In today's episode we welcome a WealthBuilders member who is an ActionCoach, Mark Perry. Make sure to tune in if you want to hear Mark's six steps on building a business that works without you.
In this episode, we welcome another WealthBuilders member who is an ActionCoach to talk about the business pillar, which is Mark Perry. And Mark is going to talk us through the six steps to building a business that works without you. We’ll be covering a lot of information, so if you can, click the link below to download a copy of the 6 Steps Template before you begin listening. This framework breaks down each area of business and turns what can often be quite complex into an easy step by step process for you to follow.
Featured Guest: Mark Perry
Resources Mentioned In This Episode:
>> DOWNLOAD - 6 Steps to a Business that works without you [Template]
>> Episode 40: 5 Ways to Increase your Business profits with ActionCoach Chris Henry
>>Find Out More About The WealthBuilders Academy
A step by step process to help you create, build and protect your wealth.
https://www.wealthbuilders.co.uk/academy
>>Register for Free Access to the WealthBuilders Membership Site
https://www.wealthbuilders.co.uk/membership
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Unknown Speaker 0:01 The purpose of wealth talk is to educate, inform, and hopefully entertain you on the subject of building your wealth. Wealth builders recommends you should always take independent financial tax or legal advice before making any decisions around your finances.
Unknown Speaker 0:19
Welcome to Episode 41 of wealth talk. My name is Christian Rodwell, the membership director for wealth builders and I'm joined by Kevin Wayland founder low Kevin. Oh Chris Have you enjoyed your festive celebrations? I did indeed. Thank you very much. I hope you did too. Happy New Year to you and Happy New Year to all of our listeners. So good to be back in the hot seat with your cafe. It feels kind of odd after a bit of a break I had a weekend Berlin just to my wife loves Christmas market. So that was great fun. And looking forward to my version of a trip which is got a golf holiday coming up in the end of January. I'm going to Florida
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Somebody needs to get some sunshine. This weather is terrible. So let's hope we've got positive and inspiring messages today in the business pillar still, Chris. Yes, indeed. So we heard from Chris Henry in our last episode, and we talked through the five ways. And today we've got a nother guest from who is an action coach, which is Mark Perry. And Mark is going to talk us through the six steps to business that works without you.
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Yeah, and if you think about the whole concept of business, Chris businesses is you know, and I've said before, my favourite wealth building pillar, but it is the most complex because we think about other assets we've been talking about in recent podcasts like say, investing, you know, there's a process for that. If you want to invest in property, you know, there's there's a sequence in a process, you can follow four different strategies within the property pillar.
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It's very difficult to nail that for businesses because there are so many moving parts, which is why I suppose it can be so spectacularly brilliant. When you get it right, the the leverage you can get is outstanding. But for most businesses, though, they simply do not secure the real value of their business. And in the end, it becomes like a job, really, it becomes like a single source of income. So instead of being an asset, it becomes a source of income. And that's the challenge. What I just love about what the guys that action coach do is they created a structure, a system, a set of processes and checklists that they brought to the concept of business. I mean, if you think about what they've done, Chris, it's spectacularly brilliant. You know, we heard from Richard, where he talked about, you know, the value build economy.
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which I know is not an action coach concept, but action coaches use it. So they're very good at importing other people's IP. Then we heard from Chris who talked about the five ways now, anybody who applies the five ways to their business, and we're applying it in our own business only looking at our conversion rates and all sorts of things. The impact of making small changes is spectacular. And now we're hearing from Mark, where he's excluded, of course, the bit that Chris spoke about, but it's huge amount of IP. Now, this is the danger that we're going to see lots of or here rather lots and lots of information from Mark. And he gives a recommendation at the beginning of his of the podcast, Chris, he says to to get a template that they've created at action coach and ideally have that in front of you. And I would commend that I would absolutely recommend you do that. So if you're normally leveraging your time and listening to opera
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Cos when you're doing something else, fine, listen to it. And that's great. But please go back and listen again. This is one you must listen to twice and get that template, print that template out and go through it yourself. And then we'll debrief a little at the end to pick up some of the key headlines that Chris and I've spoken about. But I can't wait to hear what what we've got to learn from Mark. Yeah, absolutely. So if you're in a position to click on the show notes now then you can access that template but Kevin's just referred to right now. And but let's head over and let's have listened now to the interview with Mark Perry. Welcome to wealth talk, Mark. Thank you, Chris. So Mark, you've been a wealth builders member for for how long now?
