
https://www.instagram.com/EntablatureNOLA/Are you working IN your business or ON your business? Do you have all of the foundational elements that will liberate you from the business chaos? Take the assessment to find out which areas you can grow and improve on.
Take our Healthy Owner Business Assessment HERE âĄď¸ https://bit.ly/healthypatriceSIGN UP for our Newsletter HERE âĄď¸ https://www.boproadmap.com/newsletter
For blogs and updates, visit our site HERE âĄď¸ https://www.mybusinessonpurpose.com/blog/
LISTEN to the Business On Purpose Podcast HERE âĄď¸ https://podcasts.apple.com/us/podcast/my-business-on-purpose/id969222210
SUBSCRIBE to our YouTube channel HERE âĄď¸ https://www.youtube.com/channel/UCbPR8lTHY0ay4c0iqncOztg?sub_confirmation=1
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We are sobered us to the reality that we will always have to acclimate our climbs with a layover at basecamp; up and down, up and down. Prioritizing personal meaning that happens when we make time to have 1-on-1 check ins. Connectedness is crucial for a meaningful culture.
Realizing the imperfection and meaning of holding themselves to a written hiring process: win or lose.
Revealed thoughtful humanity compelling us to leverage our business in the generosity and service of those we spend time with each day.
Motivational speakers, sideline reporters and news organizations live in a fantasy land of grow, grow, grow so that when an organization has any backwards movement they label it FAILURE.
Trees are not meant to grow in the sky.
Humans are not meant to live on earth forever.
Life and business necessarily intersect and both are a rhythm of climb and descend, climb, descend.
This past week I was walking the coastline at Myrtle Beach while Jax was about to run his first competitive race in a year because of injury. I noticed somethingâŚthe waves advanced, and receded, advanced, and receded.
We are not designed to sit on the mountaintop full time. Thomas alluded to the fact that an altitude of 8000 feet is considered the death zone.
When a car regularly red lines the RPMâs, it will burn up.
Ironically weâre designed to come back down to base camp often andâŚ
Run another team mtg
Do another check in
Update the delegation roadmap
Review your culture calendar
Add another bank account
Track the dashboard
Update the job role
And review the budget again and again
The mindset of âweâve already done thatâ will need to be replaced with a mind of âletâs do it againâ.
As owners we cannot be in a constant state of climb and RPM redline.
As a team, we cannot also be in a constant state of sitting comfortably a base camp.
Thereâs a an imperfect rhythm to find.
On a cars dashboard there are two dominant gauges: the speedometer and RPM gauges. One tracks your speed, the other how many revolutions per minute your engine is spinning.
Letâs say the general speed of our business is 73 miles per hour. Sometimes we must speed up to 80âŚother times we slow 65 or 70. There is always acceleration of some kind whether the acceleration is summiting up to the 2nd Mountain at 80 miles an hour, or slowing the RPMSâs back down to Basecamp at 70 miles per hour.
We never take our foot off the gas, and yet we modulate the gas pedal to the appropriate revolutions.
A car is not designed to sit idle at 0 RPMâs. It is also not designed to redline constantly at 9,000 RPMâs.
Sometimes business is a rush: the new, the innovative.
Most times? Itâs a steady 73 miles an hour at 2000 RPMâs heading to a particular place and a predictable pace: weekly schedule, team meetings, culture calendar, etc.
Dallas Willard, my favorite author, was asked this question, âwhat must we do to be healthy?â He replied simply and emphatically, âwe must ruthlessly eliminate hurry from our livesâ.
When asked if there was anything else, he offered kindly, âthere is nothing else.â
If I may, I would like to adapt the statement into our BOP vernacular.
We must ruthlessly eliminate chaos from our lives.
How?
Activating ourselves with the oxygen of repetition, predictability and meaning of a rhythmic climb up, and ascent back down. Up to implementation, down to delegation. Up to executive leadership, down to team meetings. Up to legacy planning, down to subdivided bank accounts. Up to tax strategies, down to check ins.
If you went back and audited the coaching notes of the clients that have been in the BOP coaching family for the longest: 7, 8, and 9 years here are the coaching conversations you will find.
An accounting culture calendar.
A new executive job role.
An updated org chart.
A video sales process.
A job tracking sheet on a spreadsheet.
An expansion checklist
Implementing 1-on-1 check ins with regularity
Are these clients failures? No. Business is âthe infinite gameâ...there is always growth, and that growth always requires a down-trek to basecamp where the most basic tools are sharpened.
The best football players in the world show up andâŚblock, tackle, throw, and catch before they ever summit the mountain of complex playbooks.
As we push you as coaches into the four elements of our climb: purpose, people, process, and profit, it is crucial that you buy into the rhythm of climb and descent. Both are needed. Both are valuable. Both will set the stage for life and work of purpose, because life and business necessarily intersect.
You may not know thisâŚthe BOP family now has 94 businesses that are currently being coached. One of those received an offer to be purchased for $5mm cash and walk away (thatâs rare).
When asked, the owner said, âa year ago I would have taken it because I was a slave to my business.â
Today, âIâm not interested because weâve built a business I actually enjoy being a part of because itâs a business with meaning.â
This is an owner who still has to do all of the basecamp, first mountain, and second mountain things. $5mmâŚno thanks.
The second mountain is repetitious.
