1 00:00:00,558 --> 00:00:01,898 Hi, this is George Samman. 2 00:00:01,898 --> 00:00:04,008 I'm the founder and CEO of Growth Drive. 3 00:00:04,008 --> 00:00:07,858 Growth Drive is the number one best -selling business advising platform, and 4 00:00:07,858 --> 00:00:11,378 this is our podcast, The Business Advisor Hot Seat. 5 00:00:11,378 --> 00:00:15,298 Now in the hot seat, you're going to hear from industry leaders, thought leaders, 6 00:00:15,298 --> 00:00:19,278 your colleagues who are going to share tips, techniques, war stories about 7 00:00:19,278 --> 00:00:23,458 building a thriving advisory business based on delivering client wins. 8 00:00:23,458 --> 00:00:24,388 We're going to get into it. 9 00:00:24,388 --> 00:00:29,118 We'll get into it about the Growth Drive methodology, the clarity software, what we 10 00:00:29,118 --> 00:00:30,382 see out in the world. 11 00:00:30,382 --> 00:00:32,642 so much more than just the system. 12 00:00:32,642 --> 00:00:38,002 And I'm also the author of The Growth Driving Advisor, which is based on over a 13 00:00:38,002 --> 00:00:41,882 decade of being an advisor to advisor, working with you and your colleagues, 14 00:00:41,882 --> 00:00:46,142 helping them build their practices, helping them through client engagements. 15 00:00:46,142 --> 00:00:51,322 And it's really proven strategies for leading businesses from stuck to best in 16 00:00:51,322 --> 00:00:51,842 class. 17 00:00:51,842 --> 00:00:53,042 Check it out. 18 00:00:53,042 --> 00:00:54,862 So strap in. 19 00:00:54,862 --> 00:00:56,282 We're going to light this up. 20 00:00:56,282 --> 00:00:57,742 Here we go. 21 00:00:58,018 --> 00:01:02,758 Our guest this week is my friend John Fulwiter, PhD. 22 00:01:02,958 --> 00:01:07,288 And John is a certified exit planner with a fantastic background. 23 00:01:07,288 --> 00:01:12,558 You know, he's been about 15 years in business coaching and strategic planning 24 00:01:12,558 --> 00:01:13,398 and execution. 25 00:01:13,398 --> 00:01:16,018 He's been one here in the VOS. 26 00:01:16,018 --> 00:01:21,258 He's been most recently with Pinnacle Guides, both terrific programs. 27 00:01:21,258 --> 00:01:27,298 And John and I are in fact collaborating on a CEO facing book. 28 00:01:27,298 --> 00:01:30,498 about getting unstuck and growing a business. 29 00:01:30,718 --> 00:01:33,693 So strap in, here we go. 30 00:01:33,803 --> 00:01:36,183 This episode is brought to you by Growth Drive. 31 00:01:36,183 --> 00:01:40,843 Growth Drive is the number one best -selling business advising platform with 32 00:01:40,843 --> 00:01:46,163 training, technology, and support you need to get the success you want. 33 00:01:46,163 --> 00:01:50,943 Find a way to engagements, expand your reach and impact, and build a thriving 34 00:01:50,943 --> 00:01:54,303 advisory business based on delivering client wins. 35 00:01:54,303 --> 00:01:58,843 Growth Drive, find out more at growthdrive .com. 36 00:03:14,746 --> 00:03:16,506 Well, welcome ladies and gentlemen. 37 00:03:16,506 --> 00:03:21,736 This is George and this week I'm really excited to welcome John Fullwiter. 38 00:03:21,736 --> 00:03:27,746 John has a tremendous background in business advisory. 39 00:03:27,746 --> 00:03:31,766 You've been doing this for a long, long time and you have a lot of specific 40 00:03:31,766 --> 00:03:32,847 experience. 41 00:03:32,847 --> 00:03:36,926 with using some of the top systems out there. 42 00:03:36,926 --> 00:03:39,507 And we'll jump into that detail. 43 00:03:39,507 --> 00:03:41,287 So welcome, John. 44 00:03:41,907 --> 00:03:47,247 And why don't we start by you sharing a little bit of a better view of who you are 45 00:03:47,247 --> 00:03:48,687 and why clients hire you. 46 00:03:48,687 --> 00:03:51,957 Yeah, thanks for having me on, George. 47 00:03:51,957 --> 00:03:53,807 It's an honor. 48 00:03:53,807 --> 00:03:57,917 I'll start with where I come from in terms of my family. 49 00:03:57,917 --> 00:03:59,487 That's where I always start. 50 00:03:59,487 --> 00:03:59,918 So... 51 00:03:59,918 --> 00:04:03,018 Happily married for 25 years. 52 00:04:03,018 --> 00:04:05,118 My wife is a nursing professor. 53 00:04:05,118 --> 00:04:13,118 We've got three cute kids living in the best city in the United States, Lincoln, 54 00:04:13,118 --> 00:04:14,478 Nebraska. 55 00:04:15,098 --> 00:04:17,898 Loving our life here. 56 00:04:17,898 --> 00:04:23,298 In terms of my business background, yeah, I have been at business advising for quite 57 00:04:23,298 --> 00:04:25,454 a few years, coming on 15 now. 58 00:04:25,454 --> 00:04:32,214 Working as you say with the major systems, I was a professional EOS implementer 59 00:04:32,214 --> 00:04:34,524 trained by Gino and his team. 60 00:04:34,524 --> 00:04:40,534 And then some EOS implementers left and started their own business operating 61 00:04:40,534 --> 00:04:42,034 system called Pinnacle. 62 00:04:42,034 --> 00:04:45,754 So I was involved with Pinnacle for a number of years. 63 00:04:45,754 --> 00:04:52,534 And now I'm delighted to have expanded my toolkit with your stuff, Growth Drive. 64 00:04:52,534 --> 00:04:52,794 Awesome. 65 00:04:52,794 --> 00:04:54,194 Thank you. 66 00:04:55,406 --> 00:04:56,616 Yeah, that's terrific. 67 00:04:56,616 --> 00:05:01,046 I mean, those are outstanding systems. 68 00:05:01,186 --> 00:05:08,986 And honestly, it's a kick to have a guy with your depth of experience using our 69 00:05:08,986 --> 00:05:11,746 tools, our methodology and your engagements. 70 00:05:11,746 --> 00:05:14,906 And what type of companies do you work with, John? 71 00:05:15,246 --> 00:05:23,206 Yeah, privately held companies employing anywhere from four people to several 72 00:05:23,206 --> 00:05:24,174 hundred. 73 00:05:24,174 --> 00:05:29,854 It's not so much the type of company that matters as it is the type of owner, right? 74 00:05:29,854 --> 00:05:36,334 I work with business owners who are coachable, who are absolutely convinced 75 00:05:36,334 --> 00:05:41,414 that there's a next level for themselves and for their businesses, and they want 76 00:05:41,414 --> 00:05:42,994 help getting there. 