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It's about seven or eight months. Okay, something like that. That's great. And and tell us about your connection with action coach.
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Okay, so I became an action coach about three and a half years now. ago. Now.
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I left a corporate role and was looking for something that I could do that I really enjoy doing. But I could do locally rather than at the time what was globally.
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I wanted to be a business coach, I knew about business coaching from somebody else I know in the UK, and I found the action coach franchise, which I decided to become a member of, and that's how we got into it. That's it. And, obviously, we talked about the Seven Pillars within wealth builders, and we're certainly entrenched in the business pillar here. Why do you like business in particular?
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And why do I like business? For me, it ticks all the boxes in terms of its if you get it right, it can be really exciting, really fulfilling. It's also I strongly believe business is done between people, and not just companies and I strongly believe in the power of relationships. So a lot of my background has been in
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Building really strong relationships between customers, suppliers, businesses, business units, that sort of stuff.
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And that's what I really gotta kick that off being able to achieve something, do something, something surprising, something that nobody thought you could, using the power of systems, processes people, and really making a difference. Yeah. And on the previous episode of self talk, we heard Chris Henry talking through the five ways to increase business profits. And before that, Richard Perry, who's another action coach, looked at the eight tribes of business, which was the value builder system, and you're going to take us through another aspect of the framework today on your mark. Yeah. So I'm going to take you through what we call the six steps to building a business that works without you. So the six steps framework if you like,
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as if a lot of these things.
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A framework makes the complex
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Much more simple. So, Christian, I've given you the, the PDF of what the six steps looks like. And if those of us those of you listening to the podcast, if you have chance to look at that, as we're going through this podcast that will probably help. Because as we often say, a picture tells 1000 words.
Unknown Speaker 7:21
So you have the PDF there, it also will allow people to score their own businesses themselves as a business owner on where they are on this level of six steps, which might give them some useful pointers as to what to do with their business next, yeah, definitely. So I'll link in the show notes. So if you're listening now, you can actually click on the link and that will open up the PDF and you can have a look through as Mark, you begin to explain the first step. Okay, great. So, for those of you who aren't able to look at the PDF, we see the six steps as sort of the one of the sides of the pyramid so you've got a series of steps. If you like.
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Heading upwards from the bottom, which is the widest step, and we call this the first step we call mastery. This is kind of the foundation for your business. So the first step is the one that we have to make sure it's strong enough to allow your business to develop in the way you want it to in the future. So, when we talk about building a business that can work with it without you, as action coaches, we use a certain phrase, we call it a commercial, profitable enterprise that works without you know, that does actually scare quite a few of the business owners I talked to, in that quite often. They don't want to step out of their business completely. They don't want the business to work without them. It's kind of their baby and they want to see it grow up and keep in touch with it if you like.
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So, you should see this more as a business that can work without you. Because ultimately, if you can get to that
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point, you have choice. And this is all about building choice for a business owner. It's about choice in terms of how much time you want to spend within the business. And then how much time you want to spend doing other things, wealth, building activities, time with the family, sports, whatever that might be.
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It's also about choices to what you do within the business, what roles you take what activities you do, if you want to stay within the business. And it's also about choice as to how much time you spend looking after your business.
Unknown Speaker 9:35
So really, what we're looking at here is a system that builds choice, as opposed to a system that puts you into one place that you may or may not want to go.
Unknown Speaker 9:48
So that's that's that's what we're looking at. Does that make sense? which it does, because it's a trap that I'm sure you see, with many, many business owners that they actually end up just creating a job for themselves and then
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Wearing all the many hats and they don't have the freedom that they perhaps got into business for in the first place? Yeah, absolutely. I mean, from the outside, sure people who own and run businesses see this all the time, people think you only run a business a, you must be rich and be, you must be able to take all the time off you want whenever you want and spend most of your days on the golf course. And for the majority of business owners in this country, I'd say that both of those things aren't realities.
Unknown Speaker 10:29
But they could be. And that's, that's what we work towards. So if you look at the six steps, and we take the first one, for example, this is the must be looking at the PDF. And this is about building a really strong foundation that your business can grow from. So we talked about there being four aspects to mastery. The first is destination mastery, knowing where your business is going. And a really great question for this is something that a lot of
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people I talked to you have difficulty answering. And that's what does your business look like when it's finished?