The second mountain requires built predictability.
The second mountain is more meaningful than a walk-away check for $5mm.
What is one basic, basecamp tool that you need to go back to and ruthlessly implement so you can ruthlessly eliminate hurry from your role and life?
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Join Patrice Miles- BOP Business Coach, and Gerrick Taylor- CEO, Taylor's Landscape Supply, as they delve into the transformative power of Google Docs for running your admin team on the latest episode of Tuesday Tools On Purpose at My Business On Purpose Podcast.
Learn about leveraging Google Docs to manage your team, best practices for optimal use, and insights on choosing the right tools for business communication and organization.
Contact Info:
Gerrick Taylor, CEO
Taylor's Landscape Supply
https://taylorslandscapesupply.com/
https://www.facebook.com/TaylorsLandscapeSupply
https://www.instagram.com/taylorslandscapesupply/
https://www.youtube.com/@TAYLORSQLS
https://twitter.com/taylorsqlsAre you working IN your business or ON your business? Do you have all of the foundational elements that will liberate you from the business chaos? Take the assessment to find out which areas you can grow and improve on.
Take our Healthy Owner Business Assessment HERâĄď¸ https://bit.ly/healthypatriceSIGN UP for our Newsletter HERE âĄď¸ https://www.boproadmap.com/newsletter
For blogs and updates, visit our site HERE âĄď¸ https://www.mybusinessonpurpose.com/blog/
LISTEN to the Business On Purpose Podcast HERE âĄď¸ https://podcasts.apple.com/us/podcast/my-business-on-purpose/id969222210
SUBSCRIBE to our YouTube channel HERE âĄď¸ https://www.youtube.com/channel/UCbPR8lTHY0ay4c0iqncOztg?sub_confirmation=1
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We stumbled across Mike Michalowiczâs Profit First methodology back in 2017 when a friend sent me a sample chapter of the book and I devoured it. We were only a couple of years into our business coaching firm and honestly were looking for a method that would demonstrate a numerical return on the investment our clients were making in themselves by engaging with Business On Purpose.
The premise is basic: subdivide your bank accounts.
Instead lumping all of the money of your business into one, two, or three accounts, begin subdividing each dollar according to where that portion of the dollar is supposed to go.
If your cost of goods sold (COGS) is 30%, then roughly 30 cents of each dollar should be funneled into a COGS account, and so on.
After a year of subdividing our own accounts we realized the massive real and psychological value of subdividing each dollar.
Others started following suit and we even began tracking the weekly balance of our cash into what was a more revealing âcash flowâ report than the reports we were pulling from our bookkeeping software.
I am amazed that such a simple method is disdained by so many bourgeois.
Experience has taught us that simple things are often the key to clarity, and in this case, retaining more profit to be used for the things that matter most.
There are four primary reasons we have seen that rob owners of the joy of knowing where their money is going by subdividing their dollars.
First is the barrier of our own mindset. Whether it is the excuse of, âIâll just do this all on a spreadsheetâ, or the abdicating thought of, âitâs too much workâ, our minds are the first to put up a fight against simplicity.
Just ask yourself, âam I content and joyful around what I am doing now?â
You might be content, but all of that effort and not much to show for it at the end of the year will leave an owner demoralized and empty.
Subdividing resources is not a novel concept and has worked for thousands of years across thousands of cultural settings.
Barrier number two is the bank who will be happy to add accounts for a fee.
There are plenty of local and remote banks who would love to host your deposits seeing as that money is what allows them to make money.
If your bank insists on charges, then insist on another bank.
Barrier three is a bookkeeper who is emphatic that âall of those transactions are going to take too much time and skyrocket your bookkeeping fees.â
Most of the accounts you add are simple savings accounts that just hold money until it is time to transfer to the government for taxes or to some other account for profit draws. Every quarter your real transactions will only increase by a few and will yield âvoodooâ-like results in retained cash in the words of one of my friends who saw a twenty times cash increase in 12 months simply because he was subdividing and watching the money.
Find a bookkeeper who is excited to get you the clarity you need around your finances and retain the profit you have always known you could.
The finally barrier to implementing the subdivision of your bank accounts is your CPA, not all of course, but some. Most CPAâs are tax-first professionals focused on tax returns. There is a growing number of CPAâs who are seeing their role necessarily and beneficial evolve into advising beyond just tax returns.
If your CPA is unwilling to side with you on âall those new accountsâ, there are plenty of CPAâs who would love to get you the clarity you need around your finances and retain the profit you have always known you could.
Remember, advisors, coaches, banks and support teams are here to serve you, not the other way around.
Commit to subdivide your bank accounts and begin to track the growth of your actual cash that you can then use for the generosity of your life and those you love and serve.
For more go get Mikeâs book âProfit Firstâ and if you are in need of implementing all the systems necessary to grow purpose, people, process, and profit for your business reach out to us at mybusinessonpurpose.com/contact.
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Join Patrice Miles, BOP Business Coach, and Wendy Pace, Owner of Pace Setting Media, as they explore the dynamic world of TikTok on the latest episode of Tuesday Tools On Purpose at My Business On Purpose Podcast.
Unlock the secrets to effectively harnessing TikTok for business growth and marketing success. Gain valuable insights from Wendy's expertise in social media management as they guide you through the steps to elevate your brand's presence on this influential platform.
