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Where do you want your business to be in a year? How about 10? Here’s why those questions are important… Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. The vision statement, where will we be in five years? 10 years, 20 years from now? Where will we be in one year? Where will we be in three years? What does the future look like for the business in our mind's eye? When we close our eyes and think about our business? What do we see? I know what do you see. Next, our values statement, what do we hope our business will be remembered? As, what are we here to contribute? Who are we here to educate? What experience will people come away from? How will we empower our clients? How will we make our customers feel better about themselves and their lives and their businesses, if that's appropriate, by being part of our organization, whether they be an employee or a customer. What are we going to stand for? What are our priorities for our business? Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
Why does your business exist? Who does it serve? What’s its unique idea? Carl helps you through these questions and more… Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. We talked about our outcome, what is our outcome for stage one? Our outcome is to design our future and we're going to do this using our seven stage power tools, designing our mission, vision and values. Our purpose statement, we're going to do our business plans, our marketing plans, our sales plans, our milestones, planning, in order to give ourselves the best chance of success. So how do we do, how do we design a mission statement? Well, our mission statement, essentially we ask, why does this business exist? What are we here to do? Who are we here to serve? What is our product, our service or our unique ideas? answer those questions. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
Some of the world’s most successful companies spun familiar products into industries of their own. Carl explains the Creative Plane. Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. Your business can operate on one of two planes, the competitive plane where you are literally fighting with all the same people for the same dollar, or the creative plane where you create something new or you perfect something that is existing to the point where people seek you out. So, Apple Computer is very innovative, the iPod, the iPhone, for example, and there'll be more. And Starbucks, for example, took a bean and made it into the industry it is today. They took something that's existing coffee, been around forever. They made it into an industry of its own, and they eliminated their competition, they created an industry in which they now lead. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
Formulate your vision. Design your success. Carl explains Stage 1. Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. Stage one, the strategic planning stage. Whether you are a new business, a startup business or an existing business that is seeking to launch a new product, a new division, or bring in a new brand to your product offerings, you need to either visit or revisit the strategic planning stage. This is an opportunity for you to formulate and create your vision and design your success because as we said before, at this stage, a dream is born, you are designing here, you're going to set the direction for your business or your product or your service then you are going to sell it and then create it later. We talked about the personal seat licenses where stadiums pre sell their seats before the stadium has ever built. Apple Computer, pre-sold the iPhone very successfully. Ray Kroc and now franchisors around the world, sell business concepts and business systems prior to them even being built. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
One reason to start a business is to sell it. Carl explains the succession stage. Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. If you choose to go through to stage seven, whether you choose to sell your business or not, it is still part of the success cycle to position your company that it is sellable. Because in the end, the business is its own person, and they need to be a positive cash producing asset and that's what makes it sellable. Stage seven, the succession stage. This is when a legacy is born, you're firing on all cylinders. You are an MVP business and an MVP organization. You have strong direction, robust sales, consistent systems, you have quality products and controls, you can now pass this business along you can donate it, you can will it or sell it to somebody or you can keep it as a cash producing annuity or asset and that success cycle from stage one to stage seven can be a 36 month journey, follow the methodology and in 36 months you can go from startup to seven figures and be in a position to succeed your business or sell it in 36 months or less. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
Stage 6 is the saleability stage: When new products sell themselves and you can expand into new locations. Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. When you bring your business to the sustainability stage, you can now expand open up new locations, introduce new products, because your business is now sustainable and that leads you to stage six. Stage six is the saleability stage. A star is born. Why do people start a business? Well, one of the many reasons to start a business is to sell it. When you begin at stage one with stage seven in mind. When you design a stage one, you're thinking of stage seven, where am I going to be in five years? That's revision, you might be starting the business with the succession or the sale in mind. You're now a credit worthy and investor friendly business. At this point, your focus turns back to sales. The work you are doing is rewarding you in spades. You make the books look fantastic and this is not a time for overhauling the business.  Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
The stage of exponential growth is almost unfairly rewarding! Here’s why… Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. The average Starbucks patron, given a 20 day work month, goes to Starbucks 18, out of those 20 days, most of those people will pass multiple vendors that sell the same product for a fraction of the cost. Yet people will pass by local vendors, local stores, local delis, local diners, where they can get a cup of coffee for under a dollar on their way to buying a $3 to $4 cup of coffee at Starbucks, why? And they'll do it 18 out of 20 days that they have the opportunity to do so, because the systems are the star. They no longer are attached to the personality of the owner and your sales continue to grow exponentially they explode. You are unfairly rewarded at this level. You are unfairly rewarded on the positive side at this level. All of the work you've put into this point you are now rewarded for in spades and over and over and over again and at this stage, this is the first time you can start to think about expansion. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