77 00:05:43,254 --> 00:05:44,334 Yeah. 78 00:05:44,334 --> 00:05:51,194 And yeah, I love, you know, those guys, ladies and gentlemen, John has a 79 00:05:51,194 --> 00:05:52,324 qualification process. 80 00:05:52,324 --> 00:05:53,646 He has standards. 81 00:05:53,646 --> 00:06:00,016 that his clients need to meet and that is a best practice, right? 82 00:06:00,016 --> 00:06:04,126 And why do you qualify people so diligently? 83 00:06:04,266 --> 00:06:08,666 Well, because they won't get the value out of the work if we don't. 84 00:06:08,666 --> 00:06:14,986 If they're not coachable, they won't take the advice, they won't pursue the growth 85 00:06:14,986 --> 00:06:16,326 initiatives. 86 00:06:16,406 --> 00:06:18,254 If they don't... 87 00:06:18,254 --> 00:06:22,934 want to grow, well, it's a little bit of a circular argument. 88 00:06:22,934 --> 00:06:24,454 They won't want to grow. 89 00:06:24,454 --> 00:06:33,274 Hey, there's a ton of business owners out there who have bitten, scraped, and clawed 90 00:06:33,274 --> 00:06:37,674 their way to a stable business. 91 00:06:37,674 --> 00:06:42,434 And it has been a long and hard road. 92 00:06:42,434 --> 00:06:47,982 And they are reluctant to upset the Apple cart by 93 00:06:47,982 --> 00:06:49,982 trying a growth initiative. 94 00:06:49,982 --> 00:06:53,422 And so they stay where they are, right? 95 00:06:53,422 --> 00:06:57,422 Barely beating inflation each year. 96 00:06:57,422 --> 00:07:01,112 That's not the type of person that works well with me. 97 00:07:01,112 --> 00:07:04,101 The person who works well with me has big dreams. 98 00:07:04,101 --> 00:07:05,922 Yeah, I love that. 99 00:07:05,922 --> 00:07:06,682 I love that. 100 00:07:06,682 --> 00:07:10,362 Because if you want to see an ROI, you have to put the work in, right? 101 00:07:10,362 --> 00:07:11,902 That's like everything in life. 102 00:07:11,902 --> 00:07:14,362 You have to put the work in. 103 00:07:14,522 --> 00:07:17,534 And yeah, outstanding. 104 00:07:18,254 --> 00:07:21,294 You know, you and I have a lot of conversations. 105 00:07:21,294 --> 00:07:25,754 We talk about you, actually one of our earliest conversations was about the 106 00:07:25,754 --> 00:07:29,474 business as an engine and the engine as an analogy. 107 00:07:29,634 --> 00:07:39,014 And in fact, you and I are collaborating on a book that'll go out that's a CEO 108 00:07:39,014 --> 00:07:40,074 facing. 109 00:07:40,074 --> 00:07:45,614 And you want to describe that a little bit from your perspective. 110 00:07:45,614 --> 00:07:49,914 Yeah, I'm excited to collaborate with you on that. 111 00:07:49,914 --> 00:07:55,834 You know, everybody watching listening, if you don't already know, George is a 112 00:07:55,834 --> 00:07:56,644 talented guy. 113 00:07:56,644 --> 00:08:02,654 And if you're a business advisor, like a lot of the people who watch the show, I 114 00:08:02,654 --> 00:08:07,954 mean, you need to read his book, The Growth Driving Advisor, which presents 115 00:08:07,954 --> 00:08:13,774 what I'll call a quantitative model of business growth. 116 00:08:13,774 --> 00:08:20,554 as opposed to what you see in the business operating systems like Pinnacle, like 117 00:08:20,554 --> 00:08:26,314 Traction, like Scaling Up, where it's more qualitative, right? 118 00:08:26,314 --> 00:08:33,874 Set rocks, set annual goals that are aimed at growth, sure, but what kind of growth 119 00:08:33,874 --> 00:08:35,674 and how much? 120 00:08:35,674 --> 00:08:40,014 It tends to be, oh, a tad fuzzy. 121 00:08:40,014 --> 00:08:47,114 right, with business operating systems left to their own devices. 122 00:08:47,114 --> 00:08:52,614 You know, a business operating system is really an execution system for executing 123 00:08:52,614 --> 00:08:54,274 on the owner's vision. 124 00:08:54,274 --> 00:09:03,474 And what I found is that the owner's vision isn't often shared by or seen in 125 00:09:03,474 --> 00:09:05,006 the same terms by. 126 00:09:05,006 --> 00:09:07,046 the senior leadership team. 127 00:09:07,046 --> 00:09:11,026 And George, your research has proven that out too. 128 00:09:11,026 --> 00:09:20,806 You've done the comparison reports on the initial view of where the business is in 129 00:09:20,806 --> 00:09:24,666 terms of the three dimensions of business growth that we're gonna talk about here in 130 00:09:24,666 --> 00:09:25,266 a second. 131 00:09:25,266 --> 00:09:27,566 And you found, what is it? 132 00:09:27,566 --> 00:09:32,726 99 % of the time they're not aligned and 1 % they are. 133 00:09:32,786 --> 00:09:33,786 That's right. 134 00:09:33,786 --> 00:09:34,542 Yeah. 135 00:09:34,542 --> 00:09:39,042 it's essentially, yeah, that's a good description. 136 00:09:39,042 --> 00:09:39,982 Right. 137 00:09:39,982 --> 00:09:44,482 And so, you know, with my experience in business operating systems, I've 138 00:09:44,482 --> 00:09:53,062 encountered a lot of situations where the owner's priorities get kind of short 139 00:09:53,062 --> 00:09:59,492 shrift, get not mentioned at all, get delegated to the leadership team. 140 00:09:59,492 --> 00:10:00,582 You were going to say, George? 141 00:10:00,582 --> 00:10:02,726 No, no, I'm been... 142 00:10:03,086 --> 00:10:04,296 Sound agreement, yeah. 143 00:10:04,296 --> 00:10:05,226 Yeah, yeah. 144 00:10:05,226 --> 00:10:11,466 So, you know, they get delegated to the leadership team and leadership teams 145 00:10:11,466 --> 00:10:17,316 often, in my experience, are that kind of in name only, right? 146 00:10:17,316 --> 00:10:25,106 They're glorified doers who have been given a fancy title for the purpose of the 147 00:10:25,106 --> 00:10:29,366 business operating systems accountability chart exercise. 148 00:10:29,806 --> 00:10:32,814 And they end up, 149 00:10:32,814 --> 00:10:39,354 setting rocks, setting annual goals that are pretty much just writing down on a 150 00:10:39,354 --> 00:10:42,014 sheet of paper what they were gonna do anyway. 