Contact Info:
Wendy Pace
Owner, Pace Setting Media
[email protected]
770 2404851Are you working IN your business or ON your business? Do you have all of the foundational elements that will liberate you from the business chaos? Take the assessment to find out which areas you can grow and improve on.
Take our Healthy Owner Business Assessment HERâĄď¸ https://bit.ly/healthypatriceSIGN UP for our Newsletter HERE âĄď¸ https://www.boproadmap.com/newsletter
For blogs and updates, visit our site HERE âĄď¸ https://www.mybusinessonpurpose.com/blog/
LISTEN to the Business On Purpose Podcast HERE âĄď¸ https://podcasts.apple.com/us/podcast/my-business-on-purpose/id969222210
SUBSCRIBE to our YouTube channel HERE âĄď¸ https://www.youtube.com/channel/UCbPR8lTHY0ay4c0iqncOztg?sub_confirmation=1
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At 67 Clark had owned his contracting business for 40 yearsâŚhe was proud, but tired. The business had given him a chance to live in a good home, send his kids to good schools, and take a trip every now and then. Of course, business didnât grow while he was gone.
At 67 he reached out to a business broker and asked, âhow much can I sell my business for?â
He had always been told his business could be his retirement plan. HE was the value of the business and HE did not want to work anymore.
How do you grow your biz without debt, without expensive software, and yet WITH hope that your business can provide for you long after you have stopped working?
Can you imagine a business that not only runs, but grows without you???
Is that even possible?
What happens to your business if something happens to you?
Did you know that 80% of a biz owners net worth is locked away in their business?
How does an owner grow their number one asset without debt and expensive software?
Iâm going to lay out four available next steps for you to choose from in taking meaningful action to be liberated from business chaos and build your biz to run and grow without youâŚespecially if you plan to stay!
First, you must Write The Vision Down. Hope is not a plan, but hope is necessary. I hope to be a race car driver someday. I hope to live in Istanbul for months at a time. I hope my home increases in value. I hope the BOP team continues to build on itâs meaningful culture. Hope is the desireâŚbut vision is the clarification of that hope
Writing a vision down converts hope into existence. Gerber says âif you donât write it down you donât own itâ. We say, âif you donât write it down it doesnât existâ.
Write your vision down over a series of pages describing what you want for your family and freedom, your finances, your product or service, your team, your ideal client, and your culture.
The second tool for growing your business without debt or expensive software is committing to a simple life of spreadsheets.
I got a t-shirt made that says spreadsheets change lives!
What Project Management software is the best? Whichever one you will use.
Donât try to drive a Stock Car before youâve driven a Civic. Prove to yourself you will use the digital tools by using the free versions first.
Start any new tracking initiative on a spreadsheetâŚprove yourself, THEN you can sign up for the big boy stuff.
The third ingredient owners use to grow their biz without debt or expensive software is a culture calendar.
Culture is a science term, not a biz term. Culture is not something that happens to you but it is something that you proactively build.
You must create and invite people into a culture of RPMâs (repetition, predictability, and meaning). What a young generation does not want is a business or process that is glitchy, confused or bottled in your head.
What do they want? Clarity!
Stop Wasting time recreating the wheel. Start building a culture where people wake up and want to do hard things
You will need a tool that build the RPMâs of great culture: repetition, predictability, and meaning
Take a simple spreadsheet and add the weeks of the year along the horizontal bar at the top while adding all of the cultural ingredients you wish to install along the left hand vertical side.
Review this culture calendar in your weekly team meeting and implement. The team will begin to run and grow the business with or without you
The final tool to help you grow your business without debt or expensive software?
Subdivide your bank accounts and stop binge-drinking borrowed money!
Money leaks the fewer bank accounts we have. If we have 1, 2, or 3 accounts then it looks like we have a lot more money than we actually do
A $1 receivable drops down to pennies when we begin removing the cost of doing business. For every dollar of receivable you may realistically only be keep 2 to 4 pennies in CASH!
Iâm not talking about your Net Income or P&L statementâŚthatâs what the government and your CPA look at. We look at the cash you have in the bank. Nobody EVER has been able to withdrawal money from the bank using a P&L!
Of course those tools are important, and so is subdividing your cash.
Mike Michalowiczâs book Profit First is the definitive resource on this simple tool.
First, subdivide your bank accounts into at least 6 accounts. Then set percentages on each of those accounts. When receivables come in, subdivide the dollar up and put it in each home.
Donât overthink thisâŚdonât make excusesâŚyou know what your doing now is not working. Money is creeping in the front door and flying out the back door.
Once you have subdivided, now you can begin tracking your actual cahs every single week and limit your need to borrow money. This is real-life cash flow, not some static report that you pull when you are in trouble.
Itâs time to seeing where your money is sneaking
Sales are not your problem.
Marketing is not your problem.
Your process is your problem that free spreadsheets and subdivided bank accounts can empower you to solve.
Today, that 67 year old Clark is now 75 and he rarely leaves his houseâŚhe coughs all day. He always said, âwhen I retire, THEN IâllâŚâ
This wasnât what he had plannedâŚand his story can act as a catalyst for you to do something different.
To live NOWâŚenjoy your business nowâŚenjoy your life NOWâŚstop allowing chaos to determine your life.
