Send us a text Summary In this conversation, Mike and Isaiah Nolte discuss the common challenges businesses face that prevent them from reaching their full potential. He emphasises the importance of leadership in identifying and addressing these challenges to unlock growth. Takeaways The results are massive when addressing business challenges. There are 15 commonalities that cause businesses to hit a ceiling. Identifying these commonalities is crucial for growth. Leadership teams play a v...
Send us a text In this episode, Mike discusses the practical application of the Bloom Growth Model in business, focusing on identifying key business metrics that truly matter. He shares insights from his experience with the ILN and emphasises the importance of setting realistic growth goals and weekly KPIs to drive business success. Keywords Bloom Growth Model, business metrics, ILN, growth goals, KPIs Takeaways Identify business metrics that truly matter.Implement Bloom Growth Model for busi...
Send us a text In this episode, Mike discusses the evolution of company culture as businesses grow. He emphasises the need to let go of early-stage cultural practices that no longer serve larger teams and introduces five key points to help businesses adapt. These include creating structure, evolving culture, ensuring clarity, modeling leadership, and bringing values to life. Mike shares practical advice and personal anecdotes to illustrate how businesses can navigate these changes effectively...
Send us a text Find out more about working with me or about applying to join the ILN. mike@smbmastery.com.au https://www.linkedin.com/in/mikeadamscott/ https://theintentionalleaders.com/
Send us a text In this conversation, Mike discusses the practical implications of AI for small and medium-sized businesses. He emphasises the importance of organising data effectively, integrating AI into business processes, and maintaining originality and emotional intelligence in leadership. Scott highlights the need for businesses to adapt to technological changes while also recognising the enduring human elements that drive engagement and connection. takeaways AI is not just for tech ex...
Send us a text In this episode, Mike delves into the art of sustainable change, exploring how small, manageable habits can lead to significant results. Drawing from personal experiences and coaching insights, Mike discusses the importance of systems over sheer willpower and the role of identity in achieving lasting transformation. Tune in to discover practical strategies for implementing change in both personal and business contexts. Find out more about working with me or about applying to jo...
Send us a text In this episode, Mike Scott dives into the importance of challenging assumptions in business. From personal anecdotes to practical advice, Mike explores how identifying and questioning assumptions can lead to better decision-making and a more resilient company culture. Tune in to discover how embracing this mindset can transform your business processes and foster a culture of psychological safety. Find out more about working with me or about applying to join the ILN. mike@smbma...
Send us a text summary In this conversation, Mike Scott and Simon Hareb discuss the creation of the Intentional Leaders Network, a program and community designed for business owners who have experienced success but seek to integrate intentionality into all aspects of their lives. They explore the challenges leaders face, the importance of accountability, and the process of self-discovery that the network facilitates. The conversation emphasizes the need for a supportive community and the to...
Send us a text In this conversation, Mike discusses the critical importance of having open and honest discussions about equity distribution among co-founders when starting a business. He emphasises that while many assume a 50-50 split, this often leads to complications later on. Drawing inspiration from the book 'Slicing the Pie', he outlines a structured approach to fairly allocate equity based on contributions such as cash, time, resources, and intellectual property. By tracking these contr...
Send us a text In this episode, Mike Scott shares a personal experience of financial loss and explores the concept of reframing failure. He discusses the emotional journey following a significant loss and emphasizes the importance of separating one's identity from failures. By focusing on identity, environment, and habits, Mike provides insights on building resilience and navigating challenges in business and life. Takeaways Reframing failure can lead to personal growth.Experiencing loss ca...
Send us a text In this podcast episode, Mike and Gaurav Devshamar discuss the practical applications of AI in business, addressing common misconceptions, data privacy concerns, and the accessibility of AI for small and medium-sized businesses (SMBs). They explore how AI empowers generalists, automates tasks, and aids in knowledge retention, ultimately transforming business operations. The conversation emphasizes the importance of adapting to rapid changes in technology and encourages business...
Send us a text Find out more about working with me or about applying to join the ILN. mike@smbmastery.com.au https://www.linkedin.com/in/mikeadamscott/ https://theintentionalleaders.com/
Send us a text The conversation explores the importance of systems and processes in businesses, with a focus on the book 'Systemology' by David Jenyns. The main themes include the definition of systems and processes, the ideal businesses for systemization, the role of systems in reducing dependency on individuals, and the starting point for systemization in a business. The conversation also touches on the balance between systemization and creativity, the value of capturing tasks and processes...
Send us a text In this conversation, Mike discusses the importance of gaining alignment within organizations and provides practical tools to achieve it. He emphasizes that without alignment, organizations lack clarity and become leaderless, resulting in inefficiency and poor performance. Scott introduces the concept of creating a vision, using the Jim Collins and Jerry Porras framework, to establish core values, purpose, big hairy audacious goals, and vivid descriptions of the desired reality...
Send us a text In this conversation, Mike interviews Chris Wheldon, an investor and entrepreneur, about the importance of understanding and analyzing numbers in small and mid-sized businesses. Chris shares his experience in acquiring and investing in businesses and highlights the key metrics he looks at, including cash flow, profit, margin, cost structure, and return on capital. He emphasizes the need for business owners to have a strong grasp of their numbers to make informed decisions...
Send us a text In this conversation, Mike shares practical tips and tools for negotiation. He emphasizes the importance of finding leverage and using it to create a win-win outcome. He discusses the power of anchoring, where starting with a higher price or set of terms can reposition the negotiation in your favor. He also suggests using the phrase 'Is there any flexibility on this?' to negotiate better terms. Lastly, he recommends using the question 'How am I supposed to do that?' to challeng...
Send us a text In this conversation, Mike discusses the three different roles that entrepreneurs play in a small and mid-sized business: shareholder/investor, director, and employee. He emphasizes the importance of understanding and separating these roles to avoid overwhelm and maximize productivity. Scott provides a delegation framework, the 70% rule, and introduces the Eisenhower matrix as tools to prioritize tasks and focus on high-value activities. He also encourages entrepreneurs t...
Send us a text In this episode, Mike discusses who should be on a leadership team. He emphasises the importance of a strong and disciplined meeting rhythm, including annual planning, quarterly planning, weekly leadership team meetings, and daily huddles. He breaks down the primary functions of a business into operations, sales and marketing, and finance, and explains that the heads of these functions should be part of the leadership team. Mike also advises framing the invitation to join the ...
Send us a text In this episode, Mike discusses the importance of creating a company scoreboard or scorecard to increase accountability, improve data quality, and drive results. He emphasises the need for a clear artifact that defines what winning looks like and what needs to be done to achieve it. Mike explains the difference between leading indicators and lagging indicators and focuses on the former for the scorecard. He provides examples of leading indicators such as revenue, profit, Linke...
Send us a text In this episode, Mike discusses the importance of having a clear vision for a business and using a structured approach to make it usable. He draws inspiration from Jim Collins' work and emphasizes the need to start with vision before moving on to strategy and planning. Mike explains the three components of a vision: core values, purpose, and a big hairy audacious goal (BHAG). He highlights the significance of authenticity and relevance in defining these components. Mike also em...
Rafael Amaral
What a great podcast. The content is of high quality and very insightful. I get tones out of it. Well done.