Building any kind of empire is hard work, but it also has to be smart work. This episode is a recorded conversation between Ryan and one of his mentors, Geoff Woods. As Ryan has been building his own empire he has come to a place where various kinds of frustration have set in. He knows he needs to be doing something different but isn’t sure what it is. So he asked Jeff to speak to the issues and give him insight into what he needs to do next. As you will hear in this conversation, Ryan got some of the best advice he could get. You won’t want to miss this one. Seriously.
We think we’re being clear about our goals, but are actually only broadly stating them.
One of the most important things that became clear for Ryan in this conversation with Geoff Woods was that his goals have not been specific enough. He can state them in broad terms but when it comes to drilling down into the details of what will make each of the goals a reality, Ryan was a bit fuzzy. This conversation Jeff pushes him to clearly define the needed steps toward his goals so that he can take the precise action required to bring them about. Geoff’s insight is so clarifying you will get incredible value from what he shares.
Can you step away from your business for 6 weeks and see the value go up?
Anyone who considers themselves to be a business owner needs to ask this question, “Can I step away from my business for 6 weeks and the value of it still go up?” If you can’t honestly answer that question with an emphatic “Yes!” then you can’t rightly call yourself a business owner. In some way, the business still owns you. Of course, we all have to get to that point over time, but the question helps to clarify where we are in the process. Geoff Woods shares some of the additional questions Ryan needs to ask himself about the action required to move him to that point in his business endeavors on this episode. You could hear the entire conversation on this episode of Freedom Fast Lane.
The owner’s job is to be the recruiter and coach who equips others to fuel business growth.
Every business requires the ground level work to establish a valuable product or service that can then be offered for sale. But the point comes when the owner of the business has to step out of those ground-level roles in order to scale things to a greater degree. That’s when multiplication begins. It’s when the business really starts to have an impact. Geoff Wood says the owner’s job is to be the recruiter and coach of the business who recruits the right people for the right roles and then equips them to build out the systems that will fuel growth long-term. Don’t miss Geoff’s advice, given to Ryan in a one-on-one conversation.
As you build your empire you need to hire empire builders.
Part of building a business empire is knowing that you can’t do it on your own. When your business reaches a high enough level, the people you bring alongside to help you build the empire have to be of the same mindset and empire building nature that you are. In other words, you need to hire empire builders who can do so inside your organization. You want people who have the attitude that they are going to conquer the role they’ve been given, regardless of the obstacles. In this conversation, Geoff Woods describes what those people look like and some of the ways you can find them, so be sure you listen.
Outline Of This Great Episode
- [0:22] Ryan’s explanation of why he’s eating humble pie on this episode.
- [3:14] Learning what to focus on: applying the one thing.
- [8:12] The critical problems keeping Ryan from fulfilling his vision at this point.
- [12:44] The dream team Ryan would assemble if he were starting all over.
- [17:35] The number one role Ryan needs to fill in his company.
- [25:58] 3 things high level hires need to do in order to keep their jobs.
- [27:22] How to apply these principles with a business already established.
- [36:02] Why Geoff helps people ask questions they should be asking themselves.
Action Steps From This Episode
FOR GETTING STARTED: Refine and build a very clear, compelling vision for where you are headed. You won’t go anywhere intentional or worthwhile without it.
FOR GREATER SUCCESS: Continually be discerning what “one thing” you need to do in order to get you the most traction toward your overall goal. That’s what makes for multiplying gains in any endeavor.
Connect With Today’s guest: Geoff Woods
Resources Mentioned On This Episode
- BOOK: The One Thing
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P.S. Tickets for this year’s Capitalism Conference (Formerly Freedom Fast Lane LIVE) are now on sale. Go get your tickets here!