We covered so much in this episode that only the highlights are listed here. This is a must listen to episode as we cover so much ground for the business owner. Enjoy!
"Being brilliant in the basics is what makes any team move from being o.k. to being elite" - Gerald W Jones II
Brilliant in the Basics
Listen to what Gerald says in this episode about being brilliant in the basics. He is exactly right in that many business owners are missing this simple but key concept. The stuff that makes an elite business different than an o.k. business is being brilliant in the basics. How do they do that? It is all about focus and intention.
Let's talk about the D.O.P.E. business plan that Gerald outlined for us. First you must Define your strategic objectives. If you do not know where your are going you may get somewhere unintended. You and your team has to know WHERE you are going!
You must also Organize your business model so that it fits your lifestyle. If your business is contrary to your lifestyle, you will loose steam or sacrifice the all important lifestyle you dream about. In the end, burnout may very well catch up to you. Life is too short not to be intentional about your business model.
Prioritization of your work streams is important for growing and scaling your business. It is also important so you, as the owner, can spend the proper time working on your business and not in your business. The only way to be able to properly delegate, leverage your business through automation and off-loading processes is by proper systems and processes.
Execution is the key. Nothing happens through planning unless you follow up with execution and implementation. You have to create a strategic action plan and then execute it. Without action it is only a dream.
Find out more about the D.O.P.E. Business plan.
The Three Basics of Small Business
1. Know who you are targeting as a customer.
2. Maximize the Client Experience.
3. Build Relationships.
Vision, Mission and Values
Without a clear and communicated Vision, your team will not know where you are going. Without a clear and communicated Mission, your team will not know why you are doing what you do. Without clear and communicated values, the expectation of how things are to be done will not be understood.
When Vision, Mission and Values (VMV's) are crystal clear and a part of the daily activities, your team will know exactly what to do without you needing to be present. The VMV's can keep your team moving and making decisions without having to always check in. And when you are absent, they won't hesitate to keep things going in the right direction. Your team should always know what decision is appropriate. It is your responsibility as the owner to communicate the Vision, Mission and Values so clearly and so often that they are ingrained into every process and every decision made.
Every owner owes it to their family, team and business to have a thought out exit strategy. In the event an unplanned exit happens, it should not negatively impact those who rely on the business for their incomes. Sure, the exact details of an exit may change over time. That is more of a reason to routinely review the strategy periodically to capture any changes. Things do change, but with planning the downside can be mitigated and a proactive plan can be instituted.
You will leave a legacy, either good or bad. We will all leave some sort of legacy when we part this earth. Why not make it a positive one that lasts into the next generation or so? What can you do today to construct a lasting positive impact on others? I challenge each of us to be intentional on the legacy we are going to leave when we depart this earth. Hopefully it will be greater than the businesses we build. Let's use our business as a tool to impact others positively and not as just a simple source of income. We are greater than our business if we choose to be.
If you are interested in learning more from Gerald, you can get his e-book here.
Gerald's podcast is the Buy Black Podcast. I am a subscriber myself.
If you struggle with leadership or team dynamics you can reach out to us at [email protected] for more information on how we can help you.
As always, we appreciate you listening to the podcast. My favorite quote from this episode was "Once you put a thing out there, it belongs to the market", by Gerald. If you have suggestions on how to make it better, want to ask a question or have a subject idea; let us know at [email protected]. We would also love for you to go to your favorite podcast app and give us a five star rating. Thank You!
Enjoy the Journey!
PS - you can always find us at https://BusinessOwnerFreedom.com.
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