Write your vision down, commit to a life of spreadsheets first, implement the culture you see, and subdivide your bank accounts.
My new audiobook walks through these in details. Go search Let Your Business Burn: Stop Putting Out Fires, Discover Purpose, and Build a Business That Matters.
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Join Patrice Miles, BOP Business Coach, and Austin Lopesilvero, Certified Storybrand Guide at Aspen Studios, as they unravel the power of Storytelling in the latest episode of Tuesday Tools On Purpose at My Business On Purpose Podcast.
Learn about the art of Storytelling, discover how small business owners can leverage it to transform their operations, and gain valuable insights from Austin's expertise. Don't miss out on this insightful discussion that will empower you on your business journey!
Contact Info:
Austin Lopesilvero
Aspen Studios
[email protected]
growwithaspen.com
growwithaspen.com/storybrandAre you working IN your business or ON your business? Do you have all of the foundational elements that will liberate you from the business chaos? Take the assessment to find out which areas you can grow and improve on.
Take our Healthy Owner Business Assessment HERâĄď¸ https://bit.ly/healthypatriceSIGN UP for our Newsletter HERE âĄď¸ https://www.boproadmap.com/newsletter
For blogs and updates, visit our site HERE âĄď¸ https://www.mybusinessonpurpose.com/blog/
LISTEN to the Business On Purpose Podcast HERE âĄď¸ https://podcasts.apple.com/us/podcast/my-business-on-purpose/id969222210
SUBSCRIBE to our YouTube channel HERE âĄď¸ https://www.youtube.com/channel/UCbPR8lTHY0ay4c0iqncOztg?sub_confirmation=1
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Join Patrice Miles, BOP Business Coach, and Nicole Piazza, American Paving Design, as they unravel the power of Monday.com on the latest episode of Tuesday Tools On Purpose at My Business On Purpose Podcast.
Learn about the strategic use of Monday.com for small business owners, gain insights from Nicole's firsthand experience, and discover how this tool can revolutionize your business operations.
Are you working IN your business or ON your business? Do you have all of the foundational elements that will liberate you from the business chaos? Take the assessment to find out which areas you can grow and improve on.
Take our Healthy Owner Business Assessment HEREâĄď¸ https://bit.ly/healthypatriceContact Info:
americanpavingdesign.com
843 706 7283SIGN UP for our Newsletter HERE âĄď¸ https://www.boproadmap.com/newsletter
For blogs and updates, visit our site HERE âĄď¸ https://www.mybusinessonpurpose.com/blog/
LISTEN to the Business On Purpose Podcast HERE âĄď¸ https://podcasts.apple.com/us/podcast/my-business-on-purpose/id969222210
SUBSCRIBE to our YouTube channel HERE âĄď¸ https://www.youtube.com/channel/UCbPR8lTHY0ay4c0iqncOztg?sub_confirmation=1
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The Doing Mind vs. The Thinking, Solving, Equipping, Delegating (TSED) Mind
We recently had some heroic clients in discussing their transition from the first mountain into the second mountain. All clients coming into the Business On Purpose coaching experience begin at Basecamp where they are equipped and installed with the base-level tools to begin operating their business on purpose.
These tools systematize four primary areas of priority; purpose, people, process, and profit.
At basecamp, imagine each person is getting fitted with the appropriate business harness and then we begin outfitting them with the tools of a written vision story, master process roadmap, subdivided bank accounts and dashboards, and about 23 other tools that are often either missing, or in partial form.
Upon being outfitted and equipped at basecamp, we begin climbing the business owner's first mountain where each of these tools both for the owners and key leaders are implemented and tested.
After proving to themselves the utility of these tools and enduring a few slips and falls, the owner and key leaders then begin to set their minds on the second mountain. While it takes a few years to become equipped and acclimated; owners on the second mountain climb realize that the equipment and testing they received were necessary for the second mountain climb, and yet no amount of training could prepare them for the mindset shift needed to make the important move from the âdoerâ to the âthinker/solverâ.
While in this recent meeting, I was physically watching our clients wrestle in their minds with the death of their âdoerâ mind and the awkward adolescent growth of their âthinking and solvingâ mind.
A phrase we remind our heroic owners often is, âYou must move from task-leadership to people-leadership.â
And remember, tasks never talk back. Tasks donât project emotion. Tasks move when you want them to move, and donât move when you let them sit.
People are very different.
As we worked through this death and new life scenario we stumbled upon a paradox; the doing loop vs. the thinking/solving/equipping/delegating (TSED) loop.
Here is how it works.
For those caught in the doing loop, more doing will always be their answer to challenges that should require thinking/solving/equipping/delegating (TSED) instead.
The doing then cascades into a death spiral of sorts.
Doing then leads to working too long.
Working too long leads to burnout.
Burnout leads to frustration and perpetual negativity.
The negativity is eased briefly due to an increase in short-term income (because the doing produces more immediate response).
The irritation and money then responds with consumption; consuming food, stuff, or anything that will numb the pain of more doing.
The consumption leads to emptiness which breeds bitterness.
The bitterness will spur one of two responses: more doing (leading to more spiraling) or opting out of the business altogether and doing something else.
The doing loop is endless until it is broken either by brokenness, or broken through a willful desire to begin thinking/solving/equipping/delegating.