151 00:10:42,014 --> 00:10:48,934 And those what they were gonna do anyway are not true move the needle initiatives 152 00:10:48,934 --> 00:10:55,874 on what matter to business owners and those being predictable profit and 153 00:10:55,874 --> 00:11:01,870 cashflow, predictable, sustainable revenue growth and... 154 00:11:01,870 --> 00:11:05,030 predictable transferable value. 155 00:11:05,030 --> 00:11:05,670 Yeah. 156 00:11:05,670 --> 00:11:06,470 Yeah. 157 00:11:06,470 --> 00:11:07,250 Yeah. 158 00:11:07,250 --> 00:11:10,590 That's a lot of, I don't want to, I'm going to say, I'm going to use the term 159 00:11:10,590 --> 00:11:17,410 navel gazing, but that's, that's not really fair, but, but my personal beef and 160 00:11:17,410 --> 00:11:23,210 feel free to shoot me down, but my personal, I contend that those systems 161 00:11:23,210 --> 00:11:28,398 promote internal conversations without considering the outside world. 162 00:11:28,398 --> 00:11:30,908 What do we know and what do we think we're capable of? 163 00:11:30,908 --> 00:11:32,798 How do we see the world? 164 00:11:32,798 --> 00:11:39,738 And it's very much like people living on an island unaware that the rest of the 165 00:11:39,738 --> 00:11:42,238 human race is around them. 166 00:11:42,238 --> 00:11:47,478 And they live on that island and they have their mores and they're not really 167 00:11:47,478 --> 00:11:52,298 considering that, for example, we're growing barely faster than inflation or 168 00:11:52,298 --> 00:11:53,618 we're profitable. 169 00:11:53,618 --> 00:11:57,422 You have X points of margin, but you know that your industry is double. 170 00:11:57,422 --> 00:11:59,602 and you haven't really considered that. 171 00:11:59,602 --> 00:12:02,622 Those are just, those are easy high level views. 172 00:12:02,622 --> 00:12:04,022 I think you're right. 173 00:12:04,022 --> 00:12:05,442 And... 174 00:12:05,442 --> 00:12:07,622 Well, let's not call it navel gazing. 175 00:12:07,622 --> 00:12:14,922 Let's call it looking right over the bumper at what is right in front of the 176 00:12:14,922 --> 00:12:14,942 vehicle. 177 00:12:14,942 --> 00:12:16,342 That's a better description. 178 00:12:16,342 --> 00:12:24,482 You know, in our collaboration, we're kind of describing the business owners 179 00:12:24,482 --> 00:12:25,806 business. 180 00:12:25,806 --> 00:12:28,286 as a stock car, right? 181 00:12:28,286 --> 00:12:35,126 Based on the analogy everybody's heard of, entrepreneurs will often say, I'm building 182 00:12:35,126 --> 00:12:37,046 the plane as I fly it, right? 183 00:12:37,046 --> 00:12:41,966 Or I'm packing the parachute after I've already jumped out of the plane. 184 00:12:41,966 --> 00:12:44,886 And those are fine analogies and everybody gets it, right? 185 00:12:44,886 --> 00:12:50,126 But not everybody has actually flown a plane or actually jumped out of an 186 00:12:50,126 --> 00:12:50,426 airplane. 187 00:12:50,426 --> 00:12:52,558 Everyone has driven a car. 188 00:12:52,558 --> 00:12:52,998 Right? 189 00:12:52,998 --> 00:13:02,098 And so we describe the business as a car that is speeding along toward a 190 00:13:02,098 --> 00:13:03,858 destination, right? 191 00:13:03,858 --> 00:13:09,438 And it's the business owner's job to decide what's the destination. 192 00:13:09,998 --> 00:13:15,318 And what's that quote, you know, be careful if you don't know where you're 193 00:13:15,318 --> 00:13:17,478 going because you might get there. 194 00:13:17,478 --> 00:13:21,278 Or there's another quotation that says, 195 00:13:21,678 --> 00:13:29,538 Be careful the road that you take, because any road will get you to somewhere, but 196 00:13:29,538 --> 00:13:34,458 we've got to get you where you want to be as a business owner. 197 00:13:34,458 --> 00:13:40,478 And George, your research with what, several thousand, tens of thousands, 50 198 00:13:40,478 --> 00:13:45,778 ,000 business owner respondents has shown that they want three things. 199 00:13:46,078 --> 00:13:51,098 First, they want growth, and we want them to have sustainable growth. 200 00:13:51,098 --> 00:13:51,662 Yeah. 201 00:13:51,662 --> 00:13:52,902 62%. 202 00:13:52,902 --> 00:13:53,242 Yep. 203 00:13:53,242 --> 00:13:58,902 Second, they want the business to be easier and more fun to run, which comes 204 00:13:58,902 --> 00:14:01,782 from predictable profit and cashflow. 205 00:14:01,782 --> 00:14:10,462 And some of them are preparing to exit in some way, which means that they need a 206 00:14:10,462 --> 00:14:13,442 company that's exitable. 207 00:14:13,962 --> 00:14:17,602 They need transferable value. 208 00:14:17,602 --> 00:14:21,734 And we both know that in the 209 00:14:21,806 --> 00:14:27,726 vast majority of companies, the value that you've created, the wealth that you've 210 00:14:27,726 --> 00:14:29,696 generated isn't transferable. 211 00:14:29,696 --> 00:14:31,566 Someone wouldn't buy it. 212 00:14:31,566 --> 00:14:37,466 In the present state of your company, now that's fixable, of course. 213 00:14:37,466 --> 00:14:41,926 Which is where you and your colleagues come in, which is where the three 214 00:14:41,926 --> 00:14:45,636 dimensions of growth methodology, the growth drive platform comes in, 215 00:14:45,636 --> 00:14:46,166 absolutely. 216 00:14:46,166 --> 00:14:49,866 And supports, we have, 217 00:14:50,574 --> 00:14:58,994 members, subscribers from all walks, former Vistage chairs, EOS implementers, 218 00:14:58,994 --> 00:15:02,554 former EOS implementers, former Pinnacle. 219 00:15:02,614 --> 00:15:05,414 I could go on and on, a lot of fractional CFO. 220 00:15:05,414 --> 00:15:09,874 They're using their own, they're using their oar system. 221 00:15:09,874 --> 00:15:14,534 And what we're doing is augmenting it, improving the efficiency of research and 222 00:15:14,534 --> 00:15:19,246 bringing a diligence to the party that are a rigor to the... 223 00:15:19,246 --> 00:15:24,446 to the understanding of the business that I think, I obviously think is needed. 