How to build a business that thrives without you - PowerPoint PPT Presentation

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How to build a business that thrives without you

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#114 - In this episode, Travis talks to successful entrepreneur and best-selling author John Warrillow. John is the founder of The Sellability Score and has written various books that help business owners automate their business and develop recurring revenue. Travis and John share various ideas to create efficient and self-sustaining business. John gave his three attributes to a product or service, which he calls TVR, teachable, valuable, and repeatable. He also points out the importance of establishing and documenting workflow to help visualize these processes to the entrepreneur and his employees. They also highlight the value of getting the metrics not only for the daily operations of the business but also helps establish the value of the business. These and so much more are what entrepreneurs can expect from this episode of the Entrepreneur’s Radio Show. – PowerPoint PPT presentation

Number of Views:15
Updated: 12 August 2014
Slides: 15
Provided by: EntrepreneursRadio
Category: Other

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Title: How to build a business that thrives without you


1
How to build a business that thrives without you
Podcast available at TheEntrepreneursRadioShow.co
m for full interview with John Warrillow
2
  • one of the best ways to see how your business is
    going to perform and whether you've got systems
    issue is to go on vacation
  • taking a vacation can be a great way to really
    start to systematize the business.

3
  • most of us think about projects along two
    dimensions, that which is urgent and those that
    are important. These two aren't necessarily the
    same thing.
  • Most of us do what is both urgent and important
    first thing, which is obvious. (Stephen Covey)

4
  • The most successful folks said hang-on. When you
    dealt with the urgent and important, go to the
    not urgent but important
  • Those folks who go to that second quadrant are
    the ones that achieve the most in life.
  • (Stephen Covey)

5
Trifecta of Scale
  • T teachable to employees
  • V valuable to the customers
  • R repeatable

6
great systems builders
  • work flowing and documenting visually helps
    employees.
  • Some employees are going to learn it better if
    they read it some by doing it,
  • Some are better by singing it.

7
great systems builders
  • There is value in getting the metrics
  • Flowcharts convey several things that words have
    a hard time conveying sometimes in a big picture
    aspect.

8
4 natural instinctive behavior
  1. quick start, the degree to which you start lots
    of things and are animated and so forth.
  2. implementer, where you're good with your hands,
    you're fixing things physically.

9
4 natural instinctive behavior
  1. fact finder, the degree to which you will seek
    facts before taking a decision.
  2. follow through, the degree to which you build
    systems and you adhere to systems.

10
4 natural instinctive behavior
  • A lot of entrepreneurs are really high-end quick
    starters.
  • So lots of ideas, but very low on follow-through.

11
qualitative market research
  • Qualitative market research where you're trying
    to gather people's feelings about something.
  • So you might do a focus group with 8 people and
    say, What do you think of Rick Perry as a
    governor? Let's talk about his strengths and
    weaknesses.

12
quantitative research
  • Quantitative research is where you're numerically
    and empirically proving a point. So it would have
    typically closed-ended questions.
  • So on a scale 0-10 how likely are you to
    recommend this to a friend or colleague. And so
    you're getting an empirical hard data point.

13
  • 90 of business owners at under 1 million do not
    drive their business based on quantitative
    information. And that's the reason why so few
    businesses ever reach a million dollars, not that
    a million dollars is special.
  • Because it's very easy to have a million dollar
    business that's not profitable as well.

14
THE ENTREPRENEURS RADIO SHOW Conversations
with Self-made Millionaires High-level
Entrepreneurs that Grow Your Business a
production of Rock Star Entrepreneur
Network www.rockstarentrepreneurnetwork.com
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