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Now,
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that talks about the A lot, a lot of people don't get the idea that actually a business could be finished. Because they're thinking in terms of a job, a job that they will just turn up to and turn up to internet and keep doing until at some point in the future, they will retire in some way, shape or form.
Unknown Speaker 11:24
But first of all, I'd encourage anybody owning running a business at this point, to decide what actually their fixed endpoint is, whether it's an exit strategy. So if you go back to the the podcast from Richard Perry, this may be about building your business to sell. Or it may be about building your business that leaves a legacy to the next generation, if you have family that want to come through. Or it may be about building a business that can run without you so that you can build a passive income. Maybe this is part of your retirement plans, who knows? But whatever it is,
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it's really important that you get that in
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end in mind as a business owner, because without that destination without that direction of where the business is going, you may or may not get there, you'll get somewhere, but it might not be where you wanted to go in the first place. So it's really important that we start with the end in mind. And if you look at the the destination part of the mastery level, we talk about building a really good business one.
Unknown Speaker 12:24
So I'm not talking about a 40 page document that you were like once every so often to put in front of the banks. And then for the rest of the time, and then you go into the bank. Again, it sits in the drawer of the finance controllers office, and talking about a business plan that you can use to show and motivate your team inspire your team to help them move their business in your business or in the right direction and get it where it wants to go.
Unknown Speaker 12:52
We also look at Okay, so what are the 10 five, three and one year goals for your business? Some businesses don't have 10 year goals why
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One of the businesses I'm working with at the beginning was absolutely very clear. They wanted to build a business that could sell within three years that was it done finished. They weren't looking at five years, 10 years, they were out of the business at that point. So it's whatever the long term future is for your business that counts. And then, once you've got your one year view, where do you want to get to in a year, we look at how you break that down into quarterly chunks. So what do you have to do in the next 90 days to get your business a quarter of the way to where you want it in that first year. Because if you manage to do that, you'll manage to hit your first year, then you manage your third year, and then you take your business to where you want it to go. So the destination theme is all about building a really clear vision for you, your business and the rest of your team about where the business is going, and what you need to do to get there. And that's what we mean by a business plan. It's not the traditional 40 page unusable document that you
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We're like the banks.
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So the first element being destination, we then look at the next element, which is about time. So this fits really well with the wealth builders leverage acronym, the first acronym that we use. So the team first within wealth builders
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refers to leverage point. If you can't leverage time, then you need to find other ways of building wealth. And time is really important for us at the foundation level of what we do in action coach as well. Because without ensure that the owners of the business and the people within the business have the right time available to focus on the right tasks, then you can't build the business in the direction that you want to go. If you're permanently reacting. If there is no time to deal with the really urge, or really important password in your business, so that you can build it as well as keep the business operating.
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on a day to day basis, then there's no way to build.
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So those two are really the elements that the majority of people I talked to, in the first instance,
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want to fix within their business?
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What we generally find is, if you have a business that's been running for three or five years, generally you're doing the right things. In terms of the day to day delivery of the business.
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The question would be, is that going to get you where you want to go? And how you manage? asked to make sure that you are able to follow that path? Does that make sense? Question? Yeah, yeah, absolutely does.
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Okay, so the other two elements of the foundation level, the mastery level within our six steps, our delivery mastery. So this isn't about this isn't about having the best delivery of whatever product or services that you do.
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In in your marketplace, even at this point, but it is about building a consistent experience your customers, so that when we get to the next level, which is all about growth, building customers building audit within your business, that you're not losing customers as quickly as you're bringing them in. So delivery has to be consistent. It has to be
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as good as it needs to be to retain your customers in whatever it is that you do. And it has to be
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process driven. So the experience that customers receive is great. And it's consistently Great.
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So delivery is an area where a lot of businesses, especially those who those businesses started by somebody who really understands their field really well.
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Delivery tends to be one of the areas that most businesses are quite good at if they managed to survive the first three or five years.
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So generally you don't spend a lot of time on that inside.
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Businesses we do. And again, the scorecard that you can download the download allows you to look at this from your business perspective and Mark yourself if you'd like us to as to whether this is something that that you need to focus on or not.
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Finally, in the mastery level, we look at financial mastery. Now, this is quite an interesting one, because
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a lot of the businesses I work with initially don't have the appropriate financial measures and key performance indicators in place to understand how well the business is doing. We've been talking to a number of people recently who, whilst they understand that their businesses making money, they may have three or four profit product lines within that business and they don't know which of those are highly profitable. And in some cases, which are not profitable at all. So when we talk about financial mastery, yeah, we talked
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about the basics so the basics being a monthly profit and loss statement that you can analyse and make decisions with.