When an owner decides to forego the easy solution of âjust doing it myselfâ and instead leans into the thinking/solving/equipping/delegating (TSED) loop, then will then break the cycle and find joy.
How?
Think about a small fire that is burning in your business right now. Just one. You could go put that fire out yourself right now. You get the joy of feeling like a micro-superhero if only for a moment and the problem is solvedâŚfor now.
The downside is that you have likely left your team feeling inadequate and certainly ill-equipped to handle the problem in the future which means you have signed yourself up for a lifetime of doing.
Or make a different choice.
The TSED model works like this.
Fire starts burning and instead of you rushing in with all of your gear to put it out, you stop.
You see the problem which invites you to think about a solution.
Once you have documented or recorded the solution, you then equip another person to permanently extinguish that fire every time it flares up in the future.
The delegation comes when you actually prepare the training, trust the other person to execute on the training, and then have a set follow-up to get a report back on progress.
You have now shown dignity, humanity, and leadership to another person while saving yourself hours of time and frustration; both of which cannot be reversed. Once time is lost, it is not recaptured. Once frustration is vented, it is out.
Think. Solve. Equip. Delegate.
We donât need you to be our superhero; you donât need to shoulder that additional weight. We need you to make time to think, solve, equip, and delegate.
By walking through the TSED loop you create efficiency and empowerment.
The efficiency and empowerment create margin.
The margin creates a profit of time, money, and connection which snowballs into generosity.
Today, you can make a choice to put on the cape of doing, or you can stay in the firehouse and make time to think, solve, equip, and delegate. One leads to a death spiral of frustration, the other leads to joy and generosity, that becomes a work worth doing and liberates you from chaos to make time for what matters most.
If you are ready to get started on the foundational basecamp equipment go to mybusinessonpurpose.com/book and grab copies of my print book, ebook, or audiobook Let Your Business Burn: Stop Putting Out Fires, Discover Purpose, and Build a Business That Matters.
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Join Patrice Miles, BOP Business Coach, and Sara Gatewood, Covenant Realty as they unravel the power of Canva Pro on the latest episode of Tuesday Tools On Purpose at My Business On Purpose Podcast.
Discover how Sara leverages Canva Pro to revolutionize her real estate endeavors, unravel the strategic insights for small business owners to harness the full potential of this tool, and gain actionable tips for creating visually compelling content that resonates with your audience.
Are you working IN your business or ON your business? Do you have all of the foundational elements that will liberate you from the business chaos? Take the assessment to find out which areas you can grow and improve on.
Take our Healthy Owner Business Assessment HEREâĄď¸ https://bit.ly/healthypatriceContact Info:
Sara Gatewood
Covenant Realty
Instagram @502KYRealEstate
Facebook @502KYRealEstate
www.LiveIn502.com
+1 502-931-4581SIGN UP for our Newsletter HERE âĄď¸ https://www.boproadmap.com/newsletter
For blogs and updates, visit our site HERE âĄď¸ https://www.mybusinessonpurpose.com/blog/
LISTEN to the Business On Purpose Podcast HERE âĄď¸ https://podcasts.apple.com/us/podcast/my-business-on-purpose/id969222210
SUBSCRIBE to our YouTube channel HERE âĄď¸ https://www.youtube.com/channel/UCbPR8lTHY0ay4c0iqncOztg?sub_confirmation=1
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The influential Andrew Carnegie said, "No person will make a great business who wants to do it all himself or get all the credit."
We just cannot seem to help ourselves. We feel like we have to do it all.
Whether it is a function of a lack of support around us (which is usually our fault for not recruiting well) or an unhealthy sized superhero ego (which is always our fault)...delegation has been a challenge literally since the beginning of time.
Great news though about delegation, when it is done right, it will change the game for you.
John Maxwell said it clearly, âIf you want to do a few small things right, do them yourself. If you want to do great things and make a big impact, learn to delegate.â
Letâs start with what delegation is, and what it is not.
Delegation isâŚ
A Transfer of authority
Craig Groeschel said âWhen you delegate tasks, you create followers. When you delegate authority, you create leaders.â
Youâve heard it before, everything rises and falls on leadership. The height of your leadership determines the height of your teamâs leadership. When you transfer authority, you empower someone else to execute and achieve the results.Delegation isâŚ
A powerful method of growth and margin
I recently read about some of the worldâs remarkable leaders like Mark Cuban, Bill Gates, Oprah Winfrey, and some of the habits they carry. Many of them read books for hours at a time. HOW? They have delegated. They realize that the growth of their team and organization are dependent on their own growth so they delegate to build margin for more growth. It is a growth snowball!
DelegationâŚ
Creates a more stable product and process
When you try to do all things every time, they are going to be done with varying levels of commitment and quality.
When you delegate one thing to someone, it will have a greater level of integrity and quality because they focus on that thing while you can turn your entire attention to the highest and best use of your time.Delegation is notâŚ
Transferring your responsibility
Jocko Wilinkâs powerful book âExtreme Ownershipâ is a punch-you-in-the-mouth reminder that even though delegation pushes down; leadership, authority, and ownership pushes up. This is why training is so crucial and why it cannot be the first thing to go when times get tough. Training empowers delegation which empowers quality and efficiency which then empowers serious competitive advantage and growth.