224 00:15:24,446 --> 00:15:25,986 Hey, you wanna talk for a sec? 225 00:15:25,986 --> 00:15:30,626 You hit on something earlier that I'd love to pull the thread on. 226 00:15:31,666 --> 00:15:37,126 When a business operating system is deployed, I believe you and I talked about 227 00:15:37,126 --> 00:15:41,786 the average, you have a long, well over a decade, 15 years, right? 228 00:15:41,786 --> 00:15:43,626 That is a long time experience. 229 00:15:43,626 --> 00:15:47,342 About how long does the CEO and... 230 00:15:47,342 --> 00:15:51,270 her or his senior team stay with that operating system. 231 00:15:53,838 --> 00:15:57,158 Not very, right? 232 00:15:57,158 --> 00:16:05,078 So, you know, EOS is designed to have the client graduate after two years, you know, 233 00:16:05,078 --> 00:16:11,118 work with the EOS implementer for two years and then go off and do it on your 234 00:16:11,118 --> 00:16:12,078 own. 235 00:16:12,258 --> 00:16:18,338 The, man, the sad reality in my experience, right, and that of, you know, 236 00:16:18,338 --> 00:16:21,966 many other professionals is that, 237 00:16:21,966 --> 00:16:29,966 the business operating system never makes it all the way down to the ground, right? 238 00:16:29,966 --> 00:16:38,185 It often stops at the senior leadership team, maybe makes it to the senior manager 239 00:16:38,185 --> 00:16:44,966 level, but you know, the line managers, the line workers, it doesn't make it down 240 00:16:44,966 --> 00:16:45,902 that far. 241 00:16:45,902 --> 00:16:51,362 Now I'm a big fan of a push EOS Worldwide has been making lately. 242 00:16:51,362 --> 00:16:54,302 You see it all over the socials. 243 00:16:54,382 --> 00:17:00,402 They're doing the how to be a great boss workshops just all the time. 244 00:17:00,482 --> 00:17:06,042 And I think and I hope, I'm obviously not on the inside anymore, but I hope that 245 00:17:06,042 --> 00:17:13,902 that is part of their strategy to get the business operating system used by everyone 246 00:17:13,902 --> 00:17:15,002 in the company. 247 00:17:15,002 --> 00:17:15,622 But, 248 00:17:15,630 --> 00:17:25,810 an inability to get the business operating system cascaded all the way down to every 249 00:17:25,810 --> 00:17:29,930 employee is one of the reasons that it doesn't work. 250 00:17:29,930 --> 00:17:35,210 And another is business operating system fatigue. 251 00:17:35,570 --> 00:17:41,198 And that's where, well, I mean, like we were saying earlier, 252 00:17:41,198 --> 00:17:47,698 they're basically just writing down what it is that they were going to do anyway, 253 00:17:48,798 --> 00:17:57,378 not making exciting for the owner strides in the value of this company, in the 254 00:17:57,378 --> 00:18:05,118 predictability and industry leading amount of its profit and cashflow, not leading to 255 00:18:05,118 --> 00:18:07,338 sustainable revenue growth. 256 00:18:07,338 --> 00:18:11,150 And then they just kind of... 257 00:18:11,150 --> 00:18:13,610 drop off and lose the discipline. 258 00:18:13,610 --> 00:18:15,830 And that is for, I'm gonna make two comments. 259 00:18:15,830 --> 00:18:18,530 First of all, I love the fact that EOS is pushing. 260 00:18:18,530 --> 00:18:24,310 This is a very important market that we all need to make better, improve. 261 00:18:24,310 --> 00:18:30,070 And I'm happy to hear that EOS is doing things to push the system deeper into the 262 00:18:30,070 --> 00:18:30,440 businesses. 263 00:18:30,440 --> 00:18:32,090 And I wish them all success. 264 00:18:32,090 --> 00:18:37,794 It's a huge market and we can all collaborate towards this common goal. 265 00:18:37,806 --> 00:18:42,286 which is having businesses that are immortal, businesses that serve the 266 00:18:42,286 --> 00:18:43,126 communities they enter. 267 00:18:43,126 --> 00:18:44,706 I'm up on my stump. 268 00:18:44,706 --> 00:18:49,566 But businesses that serve their stakeholders and their communities. 269 00:18:50,146 --> 00:18:52,006 And that's really the name of the game. 270 00:18:52,006 --> 00:18:57,266 And I know you and I see the world through that same lens. 271 00:18:58,186 --> 00:18:59,186 Yeah, EOS fatigue. 272 00:18:59,186 --> 00:19:02,286 I've heard that from several people. 273 00:19:02,286 --> 00:19:06,886 I don't know if it's a term out there, but I don't think it's EOS fatigue so much as 274 00:19:06,886 --> 00:19:07,502 it's... 275 00:19:07,502 --> 00:19:11,042 It's, they get over the, something shiny. 276 00:19:11,042 --> 00:19:12,802 It's easy to fall back. 277 00:19:12,802 --> 00:19:13,482 We all do it. 278 00:19:13,482 --> 00:19:14,682 Think about going to the gym, right? 279 00:19:14,682 --> 00:19:16,902 It's easy to fall back into old habits. 280 00:19:16,902 --> 00:19:17,202 Yeah. 281 00:19:17,202 --> 00:19:21,962 And then suddenly think that going to the gym twice a week is going to have the same 282 00:19:21,962 --> 00:19:24,362 impact as going to the gym five times a week. 283 00:19:24,562 --> 00:19:28,762 And, and falling back into old habits, something shiny. 284 00:19:29,142 --> 00:19:32,842 There's the, there's the expense, not really understanding the ROI, something 285 00:19:32,842 --> 00:19:36,270 that we, we try to hammer home. 286 00:19:36,270 --> 00:19:37,330 Yes. 287 00:19:37,790 --> 00:19:42,450 And then there's the flip side of that, which is when you start doing EOS or any 288 00:19:42,450 --> 00:19:49,670 other growth drive, doing something is exponentially better than doing nothing. 289 00:19:49,670 --> 00:19:54,770 So when you start doing something, you start seeing results and it's maintaining 290 00:19:54,770 --> 00:20:01,750 that doing something that is the challenge that we really, we're all working hard to 291 00:20:01,750 --> 00:20:03,590 make sure that the market does. 292 00:20:03,590 --> 00:20:05,230 All right, I'm off my stuff. 