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Also a good view of your data balance so your debt today's your day sales outstanding, your, your your receivables if you like. And again, you'd be surprised how many businesses are profitable but are allowing so much of their money sit within other people's bank accounts because they're not being paid on time.
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And we also as a basic would look at cash flow. So the three basics p&l debtors and cash flow are absolutely the minimal levels of financially mastery you need to get it to be able to run your business a little bit more sophisticated. Then we go into product line profitability. You're going to understand the and leverage on the balance sheet. We look at breaking point which is back down to product line profitability and
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We can start looking at turning your financial numbers into some sort of dashboard that you can use to let me know if you're still on track in terms of where you want your business to go.
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So, in terms of the mastery level, those are the four key elements of what you need to get right in order to build a foundation that your business can grow on. Yeah, I like that. So just to recap for for everyone listening now. So of the six Step Pyramid, we've discovered step one, which is mastery, and that's almost got four building blocks hasn't had that destination, time delivery and financial. Yeah, that's right. And what you find is we, most businesses, you don't need to go into all of them at the same time, there will be one or two that needs some attention, and the others will generally be going okay.
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The other element you find is as the business grows and scales, it's not linear, you tend to go in growth spurts. Then in consolidation phases, then another growth spurt, then a consolidation phase.
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As you go through each consolidation phase, it's good to look back at the foundation that will the mastery level, because the foundation for a smaller business may not be the suitable foundation that you need to get to the level of growth, maybe two or three phases further on.
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So we do keep coming back to that to make sure that your foundation is strong enough for the next level of growth. That's great. And that second step. Okay, so the second step we call niche. Now, a lot of this, we've got six elements and niche five of them are the five ways which Chris Henry explained to us all on the last podcast.
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So I don't intend to go into those. But what I would say about niche is the principle of niche is to build a business that is special enough, that is nice enough to be able to take you away from purely private fighting on price.
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The principle being that okay, you need to be
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charging a price studies realistic in your marketplace. But it doesn't necessarily need to be a low one, it needs to be in the ballpark. But you can certainly be top end. And if you look at the the first element of that your unique selling point, your USP, and the guarantees that you offer are a good way to think about how you build your specific niche within your industry. Because if you can get that, right, all of a sudden you can compete on things other than price.
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And this is where we look at creating a profitable enterprise, as well as an enterprise that can just sell stuff and receive money for it. That's right. And as you say, in our last episode, Episode 40 Chris Henry took us through the five ways to increase your business profits and that is all of those elements that are in step two there such as you know, number leads, measuring conversion rates, average spend number of transactions, so definitely head on back to Episode 42 dive into that, but as you say, if you don't have that first
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That that foundation in place, then you know you're not in the right position to be measuring these factors, are you? Absolutely. So if you if you can't understand profit line, product line profitability, or you can't see your monthly p&l, or you can't check your cash flow or whatever it is, then it's really difficult to make the other measures in the five ways work for you anyway. So that moves on to the third step. Yep. This is a leverage step. Not to be confused with the wealth builders Leverage System. But there are similarities again, and this is about how you build leverage within your system in your business. Sorry. So this is about building systems and processes that can make the business work without having to rely too much on any single individual. So we use a another phrase to illustrate this, which is that
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you should look to
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systemize the routine. So you have pretty
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This isn't systems that drive routine aspects of your business. And you should look to humanise the exception. So if you think about the team within your business, you've got some great people in your business. Would you rather have them spending time fixing broken systems? Making workarounds for things that don't work properly? dealing with things that haven't worked and having to put them right again? Or would you rather have them working well with the special stuff that you can provide as a business to make your customer experience even better. So if you have strong systems and processes in place, and you can train and develop your team so that they can provide the great customer contact for the exception, elements that don't fit necessarily within the routine, then you've got a winning formula there, in that you're administering the business as cost effectively and as delivery effectively as possible through systems and processes. But you've also got great people
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involved when customers need that little bit extra or that little bit more of that little bit of advice or whatever it might be. So many businesses don't have time to look after what makes it things special for their customers, because that people are too busy trying to run a business that doesn't have effective processes in place.