A lack of training empowers frustration and spirals in a decline to the wheels falling off an organizationDelegation is notâŚ
An Abdication of tasks
Healthy delegation lays out a clear role, step-by-step training, and ongoing accountability and coaching
Unhealthy abdication simply says, âHere go do thisâ and then moves on without repetitive, predictable, and meaningful training
Abdication is evidence of our own self-centeredness whereas delegation serves othersDelegation is notâŚ
Micro-Managing
Itâs easy to micro-manage; simply ask the wrong questions at wrong times
Delegation embraces repetitive, predictable, and meaningful questions at predictable times to the right people who have been repetitiously equipped with the predictable toolsBut how?
First thing to do is to write down EVERY SINGLE TASK THAT YOU DO IN YOUR BUSINESS on a spreadsheet. I mean everything!
If you answer phones, write it down. If you respond to social media messages, write it down. If you take out the trash, clean the windows, go on sales calls, sit through industry meetings, bid, estimate, job cost, or order materials...whatever you do, write it down.
Small tasks, big tasks, write it down.
Once youâve exhausted everything you can think about, then it is time to prioritize those tasks and understand exactly what they are worth and how âdelegatableâ they are.
The first column after the task could potentially be the most telling.
Your time.
Time is the most valuable commodity that you have. You cannot create more. You cannot buy more. You can not recapture what is lost.
Next to each task write down the average amount of minutes it takes you to complete this task each week.
Next is to rank your âenergyâ with these tasks.
There are one of three possibilities to indicate when filling out this column that can be done by answering a simple question.
Does this task give me energy, suck me dry, or it is so-so?â
If that task gives you energy when you have completed it, type in the word UP
If the task sucks the life out of you and you leave more drained than when you started, then type in the word DOWN.
If the tasks leaves you thinking, âThatâs ok...itâs no big dealâ then mark it with a NEUTRAL.
There you go...UP, DOWN, or NEUTRAL
Does it give you energy or does it not?
The third column is to rank the type of task this is. If this is something that ONLY YOU CAN DO, and nobody else could ever possibly do this, then you write a â1â. There should not be many of those by the way.
If this is a task that you did not think could be delegated, but the more you think about it, you think, âWell, maybe soâ, then write a â2â.
If this is a task that you know you can delegate, you should have done it a while ago, but you just havenât, then write a â3â.
You should have WAY more 2âs and 3âs than you do 1âs. If you have a lot of 1s, you need to re-evaluate how important you see yourself in the business...that is not healthy long term. Remember, great leaders cannot go to higher levels without great people.
A list of 1âs may reveal the desire to meddle.
Time for the big reveal. Once ranked, go pick all of your tasks with a â2â or â3â and âDownâ written next to it⌠especially those that take a lot of time. Once identified, ask these four questionsâŚ
Who will you delegate it to? (separate slide)
How will you train that person? (separate slide)
How will you track regular progress? (separate slide)
When will you get started? (separate slide)The final missing piece to a simple and powerful training process for you and your team is IMPLEMENTATION.
I will take a half-baked plan with full implementation versus a perfect plan with half-baked implementation.
I quote Joe Calloway all of the time because it is so powerful, âVision without IMPLEMENTATION is hallucinationâ.
If you meet with your team on a regular basis to review what you have delegated, while also delegating new tasks, it will work. If you do not share meet, it will not work.
Start delegating and stop belly-aching.
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Iâm getting to a point in my coaching career where it can feel like Iâm on a carousel. I meet heroic business owners all the time and it can feel like Groundhog Day, which was conveniently last week, as I hear some of the mistakes they are making. Many of them ask, âThomas where are we at risk?â
I figured if Iâm having that conversation with several business owners each week, so why not have it with all of you?
So thanks so much for joining today, itâs Thomas Joyner with Business on Purpose here ready to dive in on the 3 Ways contractors are putting their business at risk.
No, Iâm not talking about dodging taxes or having poor quality, or failing to build team culture. Although those are important, I want to spend some time on the ones I see most frequently putting businesses at risk across the country.
The first one I want to talk about is thisâŚnot knowing how expenses affect your bottom line. Iâve talked about this in the past, but it rears its head all over the place, and here are a few areas I see it.
Firstly, hiring. We look at industry standard instead of what the business can afford. It feels too intimidating to actually build out a Pro Forma and identify what happens to our cash flow when we hire, so we come up with a random number that is in no way based on our business's performance and we decide that we will just have to do more work. How much work? We have no clue, but weâll know it when we see it. If other businesses can afford to pay it, then surely we can too! Sound familiar?
Other areas I see it are in debt payments. We buy a truck or skid steer or scissor lift and donât think through the ramifications of long-term debt payment. Or on the flip side, we need it for a few jobs and we go out and buy one instead of just renting it on the 3 jobs we need it and it really affects our cash position long term.
This is KILLING businesses every single day. We donât forecast out our revenue and expenses in any kind of meaningful way, so we have to fly blind and we end up killing our potential profit downstream.
So, what to do about that? Build out a reliable forecast with projected revenue, cost of goods, payroll, nonpayroll expenses, and any other random expenses that will pop up like insurance, tax paymentsâŚetc.