293 00:20:06,158 --> 00:20:13,418 Yeah, so you actually came up with an analogy I love, and this is the genesis of 294 00:20:13,418 --> 00:20:18,398 us deciding to work together to collaborate, is the concept of... 295 00:20:18,398 --> 00:20:23,738 So we've been saying view your business as an engine and measure the gears inside 296 00:20:23,738 --> 00:20:28,078 that engine and the health of each of the gears and their ability to mesh together 297 00:20:28,078 --> 00:20:29,578 to generate an output. 298 00:20:29,578 --> 00:20:34,178 And that output is profits and cash and value. 299 00:20:34,178 --> 00:20:35,886 And you said, well, you have... 300 00:20:35,886 --> 00:20:39,666 And I hand it over to you, where did you take it? 301 00:20:39,666 --> 00:20:46,386 Well, so George, you invented the three dimensions of business growth, the profit 302 00:20:46,386 --> 00:20:49,566 dimension, the revenue dimension and the value dimension. 303 00:20:49,566 --> 00:20:57,666 And you had eight objectives and key results per growth dimension, total of 24. 304 00:20:57,666 --> 00:21:04,746 And for some reason, what just popped into my head is three V8 engines. 305 00:21:04,782 --> 00:21:11,862 And so I sketched out a stock car that, you know, kind of humorously has a 306 00:21:11,862 --> 00:21:15,802 gigantic engine compartment with three different engines in there. 307 00:21:15,802 --> 00:21:26,082 And the cool thing about the way the engines are connected with each other in 308 00:21:26,082 --> 00:21:32,702 real life inside your business and also sort of conceptually is that there's no 309 00:21:32,702 --> 00:21:34,406 bad place to start. 310 00:21:34,574 --> 00:21:35,314 Right? 311 00:21:35,314 --> 00:21:43,554 You can tune up your profit engine and leave your revenue and value engine alone 312 00:21:43,554 --> 00:21:44,954 for the next 90 days. 313 00:21:44,954 --> 00:21:52,874 You could tune up all three at the same time while you're still driving the car. 314 00:21:52,874 --> 00:22:01,774 So I had AI draw for me an image that I showed you of a stock car. 315 00:22:01,774 --> 00:22:08,354 with three engines and it's barreling down the track and the business owner is 316 00:22:08,354 --> 00:22:16,214 simultaneously tuning up the engine, souping up the engine and driving the car. 317 00:22:16,214 --> 00:22:20,114 And that's the promise of the system. 318 00:22:20,114 --> 00:22:26,134 And what I really like about it is that you can do both. 319 00:22:26,354 --> 00:22:31,118 Long ago, seven or more years ago, 320 00:22:31,118 --> 00:22:38,238 I came up with this analogy that really resonated with my clients. 321 00:22:38,598 --> 00:22:46,038 And I said, hey, doesn't it feel like this is a speeding freight train, right? 322 00:22:46,038 --> 00:22:49,638 And it's going uphill. 323 00:22:49,638 --> 00:22:51,018 It's going in the direction you want. 324 00:22:51,018 --> 00:22:53,058 It's going uphill, kind of like a growth curve. 325 00:22:53,058 --> 00:22:57,878 It's going up, but it's shaking really hard, right? 326 00:22:57,878 --> 00:23:01,102 And you kind of wish that you could, 327 00:23:01,102 --> 00:23:08,902 shore up the track bed, upgrade the locomotive and put guard rails on all at 328 00:23:08,902 --> 00:23:12,802 the same time, all while you're still going up into the ride. 329 00:23:12,802 --> 00:23:16,162 And people said, yeah, that really makes sense. 330 00:23:16,162 --> 00:23:23,302 But like the thing about that analogy was it was hard to translate into print 331 00:23:23,302 --> 00:23:24,302 because... 332 00:23:24,302 --> 00:23:27,142 I would have to go like this. 333 00:23:27,382 --> 00:23:30,282 I always struggled with how to write that. 334 00:23:30,282 --> 00:23:34,642 You pretty much have to make the motion and do the 335 00:23:34,890 --> 00:23:37,270 This episode is brought to you by Growth Drive. 336 00:23:37,270 --> 00:23:41,930 Growth Drive is the number one best -selling business advising platform with 337 00:23:41,930 --> 00:23:47,250 training, technology, and support you need to get the success you want. 338 00:23:47,250 --> 00:23:52,030 Find a way to engagements, expand your reach and impact, and build a thriving 339 00:23:52,030 --> 00:23:55,390 advisory business based on delivering client wins. 340 00:23:55,390 --> 00:23:59,930 Growth Drive, find out more at growthdrive .com. 341 00:24:00,561 --> 00:24:11,001 And so the idea of a custom stock car with three engines is way easier to explain in 342 00:24:11,001 --> 00:24:14,301 print and in speech and everything. 343 00:24:14,301 --> 00:24:16,657 And doesn't require me to... 344 00:24:16,657 --> 00:24:24,217 embarrassed myself by going, well, you're, you're a journalist by training. 345 00:24:24,217 --> 00:24:28,837 So not being able to write, I'm sure you could figure out how to, how to turn that 346 00:24:28,837 --> 00:24:29,857 into a word. 347 00:24:29,857 --> 00:24:32,767 Hey, don't talk about my sordid past, man. 348 00:24:32,767 --> 00:24:35,057 There's a, it's like, Hey, I'm an attorney. 349 00:24:35,057 --> 00:24:36,277 So I've got you beat. 350 00:24:36,277 --> 00:24:38,537 Doesn't like the media. 351 00:24:38,537 --> 00:24:42,057 Well, nobody likes attorneys. 352 00:24:42,137 --> 00:24:45,105 So at least some of us do do in fact like the media. 353 00:24:45,105 --> 00:24:51,265 Hey, you know what I like about your analogy of the three V8 engines is that 354 00:24:51,265 --> 00:24:54,505 that actually carries through the concept of dimensions, right? 355 00:24:54,505 --> 00:24:56,475 These are not the three phases of growth. 356 00:24:56,475 --> 00:24:56,765 Yeah. 357 00:24:56,765 --> 00:24:58,265 They're three dimensions of growth. 358 00:24:58,265 --> 00:25:02,925 And I describe them as dimensions purposefully because you can move in all 359 00:25:02,925 --> 00:25:04,405 three at the same time. 360 00:25:04,405 --> 00:25:10,445 All three are impacted by and impacting the business. 361 00:25:10,445 --> 00:25:15,091 And the three V8 analogy pushing, you know, 362 00:25:15,249 --> 00:25:21,589 Powering the transmission, pushing power to the drivetrain is spot on. 363 00:25:21,589 --> 00:25:25,109 And you can tune up one of the engines and you're going to push some more power. 