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If you think to your own experiences of how you deal with some of the larger companies that we deal with in the UK, I've got a couple of special ones that I I know every time I ring them, the system and process won't work. And I know that it's going to be a very, very painful task just to get a routine thing done. I'm thinking certain telecoms providers, I'm thinking certain
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TV and internet providers, for example.
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Yeah, if that's not the reputation you want for your business.
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So, leverage is important, because when we think about commercial, profitable enterprise that works without you. The first step the mastery step is the commercial one.
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So this isn't a hobby. This is a true proper business that's built on good sound business principles. It's profitable because you built your niche, using the five ways, the USPS and the guarantees that we've got there. And it works because the leverage level of the six steps is providing the systems and processes, but also just as importantly, the time and the expertise for your team to deal with the 20% of non routine stuff that that we all have to do.
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And eventually, we get to the fourth step in the pyramid, which is the bit about the business that works without you. We call that the team level. So if you think about a business that can work without you, I'd encourage everyone listening to this from the perspective of a business owner, to actually just take a moment and draw out the organisation chart that your business will need to have in the next three to five years. That will make sense for the business that will help the business work and operate really well and see where you
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Your name in which boxes your name has to be. Because realistically what we want to be designing here is an organisation that that doesn't need you to be in any of the boxes. So as you get through the layers of the people who do the work of your business into the management layers, maybe of your business, who's in that box that says MD or general manager or whatever it is within your business, if that's you, and you want it to be you, that's fine. How much time do you want to put into that? How do you want that to work? For everything else? It's about how do you make sure that you're building the right team, to allow you to step back to the extent that you want from your business in that period of time. Now, some of my clients, what we've decided is actually we're going to start building our own team bottom up, so they have many academies, if you like where they bring apprentices into the business, which allows everybody in their business the progress through and we kind of build people into the that the employees that we want for that
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Companies so they don't pick up all the bad habits from the rest of the industry. So that's one way of doing it. Another way of doing it is having amazing recruitment systems. So you know how to get the right people. And the right people is not necessarily all about skill.
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Yes, people need a minimum skill level, but they also need to have the right attitude, be the right people fit with the team and be able to make it work.
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Finally, we look at things like the environment of the company, what's the company culture, how's that being led and managed? What's the points of culture within the company that allow people to really enjoy coming to work there, know that they're delivering
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a really worthwhile day's work, but actually, they're also working hard and appreciating the fact that the company is working for them.
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So the team level is all about the right people in the right places within your business and understanding where you fit within that. So those four levels
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Build with a commercial profitable enterprise that works without you.
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The final two levels final two steps of in the six steps. synergy is about the one that says okay, so at this point, you've got the right team in place, you understand how to make your business work from a process perspective. You understand how to
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build the sales and marketing machine for your business through the niche lm elements, which is USP guarantee and five ways and you've got a really strong foundation. So in theory, now you have everything you need to build the operating manual for your business. Which means if you want to replicate that business, let's say you have a trade business somewhere in the north of England, the plumber or an electrician somewhere in the north of England, and you want to replicate that in the next county or maybe in the in the Midlands or the South of England. What you have if you built the structure, right is the operating manual that teaches you how to do that. A little bit like McDonald's when they open a new McDonald's franchise. It's it's written down
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how you go about doing it from the how you acquire the land to how you build the restaurant, to how you recruit the team, and so on. So it's quite easy to replicate.
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And finally, the sixth level is when actually you stop being the business owner. And if you if anybody's read, Rich Dad, Poor Dad by Robert Kiyosaki, this is the transition from business owner to investor if you like. So what you've created here, and we call this the results level, is the results from the business that you've grown and replicated. And you no longer have to be working in for all of your working week, to be able to generate the leverage in terms of financial leverage systems leverage and time leverage, going back to the wealth builders first system to be able to invest more rather than run the business. So this is when you become the investor. That might be more outlets in your business. That might be other businesses. It might be property, it might be stock market investments, it might be some other form of passive income, but that's when you stop being the owner.
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business and you start being an investor with that business in their portfolio.
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Does that make sense question? It certainly does make sense mark that is really, really insightful. And I'm looking at the scorecard as we're talking through this. If, as mentioned earlier, you haven't got access to that then definitely do click on the note, the show notes and and download a copy of this because it's got everything laid out. In fact, there's 20 different aspects there. I'm just counting them up mark, where you can just score yourself out of 10. And, you know, it's incredible. So, thank you so much for sharing that with us, Mark. And I know that that is going to be a huge value to everybody who's focusing on their business pillar. And thank you for your time today.