Build a running tally of projected Net Income and then use those numbers to tweak when adding expenses like hires or equipment purchases. Can you hit your numbers with the new expenses? If not, what does revenue need to be to hit those numbers? Is that realistic? Itâs a game you have to play where every decision has a reaction. But you, the business owner, need to be on top of it.
The second way I see businesses at risk is not giving and writing down crystal clear job roles for their team.
Itâs the area I see things get dropped more than any other. We have 4 people who have overlapping job roles and no understanding of where their responsibilities start and stop. So you, then, end up with 4 people doing things slightly different, or human nature takes over and they let the one person who truly cares handle the most important parts. That person then gets burned out as the weight of the business falls on their shoulders and they leave.
This sound familiar? Absolutely it does! We expect people to know, mainly because we just wish they would take the initiative to figure it out for themselves, we expect people to know what we want them to do! And yet, it rarely works out for the better.
We have to build out an Organizational Chart that maps out responsibilities. And maybe itâs a great time for you to rebuild job roles to refine your operations instead of lean on the way you have always done it. Maybe itâs time to get in a mastermind group or ask a coach to walk alongside you and point out things you donât see because youâre stuck in a rut!
Once you have the team mapped out, you may need to build a flow chart from Awareness of your business to closed sale and then see what are all of the tasks that need assigning. It takes time, but imagine how much clarity, authority, and purpose it would give your team to know exactly what it will be held responsible for and to be able to compensate on value to the business. Oh, it would be freeing for the whole team!
Lastly, I see businesses at risk in the way they donât clearly articulate what will get them to their long-term vision. This may sound complex, but itâs not intended to be so. I see businesses chase after deals or projects that they have no reason to chase after because they donât have a clearly identified plan to get to their vision. So they add a massive remodel or a new development, or maybe a completely out-of-the-blue maintenance division just to grow revenue.
Itâs opportunity-driven, not vision-driven. Months down the road, the lead source dries up or they quickly realize itâs not as profitable as they hoped and they are left backtracking to get back to who they were in the first place.
Itâs why we spend so much time on Vision story. We want a bulletproof plan that will lead your business where you want rather than just chasing after any shiny object opportunity that happens to catch your attention and happens to offer the promise of profit.
Thereâs so much to think through here, but if you can get laser-focused on what you want to offer from a product and service standpoint, and then stay locked in with that, you stand a much better chance at reaching your vision than allowing every distraction that passes by to knock you off course.
I see it every week in the coaching world.
Alright so letâs recap, write these down, and make sure you arenât suffering from 1 or all of them.
Number 1, not knowing how expenses affect your bottom line, Number 2 not giving and writing down crystal clear job roles for their team and number 3, they donât clearly articulate what will get them to their long-term vision
Think through those and please, let us know if we can walk alongside you in those. You are not alone! And youâre not silly or ineffective as a leader for failing at any one of them! They are tricky and they take work to navigate around and through them.
But the way they set your team up for success when you can effectively manage them, thatâs running a business you can be proud of.
Hope you have a great day!
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Join Patrice Miles, BOP Business Coach, and Michele Williams, Pay Proudly, as they unravel the power of "Pay Proudly" on the latest episode of Tuesday Tools On Purpose at My Business On Purpose Podcast.
Delve into the essence of "Pay Proudly" and find out how small business owners can leverage this game-changing tool.
Are you working IN your business or ON your business? Do you have all of the foundational elements that will liberate you from the business chaos? Take the assessment to find out which areas you can grow and improve on.
Take our Healthy Owner Business Assessment HEREâĄď¸ https://bit.ly/healthypatriceMichele Williams
Pay Proudly
[email protected]SIGN UP for our Newsletter HERE âĄď¸ https://www.boproadmap.com/newsletter
For blogs and updates, visit our site HERE âĄď¸ https://www.mybusinessonpurpose.com/blog/
LISTEN to the Business On Purpose Podcast HERE âĄď¸ https://podcasts.apple.com/us/podcast/my-business-on-purpose/id969222210
SUBSCRIBE to our YouTube channel HERE âĄď¸ https://www.youtube.com/channel/UCbPR8lTHY0ay4c0iqncOztg?sub_confirmation=1
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Meet (Anad Rolyat)
Construction supply business serving a local region
(Anad Rolyat) Female owner, married with two children
Retail and supply business serving a local region
Been in business for 11 years
Massive reputation for community engagement
Working 6.5 days per week
Thinking about work even when at home
The bigger problem was thisâŚwhen we reviewed her 2015 P&LâŚhere is what it saidâŚ
$5mm worth of salesâŚ
$50k of Net Profit (1%)
1%!
$5mm worth of effort, work, marketing, sales, coordination, fear, worry, concern, frustration, stories, and peopleâŚ
$50k worth of Net Profit to show for itâŚshe could go work for someone else and yield far more in far less time.
TO add insult, Anadâs employee turnover was similar to a Taco BellâŚ
Employees coming and going, turning over like a car that just would not crank.
Anad was suffering from a variety of ills that plague the majority of business owners.
Only 4% of businesses ever see their 10th birthday?
NOâŚ#1 reason is = they get tired and pull the plug
Tired of hoping that next employee hire will fix everything and then left feeling broken
Tired growing sales and rarely seeing or enjoying the profit
Tired of being blind sided by the constant details of their business
Tired of showing up to events hoping for a silver bullet and realizing that the only silver bullet available is that is relentless implementation of the basic fundamentals how business operates.