364 00:25:25,229 --> 00:25:27,329 I love the analogy. 365 00:25:27,329 --> 00:25:35,549 Hey, you know, another, we have so many great conversations and this is, we'll 366 00:25:35,549 --> 00:25:39,129 have another one, at least another, you know, let's do this again. 367 00:25:39,129 --> 00:25:43,649 The concept, can you please describe what you mean by, do you mind describing what 368 00:25:43,649 --> 00:25:44,923 you mean by exit? 369 00:25:45,393 --> 00:25:52,333 Yeah, so I specialize in a certain kind of exit. 370 00:25:52,813 --> 00:25:59,973 So George, I'm doing it, you should know as a collaborator with me on a book that 371 00:25:59,973 --> 00:26:03,653 I'm doing a very unwise thing, which is pursuing multiple book projects 372 00:26:03,653 --> 00:26:05,033 simultaneously. 373 00:26:05,433 --> 00:26:11,433 So one of the other two I'm writing is grow, exit, repeat. 374 00:26:11,569 --> 00:26:16,629 which says, Hey, let's help you as the business owner, grow your current 375 00:26:16,629 --> 00:26:17,529 business. 376 00:26:17,529 --> 00:26:18,749 Yes. 377 00:26:18,749 --> 00:26:27,689 To the point that you can exit day -to -day management of it and repeat with 378 00:26:27,689 --> 00:26:32,549 another venture that's going to grow bigger, better, faster, be more fun 379 00:26:32,549 --> 00:26:36,949 because of all that you learned in business one. 380 00:26:36,949 --> 00:26:41,585 Now here's the fun little wrinkle exit day -to -day management. 381 00:26:41,585 --> 00:26:51,965 start the new venture and keep the old venture as a cash flowing asset after you 382 00:26:51,965 --> 00:26:59,725 have installed what I call a true executive team that you can truly trust to 383 00:26:59,725 --> 00:27:05,345 run and grow the business without you being involved in the day -to -day 384 00:27:05,345 --> 00:27:05,937 management. 385 00:27:05,937 --> 00:27:08,857 I absolutely love that for so many reasons. 386 00:27:08,857 --> 00:27:13,837 So one, and I think I put this in a blog post giving you credit, exit does not mean 387 00:27:13,837 --> 00:27:14,597 leave, right? 388 00:27:14,597 --> 00:27:15,107 That's right. 389 00:27:15,107 --> 00:27:17,987 You can exit the day -to -day accountabilities. 390 00:27:17,987 --> 00:27:21,577 And for a lot of us as entrepreneurs, I'll put myself in that bucket. 391 00:27:21,577 --> 00:27:24,197 That is a very sexy ring. 392 00:27:24,197 --> 00:27:25,157 Mike, well, wait a second. 393 00:27:25,157 --> 00:27:31,437 I can still be involved with this thing that is almost like a child to me, right? 394 00:27:31,437 --> 00:27:33,417 It is my progeny. 395 00:27:33,417 --> 00:27:35,497 It's intellectual progeny. 396 00:27:35,569 --> 00:27:39,979 Now, I need to, I feel like I have to say this every time. 397 00:27:39,979 --> 00:27:43,569 I love my kids and I do not view my business in the same way as I view any of 398 00:27:43,569 --> 00:27:48,249 my children, nor does any entrepreneur, but man, this is our intellectual progeny 399 00:27:48,249 --> 00:27:52,309 and we invest that level of emotion in it. 400 00:27:52,309 --> 00:27:56,489 You know, George, you've just come up with another great analogy and another great 401 00:27:56,489 --> 00:27:57,389 concept. 402 00:27:57,389 --> 00:28:01,969 And we've got a quickly patent and copyright this. 403 00:28:01,969 --> 00:28:04,177 So when, 404 00:28:04,177 --> 00:28:08,277 your child successfully leaves the nest. 405 00:28:08,597 --> 00:28:12,577 You have exited day -to -day management of your child. 406 00:28:12,577 --> 00:28:13,657 Hadn't thought of it that way. 407 00:28:13,657 --> 00:28:18,997 And you're still, for the lifetime, the parent. 408 00:28:18,997 --> 00:28:19,707 Yes, you will. 409 00:28:19,707 --> 00:28:28,247 And analogous to a business that you still own, you can still be the mentor. 410 00:28:28,247 --> 00:28:28,847 Yes. 411 00:28:28,847 --> 00:28:32,097 You can still be an idea person. 412 00:28:32,097 --> 00:28:34,193 You can still be... 413 00:28:34,193 --> 00:28:36,913 chairperson of the board. 414 00:28:36,913 --> 00:28:42,033 You know, you kind of think about family councils, right? 415 00:28:42,253 --> 00:28:46,953 The parents are the chairpeople of the board. 416 00:28:46,953 --> 00:28:48,393 Yes, they are. 417 00:28:48,393 --> 00:28:54,353 You know, it's fascinating because if we take this analogy, first of all, it 418 00:28:54,353 --> 00:28:57,033 scratches an emotional itch for a business owner. 419 00:28:57,033 --> 00:28:59,433 Second, you know, exit is used. 420 00:28:59,593 --> 00:29:03,665 But ladies and gentlemen, exit means so many different things. 421 00:29:03,665 --> 00:29:07,895 And we knee jerk, our assumption is exit means I'm gonna sell out to someone else. 422 00:29:07,895 --> 00:29:09,445 Well, not necessarily. 423 00:29:09,445 --> 00:29:15,305 John, you're saying, what we help people do is graduate from being the president to 424 00:29:15,305 --> 00:29:16,565 being the CEO. 425 00:29:16,565 --> 00:29:20,605 And what you're saying is why don't you graduate from being the CEO to being the 426 00:29:20,605 --> 00:29:24,665 chairman of this business and maybe the president CEO and then chairman of another 427 00:29:24,665 --> 00:29:25,225 and another. 428 00:29:25,225 --> 00:29:31,305 And if you think in terms of building a proto family office, of building something 429 00:29:31,305 --> 00:29:33,799 truly meaningful with diversified, 430 00:29:33,873 --> 00:29:37,433 You diversified revenue streams inside each business and diversified revenue 431 00:29:37,433 --> 00:29:40,953 streams from the various businesses, which may be related. 432 00:29:41,133 --> 00:29:43,713 This is a very, very powerful. 433 00:29:43,713 --> 00:29:49,073 And you and do I recall correctly that you use this as one of your ultimate 434 00:29:49,073 --> 00:29:49,973 qualifiers. 