Unknown Speaker 30:47
No problem. And Christian as you said before, if anybody wants to talk this through a bit more detail, because it is a quite a complex framework that difficult to explain in a very short period of time. Then there are
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Action coaches myself within the wealth builders programme, feel free to contact me. We also have Chris Henry, Richard Perry, Chris Warren, and willing Roy Gryphon, the wealth builders community and I'm sure all of those would be happy to help anybody further with this if they wanted to talk through the six steps Yeah, sure they will appreciate that. Thank you, Matt. No problem. Thanks, Chris.
Unknown Speaker 31:22
Right So Mark has taken us through quite comprehensively their system to allow anyone to really create a commercial profitable business that runs without you. What were your thoughts there Kevin? Well, as I listened to a you know, a new here the levels and you can see it very clearly. If you got that template out. You got the was that the pyramid structure isn't it really, which is the niche which then really just getting you to start to establish yourself in business and get I suppose get consistency you know, consistent cash flow, consistent delivery.
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getting a handle on the numbers, you've really got a sense that you're no longer just learning how to be in business, you're you're getting results in business that started to be predictable. And, and so the levels go up. But what it reminded me of Chris, I don't know about you, although it doesn't look the same. It felt a little bit like the five levels of wealth.
Unknown Speaker 32:22
You know, so first level of wealth, which is when you're trying to identify where you are. So in wealth speak, we talk about is the income that's recurring month by month from your assets, enough to pay your bills that would enable you to, you know, to essentially cover your life costs. And if not, you're a level of insecurity. Well, in the business, that's level niche, isn't it? That's saying, get a handle on your business because it isn't yet allowing you to be free. You're probably for many people in the business.
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At that level still may be earning less money than you might make in a job. or certainly putting in longer hours. You know, I love spending time on my holidays, and I talked about the beginning. But many people in businesses and niche level are really working every single hour that God sends on day. And we see this Don't be Chris all over the place.
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The second level is once you've achieved that niche, and using the five ways, and then you get into leverage, which is then you've got that security, you've got the feeling that everything is working, you can then start to focus on the people, and the delivery, and the money, and the systems and the technology. And that felt like it was the right step two, and then it was moving up towards independence where you're building a team around you. You've got recruitment sorted, you've got the right culture, you've got a whole process of building a team and your team are buying into the story and the culture of the business. And then finally, you're getting
Unknown Speaker 34:00
To a place of essentially getting all those results with the people around you. So in truth, you are no longer needed. And in the end, all good businesses must be built that way. Because a good business is not dependent on the owner is then capable of being sold, whether it's sold to yourself and you keep it, whether it's sold to an acquirer, whether it's sold to a family member, or whether it's sold to employees, and I use the word sold loosely, because only really selling to an acquirer will give you a premium price for the work that you put in and I encourage everybody to think about that first, then it felt a bit like the level so when I listened to it, I almost felt there was a natural synergy between wealth builders and action coach in the way that they articulate their system and processes and the same way. We've applied the thoughts to wealth building, Chris
Unknown Speaker 35:00
I was really impressed by it. Hmm, I like that. Yeah. And obviously the system as Mark referred is all about setting up your business. So it gives you that choice. And it's so important to start with the end in mind. And I liked as well how Mark said, you know, decide on what your one year, your five year maybe even your 10 year goals are with your business, but then, you know, just look at year one, and break that down into 90 days so that you can track your progress and make sure that you're on target. And that's really important. Yeah, that was another thing that was a parallel with our thoughts, too is no you know, we we know Chris, if let's test each other out him if if I was to say to you, what do you think the number one reason we've discovered through our coaching of people this year through our membership programmes, what is the number one reason why people struggle to make that wealth? It's a, there's two things that come to mind. And one is one is overwhelm
Unknown Speaker 36:00
One is time. That's it. So the overwhelm and the other one is time, of course. But the overwhelm issue is a huge, huge issue because people see so much information. There are so many core sellers out there, there are so many places you can buy books, listen to books, download information, you can be, you can become completely swamped with information when in fact, you know, as we've articulated, our own process is turning one wheel at a time. And inaction coach big that's 90 days at a time and ours is 30 days at a time. But either way, it doesn't matter. You could turn the wealth wheel in 90 days if you wanted to. And that's, that's fine too. It's just focusing on the next step ahead. Not trying to understand everything, just what do you need to do in the next, whatever that period of time is? 30 days, 60 days, 90 days and in some respects it almost