When a business becomes a franchise,  you’ve reached the sustainability stage. Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. Stage Five is called sustainability stage. A franchise is born, a franchise is born, whether it's informal or formally called a franchise. You are at the point now where the systems of your business become the Rockstar. The systems work in the business, you work on the business, the systems run the business, and you just oversee them.  Intelligent incremental improvements, the quality that becomes the culture. Look at Starbucks, look at McDonald's, look at the types of companies that you go to on a regular basis. Southwest Airlines. These are among the most profitable leaders in their industry and their culture is about small yet incremental, very intelligent improvements to their quality. They have it down to a science and because they give you that level of certainty, and because you get a significant experience every time you go there, you're connected to that company. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
Here’s when improvements begin to pay off! Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. As you move through the mid to late part of this particular stage, sales will start to grow exponentially, because in the mid part, you're improving the systems and this is where we talked about our intelligent, incremental improvements to quality. As you improve each one of these little systems and the people in it start to improve and exponentially sales begin to grow and in the latter parts in the late part of the stage, your overall quality begins to improve and that's what will lead to the increased rise in sales as you get to the late part of the stage, which moves us into stage five. As you begin this culture of intelligent, incremental improvements to quality you’ve soon moved into the realm of becoming a stage five business. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
You know you're in Stage 4 when things happen without you. Here’s what to expect… Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. Every job starts to develop its own personality. That's how you know you're in stage four, where things happen without you, the pace of your business will actually slow a little bit, you'll come into the office and it'll seem calm, things are running smoothly, you may not be used to this, this is not the fast pace, go, go, go, go go of  stage one and two, it has slowed down a little bit. Things have calmed a bit. It doesn't mean you're moving slower as a business. It means internally, you're running much more efficiently. So early in stage four, you're going to have a very internal focus, because you're building and you're creating these systems. And it's much like when you teach your kids to walk or you learn how to ride a bike, you have your hand by the seat of their pants, and by the seat of the bicycle, just in case they falter a little bit. So early on, there's a very much of an internal focus. Your sales might actually dip just a bit there, because you're going to spend time on your internal client which is your employees. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
Structure and flexibility: Both are needed to make stage 4. Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. Hear what I'm saying now, because we're saying that there are no systems yet we do not want systems, it's too early. But we want a structure. And we need to be flexible. And we need to place trust in others, even when we watch and they are making mistakes. This is hard for an entrepreneur to do, especially when they're so technically savvy in their business. So self management becomes very, very important in this area. So we go on to stage four. If you make it through stage three, you go to stage four, stage four is the system's stage, a true business is born, you're going to create and manage systems with the people in the sandbox, you know you're in stage four, when you lay out the job descriptions and the tasks and the processes and the people that are already in your structure. Do them on their own. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
Most businesses FAIL in Stage 3. Here’s how to make the miracle 1%. Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. You are your toughest client. And stage three is the graveyard for most businesses, most businesses will fail in stage three, it is the toughest 1% of growth in your business. And we say that if you make it through this, you have made it through the miracle 1% of growth in your business, you are among the minority of businesses that will ever make it out 10%, 1 out of 10 businesses will be ultimately successful. You are among that one, because you made it through the miracle 1%. The reason why it's a graveyard for small business owners is that it requires you to not only manage yourself, also it requires you to start to put structure in place. This is the same structure that you moved away from earlier in your career or neglected in your last business or enterprise. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
Stage three is the synergy stage. Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. Because as you move into late stage two, you want to be an expert in your field, you want to be among the highest paid in your area, you want to have the highest acclaim or credentials in your particular field. You want to be known as the master in that particular area as you move into late stage two, stage three. Stage three is the synergy stage. And a sandbox is born. How do you know you're in stage three? You're in stage three, because you just hired somebody else. Why is a sandbox born because you need to play nice with others in the sandbox. No throwing sand, no kicking dirt, no biting, no punching, no scratching. You need to play nice with others. You're going to focus on delegating, building that structure that we talked about, that organizational chart, you're going to train other people you're going to, you need to look and play nice with others. You need to be patient with yourself here. Very, very important. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
The quality of your product determines your expertise in a field. #70SecondCEO podcast Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. And you also want to build the quality of your product and your service, build your credentials and you're gonna have a minor focus on sales, you need to keep that cash coming in early on especially. So you want the quality to go up, you want to build your core competency, and you can stay here forever. Every stage, by the way, has three trimesters. There's an early part of the stage, a mid part of the stage and a late part of the stage. And I bring that up here because stage two is where most businesses reside. The Rolling Stones are in late stage two, very mature part of the stage, early part of the stage, you're going to focus on the quality of your product. If you just launched a pizzeria or a deli, you need to make sure you have the best food. So word gets around and people come back how much you might discount or charge for that is less important than making a really quality product. Then as you move into the mid part of the stage, you want to build your brand, your credentials, gather testimonials, continue to hone the quality of your product, your skills, your education, your credentials. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