435 00:29:49,973 --> 00:29:54,733 If you can find people who want those results, they are. 436 00:29:54,733 --> 00:29:55,293 Yeah. 437 00:29:55,293 --> 00:30:03,429 I mean, my earlier talk about the ideal client, coachable, big dream wants help. 438 00:30:03,473 --> 00:30:10,913 And then there's like even above that, someone who does want to grow, exit and 439 00:30:10,913 --> 00:30:12,073 repeat. 440 00:30:12,073 --> 00:30:14,793 Man, that's even more fun. 441 00:30:14,793 --> 00:30:20,593 I would argue for the business owner and it's more fun for me as well. 442 00:30:20,593 --> 00:30:24,493 And when we think in terms of, so I put yourself, ladies and gentlemen, imagine 443 00:30:24,493 --> 00:30:30,705 yourself in that person's, so she has just become the chairman of her business. 444 00:30:30,705 --> 00:30:34,465 She is looking out and saying, I'm going to start another business or acquire 445 00:30:34,465 --> 00:30:38,744 another business and grow it or et cetera, et cetera, or split part of my previous 446 00:30:38,744 --> 00:30:43,205 business off that doesn't make sense and grow that as a separate but related 447 00:30:43,205 --> 00:30:43,905 entity. 448 00:30:43,905 --> 00:30:45,965 Lots of different ways to do this. 449 00:30:45,965 --> 00:30:50,205 The dog food manufacturer that buys the packaging company, you know. 450 00:30:50,205 --> 00:30:56,817 But do you think that she cares about predictable profits and cashflow? 451 00:30:56,817 --> 00:31:00,736 Do you think she is the chairman running a new venture cares about predictable, 452 00:31:00,736 --> 00:31:01,877 sustainable growth? 453 00:31:01,877 --> 00:31:07,877 You bet she does probably more than the person who has sold it to a third party is 454 00:31:07,877 --> 00:31:09,797 like, not my problem anymore. 455 00:31:09,817 --> 00:31:13,397 You know, this, the level of caring that you're going to get the level of focus and 456 00:31:13,397 --> 00:31:19,517 dedication to, to maintaining a best in class business so that she can, I'm 457 00:31:19,517 --> 00:31:20,877 pointing out the word. 458 00:31:20,877 --> 00:31:23,857 So there's an interpretive dance that comes with this podcast, ladies and 459 00:31:23,857 --> 00:31:24,197 gentlemen. 460 00:31:24,197 --> 00:31:26,417 So that she can. 461 00:31:26,417 --> 00:31:34,817 she is free, right, to run, build, and excel in the new business, that's the name 462 00:31:34,817 --> 00:31:35,717 of the game. 463 00:31:35,717 --> 00:31:36,417 Yeah. 464 00:31:36,417 --> 00:31:38,917 And I've seen that happen. 465 00:31:38,917 --> 00:31:48,677 I've seen best in class business practices be implemented in preparation for the exit 466 00:31:48,677 --> 00:31:53,697 from day -to -day management or the exit from the accountability chart. 467 00:31:53,697 --> 00:31:54,545 And then, 468 00:31:54,545 --> 00:32:04,065 You know, business one is stronger as a result because it's no longer, you know, 469 00:32:04,065 --> 00:32:10,345 owner, operator kind of really loosey goosey make this stuff up as we go along. 470 00:32:10,345 --> 00:32:17,605 But it is a well run, well oiled machine. 471 00:32:17,605 --> 00:32:19,905 And a machine that is immortal. 472 00:32:19,905 --> 00:32:24,753 A machine that goes on to greater glory. 473 00:32:24,753 --> 00:32:29,433 pardon the religious analogy, but a business that is immortal and goes on to 474 00:32:29,433 --> 00:32:34,373 greater glory without the founder or the current owner at the helm. 475 00:32:34,373 --> 00:32:38,173 Once we get that light bulb to go off, I mean, what's the impact when you get them 476 00:32:38,173 --> 00:32:41,953 to realize that this is within the realm of the possible, in fact, a well 477 00:32:41,953 --> 00:32:46,093 understood and actionable goal? 478 00:32:46,413 --> 00:32:50,897 Yeah, I mean, one thing that's possible, I'll just tell the story. 479 00:32:50,897 --> 00:32:55,257 Summit Contracting, a small town in Pierre, South Dakota. 480 00:32:55,597 --> 00:33:03,317 The founder, Tyler Samuelson, hired me to get him off the accountability chart at 481 00:33:03,317 --> 00:33:04,297 Summit Contracting. 482 00:33:04,297 --> 00:33:06,457 He said so explicitly. 483 00:33:06,457 --> 00:33:15,977 And then what he did is he created a holding company of businesses that are 484 00:33:15,977 --> 00:33:19,255 either Summit's best customer, 485 00:33:19,441 --> 00:33:22,241 or their best supplier. 486 00:33:22,281 --> 00:33:32,081 So for instance, Summit Contracting is the leading builder of commercial agriculture 487 00:33:32,081 --> 00:33:35,221 facilities on the farm for farmers. 488 00:33:35,221 --> 00:33:42,201 Grain bins, that sort of thing, grain systems in the Great Plains. 489 00:33:42,201 --> 00:33:48,801 And they buy a lot of trailers to haul that equipment around to the various job 490 00:33:48,801 --> 00:33:49,637 sites. 491 00:33:49,649 --> 00:33:55,089 So Tyler said, well, why am I buying these trailers from somebody else? 492 00:33:55,089 --> 00:34:01,089 Why don't I start my own trailer dealership, you know, source my own 493 00:34:01,089 --> 00:34:04,509 trailers and then sell trailers to other people as well. 494 00:34:04,509 --> 00:34:13,049 And then another thing was, you know, his customers want monument signs on their 495 00:34:13,049 --> 00:34:14,109 operations and everything. 496 00:34:14,109 --> 00:34:18,139 So he said, you know, why are they buying monument signs from somebody else? 497 00:34:18,139 --> 00:34:18,833 Why don't I? 498 00:34:18,833 --> 00:34:24,733 buy a sign company and fix that up and sell monument signs. 499 00:34:24,733 --> 00:34:30,393 And at the same time, I'll be a great sign provider for main street businesses in 500 00:34:30,393 --> 00:34:35,453 small towns, South Dakota, small town, Nebraska that I really care about. 501 00:34:35,453 --> 00:34:41,913 And so Tyler is really doing a fantastic thing where he is pursuing his 502 00:34:41,913 --> 00:34:46,449 entrepreneurial energy in new ventures. 