A Man On Fire (A Lifetime of Riches – Part 6) – Hour 1

Audio Transcription

Do you feel like you are stuck inside your business and the better it does the worse your life is? Listen in to this episode to hear business coach Clay Clark break down the 7 steps needed to create a scalable business.

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3 Reasons That Most People Are Stuck:

1. Why don’t more people reach out for expert counsel?
2. Why don’t more people have good connections?
3. When do you need capital?

Cash Flow Quadrant

NOTABLE QUOTABLE – “You will never know true freedom until you achieve financial freedom.” – Robert T. Kiyosaki, Rich Dad’s Cashflow Quadrant

1. Employee
2. Self-Employed
3. Business Owner
4. Investor

The 7 Steps Needed to Create a Scalable Business

1. Nail down your turn-key branding (Logo, website, print pieces, auto-wraps)
   1. NOTABLE QUOTABLE – “Brand is just a perception, and perception will match reality over time. Sometimes it will be ahead, other times it will be behind. But brand is simply a collective impression some have about a product.” – Elon Musk (The legendary entrepreneur who is behind Tesla, PayPal, SpaceX, SolarCity and other successful business ventures)
   2. NOTABLE QUOTABLE – “If you give someone a present, and you give it to them in a Tiffany box, it’s likely that they’ll believe the gift has higher perceived value than if you gave it to them in no box or a box of less prestige.  That’s not because the receiver of the gift is a fool. But instead, because we live in a culture in which we gift wrap everything — our politicians, our corporate heads, our movie and TV stars, and even our toilet paper.” – Michael Levine (The public relations consultant of choice for Bill Clinton, Pizza Hut, Nike, Prince, Charlton Heston and countless top level celebrities)
   3. NOTABLE QUOTABLE – “I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.” – Warren Buffett
2. Nail down your turn-key marketing (Example – Construction Company / Home Remodeling)
   1. Marketing that does not involve your direct participation.
   2. NOTABLE QUOTABLE – “Marketing is a contest for people’s attention.” – Seth Godin (Best-selling author, marketing guru and the man who sold his successful company Yoyodyne to Yahoo for $30 million)
   3. Mystic Statistic – How Important Are Customer Reviews For Online Marketing?
      1. https://www.forbes.com/sites/jaysondemers/2015/12/28/how-important-are-customer-reviews-for-online-marketing/#4be725a41928
   4. Mystic Statistic – 81% of Shoppers Conduct Online Research Before Buying
      1. http://www.adweek.com/digital/81-shoppers-conduct-online-research-making-purchase-infographic/

1. Nail down your turn-key sales conversion (Scripts, training, accountability, recording)
   1. NOTABLE QUOTABLE – “Common sense is not so common.” – Voltaire (Famous French philosopher)
   2. Process layer
   3. Presentation layer

1. Nail down your high-quality customer service / product delivery experience
   1. NOTABLE QUOTABLE – “Be so good they can’t ignore you.” – Steve Martin (Successful stand-up comedian, actor, writer and director who has won Emmy, Grammy and American Comedy awards)
   2. FUN FACT – “33% of U.S. employees are engaged at the average job versus 70% of U.S. employees are engaged when working at the world’s best organizations.”
   3. Delegation versus abdication
      1. Script for when the phone rings
      2. On-hold music
      3. Over-head music
      4. Specific aroma
      5. Specific music
      6. Greetings in the store
      7. Retail product display
      8. Mystery shoppers
      9. Cameras
      10. Recording calls

1. Nail down your accounting
   1. Break even point per day
   2. Profit point per customer
   3. Customers do I to achieve my goals

1. Nail down your leadership / team training process
   1. Read and sign the handbook
      1. Expectations
      2. Compensation
   2. Operations Manual / Checklist
   3. Weekly / Daily – Ongoing Training
   4. NOTABLE QUOTABLE – “Always touch as person’s heart before you ask for his hand.” – John Maxwell (Best-selling author of The 21 Irrefutable Laws of Leadership)

1. Nail down consistent increases to your advertisement budget
   1. 5% of your budget
   2. 10% of your budget – aggressive