Unknown Speaker 37:00
Made me feel a bit like both action coach and wealth builders are trying to create a sat nav system, a step by step process. But a Sat Nav depends on two things, doesn't it? Chris? It depends, first of all, and we're working out where the hell you want to get to. But a Sat Nav is nothing unless you knew where you are right now. So you have to know where you are now, which means in wealth speak, where are you on the wealth levels? And the inaction coach speak Where are you and which bit of the business are you focused on? Is it knishes at leverage is a team is it synergy and once you begin to get the language of this, it should be really easy to know a Where are you be where you going? Not necessarily in 10 years, but say in the next 90 days, even if it works backwards from the next 12 months, then you've got yourself a process you can follow. And I think the two things go hand in hand and we're wealth builders will never be
Unknown Speaker 37:56
you know, as clued in on the intricate working
Unknown Speaker 38:00
of the systems of the IP, that actually coach have taken decades to discover. And while you know we have an affinity to action coach, why would say whoever you can get support to help you understand where you are in your business, whether you want to start a business and, and to follow a process, whatever process resonates with you. Get yourself a coach, wealth building. business building is done better when you've got accountability. And you've got someone who can steer you in a direction rather than you get caught up in the swamp and the quagmire that is the overwhelm of information that's out there. And whoever you choose, whoever you resonate, please, please, please do that in 2020 get some kind of support from somebody you truly resonate with, who you understand what is got some expertise and what
Unknown Speaker 39:00
You're looking to learn, and you feel an affinity that their outcome and your outcomes are aligned. And that's what I would encourage everybody to do. For the next 12 months, at least, I would completely agree with that. And if anyone would like to find out more about action coach, then we can put a link, let's do wealth builders.co.uk, forward slash action coach, and we can showcase all of our guests from the previous few weeks, including Mark today as well. So if anyone would like to get in touch with them directly, and that would be a good place to do. So. That would be great. And I think there's
Unknown Speaker 39:32
something like I'm not sure because you know, I don't know the exact numbers. But I think you know, there's over 150 coaches, maybe even 200 coaches in the UK, so there's bound to be somebody close to you. And we can certainly help try and, you know, match up people to expertise. I mean, for example, you know, some people are experts in a certain field of business, and that would be more helpful. Others are more generalist
Unknown Speaker 40:00
But either way, whether it's wealth coaching, whether it's business coaching, whatever you doing, that's going to build your wealth in some way. I'll just encourage you to find a coach that will help you. So we've covered the business pillar quite extensively, Kevin. And we certainly have an eye on the next pillar, which is intellectual property. And it kind of flows from business into intellectual property very often. Well, if you think about it, logically, you only have intellectual property that's seriously worth transferring. When you get to the point in your business, or in your life, that you've done it enough times that you can prove it and then you've got an A freedom of time, to be able to craft that into a message that other people would want to buy, whether they buy it in terms of
Unknown Speaker 40:50
simply getting access to it online, offline in books, or whether it's training, or whether it's coaching, whether it's mentoring, whatever it would be, but the thing, there's one more area
Unknown Speaker 41:00
I don't know whether we could tie this up, Chris, before we finished business. If not, we'll bring it in pretty soon, is I do want to spend a little bit of time, at least one podcast on the art and science of selling a business. Because we've talked about, you know, a business as a wealth creation asset. If it isn't, it can end up being, you know, a time sucking live draining thing as well, it can really, instead of walking away wealthy, a lot of people just walk away weary. They don't get the outcome they want from their business. And I want to change that by bringing at least one or two people who've got experience in understanding how businesses can be sold and how to position your business. That at least gives you a sense of what your business is truly worth. And a way that you don't have that option with many other assets. You know, you just don't have that same ability to create a massive exit strategy, like you're doing
Unknown Speaker 42:00
business that sounds good to me, Kevin. I look forward to that episode. Yeah, I look forward to I've got a couple of people lined up Chris so it might be the next one or it might be the in the next few weeks, but either way, it's definitely on the table. Thanks your time today, Kevin, and thank you to everyone for listening to after GSE
Unknown Speaker 42:19
We hope you enjoyed today's episode. Don't forget that we are constantly updating our resources inside the wealth builders membership site to help you create, build and protect your wealth. Head over to wealth builders.co.uk slash membership right now for free access. That's wealth builders.co.uk slash membership
Transcribed by https://otter.ai