Everytime you feel momentum, you are short circuited by chaos lurking around the corner in your blind spot.
âBut I donât have a blind spotâ I didnât think I did either.
But you doâŚ
The human eye has a location that cannot pick up light even why the eye is wide openâŚgoogle it.
I want to reveal four business blind spots that we all suffer from, and what you can do to solve them so that you canâŚ
Find and retain talent
Grow your CASH profit (not just your P&L)
Be liberated from chaos to make time for what matters most
FIRST blind spot is our unspoken commitment to chaosâŚchaos has almost become a defacto strategy in our day to day business
âScott, Iâm so addicted to chaos I donât know what I would do if things were slow and quiet!â
Khaos = Chasm or a gaping hole.
The sweat, effort, attention, and focus you give chaos is guaranteed to return very little long term.
SOLUTION #1 Commit to clarity over chaos. How?
Clarity comes by illumination, and illumination comes through light and understanding foundational things
Many of us started a biz without even considering how the organism of a biz is built
CONSTRUCTION OF A BUSINESS
5 Foundational Cornerstones
Vision
Mission
Values
Team Meetings
Hiring Process
Concrete Slab of documented processes
4 Systems (walls) of a business: Marketing, Sales, Operations, and Administration
Stop obsessing over your product, and commit to building your process
TRUTH: âYour product is not your productâŚyour process is your product.â
ACTION â write a clear and compelling vision of where your business is going is seven categories
SECOND blind spot is micro-management
We say micro-management, but no one has defined it.
Even The Office tried to get it right, and here is how it sounded, (RIP AUDIO FROM THIS YOUTUBE (:00 to :13) (INSERT BLANK SLIDE)
Why does talent fly fly away?
Is it because nobody wants to work anymore? NOâŚmillions of people want to work and want new challenges
It is because they donât want to be babysat, or left all aloneâŚthey want leadership, and leadership is not micro-management.
They showed the RPMâs of great leadershipâŚ
Repetition - they did the right things over and over and over
Predictability - they provided stability by doing those repetitive things
Meaning - and they baked a professed meaning into the repetition and predictability
I want you to think about your situation.
Would you be accused of doing meaningful things, repetitively, in a way that creates the peace of predictability?
OrâŚ
Would you be accused of reacting to small fires, chaotically, in a way that makes your team, your customer, and your partners confused?
One simple way to avoid micro-management is to simply ask the right questions at the right time and avoid the wrong questions at the wrong time.
The THIRD blind spot is admitting how much time is wasted everydayâŚ
Putting out fires that would put themselves out
Recreating the wheel that could easily be delegated
You bring someone new in who has âexperienceâ and you expect them to know how toâŚ
Run a job like you run a job
Run a report like you run a report
Talk to a customer like you talk to a customer
It must be trained at EVERY level of your business.
Coach Bill Walsh is one of the most Repetitive, Predictable, and Meaningful coaches in the history of the NFL.
In a book Coach Walsh co-authored he shares that he was so meticulous about scripting thatâŚ
he would script the first 10-15 plays of every game
He scripted how the 49erâs receptionists answered the phones
Is the first 10 to 15 days of a new employee scripted day by day?
Or do we practice the more popular strategy of âthrowing them to the wolvesâ?
And excusing it with âwell they said they had experience!â
Or hiding behind the excuse âthatâs just common sense!â
Potential employees can smell chaos, and all existing employees will eventually run away from chaos at their first opportunity.
Want to retain the team you have so that it doesnât cost you a minimum of $10k to $20k per lost employee?
SOLUTION #3 is to create a Master Process Roadmap so you can move to higher value tasks.
ACTION â Write out a simple Master Process Roadmap, and brain dump every possible process you can think of.
Review the MPR weekly during your team meetings and pick one process and take 3 to 5 mins to train on it every week.
You will bypass the crippling blind spot of wasting so much time, and create clarity for your team.
CLARITY will keep your team more than any other strategy.
The Final Blind Spot is the myth that all money is your money.
We all suffer from the same challenge as business owners. When a receivable comes into our one or two or three bank accounts, our brains believe that most if not all of it is ours.
And because it is all lumped into 1, 2, or 3 accounts we feel way more cash heavy than we really are.
Anad was generating about $420,000 EVERY MONTHâŚand yet only about $20,000 of it was actually hers to retain BEFORE taxes, depreciation, etc. $420,000 â $20,000
Her brain said she was richâŚher bank sent a very different message.
Ever feel like the front door of your business is really small (where the money comes in)...
And the back door is twice the size and WIDE OPEN?
How can you increase your cash, and actually not have to increase your Total Revenue?
You must begin a) subdividing every dollar that comes in, and then b) directing those subdividing dollars into their individual homes.
Do this over time and track it every weekâŚyou will watch your cash so it doesnât leak.
Anad was totally unaware of her blind spots, but once she allowed someone else to open her eyes to them, she implemented these four solutions, and todayâŚ
employes 65 people,
has 5 locations
has a net income to sales of 9% (AND THE CASH to prove it)...up from 1% (with no cash)
Every year takes 4 to 6 weeks away from her business while it grows without her
Are you ready to be liberated from the chaos of your blind spots and creating a culture where people want to stay?
- Visa fler