How do you know when your business has left stage 1? Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. If your goal is to have at least one paying customer, then you have the minimum goal of getting to stage two. And remember, we said that I'm not here to tell you what stage is the right stage for you and unless you're in this for the exercise, you will automatically go to stage two, the moment anyone purchased your product, service or idea, your widget. So if your goal is to have at least one paying customer, that means you have the goal to get to at least stage two, you can stay at any stage forever. As soon as someone pays you though, you will leave stage one so you can maximize stage one by doing your planning. Once that planning is done, you have your first client, you're now a stage two. Stage two is the specialty stage. Since you have a paying client, a job is born, you now have a job to do. You focus on continuously implementing your direction. Pushing through, the Marketplace will resist you, must push through. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
Where’s your business right now? Carl gives an overview of the 7 stages. Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. So what are these seven stages? We've been talking about them a lot already. Let me give you an overview of each of the seven stages before we get more into it. Stage one is the strategic planning stage. This is where your dream is born, you're going to focus on the direction, the planning of your company, you're going to sell your business first, then you're going to create it. Well, what the heck does that mean? Have you ever heard of a franchise? Ray Kroc, way back when he had the idea of selling businesses to people when they didn't exist, and then creating them later on. He actually had to convince the government that it was not fraudulent. Have you ever bought a home or an apartment just by looking at the building plans when there was nothing but a hole in the ground, and a building was going to be built later on? That build or that developer sold the business first, created second. A very common practice in this day and age when they build new sports arenas is they sell what's called Personal seat licenses before the venue is ever built. They sell you the right to buy that seat once it's made. In other words, they sold the whole stadium. They sold out the stadium before the stadium was ever built. Have you ever bought a ticket to a performance that has not debuted yet? Have you ever pre purchased a book or a record album or musical album or DVD or CD? Anyone who pre sells anything, is selling the business first and creating second. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
Do you find business ownership lonely and stressful? Do you wish it were more enjoyable? Then don’t miss this podcast! Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. And that's what we're after. It has been said that being a business owner is the toughest and loneliest position in business. Wouldn't you agree? You don't make it tough and lonely, is you're flying by the seat of your pants in the middle of the night with no gauges and no plan and what will make it easier and simpler and more enjoyable? If you simply plan things out in the stages. Don't skip a stage. Take them step by step by step and enjoy each step as you go. It's a wonderfully rewarding evolution of yourself, the people in your business, your customers, and the actual business itself. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
Startup to seven figures in just 3 years? Sound too good to be true? It’s not! Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. How do you go from startup to seven figures in just three years? That might seem like an incredibly daunting task and it's really not. It is about synchronizing and aligning your activity, your very effective day to day activity, your short term effectiveness with your long term efficiency and that efficiency will be determined by how aligned are you with your big picture planning. Keep it very, very simple. Keep it very structured, keep it very systematic. Remember, we said earlier, spreadsheets planning, weekly meetings that will become some of the sexiest things you ever do in business. When I first heard that, I thought maybe I should rethink being in a business, this is not what I want out of my business and now I can't wait for these things. Because it's not necessarily the spreadsheet whether I'm producing it or reading it, that's sexy that satisfies me. It's the result I get from it, because I'm organized, because I'm structured and because I have systems, I reap the benefits of the results of that. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
We all define “success” our own way. And your definition will determine what your “dream business” looks like. Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. Keep in mind, your business needs to be nurtured. Just as you would have a pet just as you would have a baby. For this dream to remain a dream for you to achieve your vision, you have to have the right people in the right job aligned with the company mission, vision, values and purpose. There is no other way and we are all going to define our success differently. What is success to you? Is it more time? Is it more money? Did you build this business to get more acclaim and acknowledgement status? Is it for family reasons? Did you want to create a legacy that you want to contribute something to society? Did you want to make a contribution to a church or a charity at some point, we all have our own reasons for getting in business for dreaming and we all define success our own way. And as we said, by focusing on achievement over activity by working smarter rather than harder, we can go very systematically through the seven stages, or we can maximize the stage we are at in order to realize our dream. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
The dream of becoming a business owner can turn into a nightmare if you’re not prepared! Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results. In the success cycle, you have chosen to make a great leap, a great leap of faith, a great leap of risk. You are now the business owner. And I heard someone say recently, well, it was my dream to be a business owner and I asked them, are you living the dream? Or is it a nightmare? And they said, Well, I really thought I was going to make more money, I was going to get more time. And I asked him the question, you have kids, right? He said, Yes, I do, and I said, did you have children because you wanted more sleep?'' And he thought about it for a moment and realized, at that moment, what he got himself into, by starting a business. We all have a dream, that owning a business or starting a business is our path to freedom. And it is, it absolutely is on your way to heaven. You must dip your toes and walk through the path of hell on your way there. Success in business can be elusive, because it's harder but as one of my favorite actors said in one of my favorite movies, “it's the heart that makes it great. If it was easy, everyone would be doing it. It's the heart that makes it great”. That was Tom Hanks in the movie, A League of Their Own. Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.
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