The way that you should build a business is with the intent to sell it.
Most tasks that a business does are repeated over and over again.
If you can create a process around those tasks, you can put many other people in that role to complete the task. This means, you can take yourself out of that role, and that you can also scale your business… and this also makes it ripe for selling!
“Do not build a job, build a business,” says attorney Josh Brown.
In This Podcast, You’ll Learn:
- How to find the perfect job for you!
- The hedgehog concept from Jim Collins’ book, Good to Great.
- True wealth and why it is a journey.
- Why expenses are so important.
- What franchising is, and what you need to look for.
- The most important thing to understand about franchising.
- When you should trust your gut.
- And much more!
Definition of Wealth:
- Wealth is when you’re to a point that you can do what you want when you want. It isn’t represented in dollars, it is part of the big picture. Wealth is a state of being, a state of happiness, a state of success. Money is important – it is the ultimate scorecard – but you have to be on a journey that you want to be on.
- The Go Giver – You can’t build your money or wealth without learning how to sell!
- Built to Sell – Build your company from the outset in a way that is ripe to sell!
Best Piece of Financial Advice:
- It’s all about the expenses. Minimize the expenses, maximize the revenue. Keep expenses down, but don’t do it at the expense of your growth.
Action In Next 7 Days:
- Write down what you like and dislike, what your goals are, what would you do even if you didn’t make any money.
Don’t get on the wrong path; follow your own vision.
Connect with Josh:
I love that Josh says:
People think that since they’re young and don’t have the experience, that they can’t trust their own intuition. I think that’s garbage!
This is spot on. Spend the time now to figure out what you want to do for the rest of your life.
You have one shot, and it only gets harder and harder to change careers or take a leap of faith. Figure out what you want to do, and per Josh, even more so what you don’t want to do. And make sure you’re headed down a path that is to your own liking.
Trust what your gut is telling you, and don’t ignore it.
- Spend the time now to make sure you’re on a journey that is your own.
- Go through Josh’s exercise:
- What do you like and dislike to do?
- What are your goals?
- What would you do if money weren’t an issue?
- Use this information to help get you on your journey towards wealth. Once you get on it, you won’t get off! But most do not even get on it.
- Think about what tasks you do regularly. How can you create a better system for them?
- Learn how to sell!! It is invaluable!
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