503 00:34:46,449 --> 00:34:53,629 He's genuinely benefiting the original company Summit Contracting, and he's also 504 00:34:53,629 --> 00:35:02,609 pursuing a passion project of promoting strong economies and strong quality of 505 00:35:02,609 --> 00:35:05,199 life in small town South Dakota. 506 00:35:05,199 --> 00:35:11,921 I mean, his hometown has like 1200 people or something like that and is thriving. 507 00:35:11,921 --> 00:35:20,841 in part because Tyler spearheaded the start of a daycare in Peer. 508 00:35:20,841 --> 00:35:24,081 He's also building workforce housing. 509 00:35:24,081 --> 00:35:30,801 And so, you know, what's possible, what's exciting about this is I'll reference Dan 510 00:35:30,801 --> 00:35:36,581 Sullivan from Strategic Coach and his four freedoms of an entrepreneur, freedom of 511 00:35:36,581 --> 00:35:40,913 time, money, relationship, and... 512 00:35:40,913 --> 00:35:42,293 purpose. 513 00:35:42,653 --> 00:35:46,393 And I'll dive deep on the freedom of purpose. 514 00:35:46,393 --> 00:35:50,973 The cool thing about being an entrepreneur, and Tyler has lived this 515 00:35:50,973 --> 00:35:58,633 out, is you don't have to have charitable Tyler and business Tyler. 516 00:35:59,053 --> 00:36:02,713 You can do both simultaneously, right? 517 00:36:02,713 --> 00:36:09,333 Everything he's doing is promoting the cause that he cares about, which is the 518 00:36:09,333 --> 00:36:10,225 success of 519 00:36:10,225 --> 00:36:13,065 small South Dakota communities. 520 00:36:13,065 --> 00:36:18,025 He doesn't have to do some separate charitable life, right? 521 00:36:18,025 --> 00:36:24,845 Growing his businesses pursues that purpose, which is pretty darn cool. 522 00:36:24,845 --> 00:36:26,905 That is incredibly cool. 523 00:36:26,905 --> 00:36:29,725 I love that story. 524 00:36:30,045 --> 00:36:33,745 And I'd love to meet that man. 525 00:36:33,745 --> 00:36:36,485 You know, it's because he's fulfilling. 526 00:36:37,165 --> 00:36:38,633 We have a... 527 00:36:39,985 --> 00:36:41,665 I'm not gonna go down that rabbit hole. 528 00:36:41,665 --> 00:36:46,265 He's fulfilling, but he's doing right and he's doing good and he's making a lot of 529 00:36:46,265 --> 00:36:50,025 money in the process and that is also equitable. 530 00:36:50,385 --> 00:36:52,145 That's the name of the game. 531 00:36:52,225 --> 00:36:53,985 Do you have any insights? 532 00:36:53,985 --> 00:37:01,325 Are you able to share insights on how his success, I'm gonna make an assumption that 533 00:37:01,325 --> 00:37:05,105 that permeates the culture of the businesses he runs. 534 00:37:06,125 --> 00:37:09,385 Well, I mean, absolutely. 535 00:37:09,425 --> 00:37:16,705 Every client that I work with has a strong behavior -based culture. 536 00:37:16,705 --> 00:37:26,145 We clarify the core values of each company that I work with where core values are not 537 00:37:26,145 --> 00:37:30,045 something generated by HR or generated by a committee, right? 538 00:37:30,045 --> 00:37:34,885 But they come from the business owner's core, right? 539 00:37:34,885 --> 00:37:39,465 They're the way people behave, 540 00:37:39,473 --> 00:37:42,293 on a day -to -day basis, right? 541 00:37:42,293 --> 00:37:47,513 That really resonates with and energizes the owner. 542 00:37:47,513 --> 00:37:54,233 It's the people, the owners want to surround themselves with. 543 00:37:54,813 --> 00:38:04,453 And so yeah, they absolutely have a strong culture where everyone is pulling in the 544 00:38:04,453 --> 00:38:05,489 same direction. 545 00:38:05,489 --> 00:38:10,989 Yeah, and benefiting at a micro and macro level, at a personal and interpersonal 546 00:38:10,989 --> 00:38:11,829 level. 547 00:38:11,829 --> 00:38:17,229 You know, it's interesting, I'm gonna make a, I just make a, if those of you out 548 00:38:17,229 --> 00:38:24,009 there want to understand what a strong culture might look like, now, vision is 549 00:38:24,009 --> 00:38:29,909 critical, core values are what I call guiding principles, need to be principled, 550 00:38:29,909 --> 00:38:31,217 look up the word. 551 00:38:31,217 --> 00:38:35,117 And don't show up with words like integrity or hard work because those are 552 00:38:35,117 --> 00:38:35,897 table landing. 553 00:38:35,897 --> 00:38:36,377 Okay. 554 00:38:36,377 --> 00:38:41,417 Now, if you want to understand what a strong culture looks like, get a copy of a 555 00:38:41,417 --> 00:38:44,667 clarity level one discovery report. 556 00:38:44,667 --> 00:38:45,337 It's very easy. 557 00:38:45,337 --> 00:38:48,317 You can go onto our website and generate one yourself. 558 00:38:48,317 --> 00:38:52,737 Email me, I'll send it to you and read through the bottom of that report. 559 00:38:52,737 --> 00:38:57,557 And the bottom of that report says, imagine if your business could say yes. 560 00:38:57,557 --> 00:39:00,305 Imagine how it would feel if your business could say yes. 561 00:39:00,305 --> 00:39:05,925 to the following, and it lists out these eight eight cylinder engines, the 24 562 00:39:05,925 --> 00:39:10,945 growth driving objectives of a best in class business. 563 00:39:10,945 --> 00:39:15,265 And if you read those and answer yes to them and think about what it would take 564 00:39:15,265 --> 00:39:19,705 the culture, the behaviors it would take to create that and what you would need to 565 00:39:19,705 --> 00:39:27,705 the vessel in which this can all operate. 566 00:39:28,849 --> 00:39:32,629 you'll understand, you'll get started understanding, boil the voodoo out of the 567 00:39:32,629 --> 00:39:33,459 concept of culture. 568 00:39:33,459 --> 00:39:38,989 Culture is created and nurtured and it is created to align up with the principles 569 00:39:38,989 --> 00:39:43,659 and it is nurtured to ensure that over time it adheres to the principles. 570 00:39:43,659 --> 00:39:48,409 And guys, if you don't understand what a principle is, thou shalt not kill is a 571 00:39:48,409 --> 00:39:50,809 principle, right? 572 00:39:51,629 --> 00:39:53,909 George, those are principles. 573 00:39:53,909 --> 00:39:58,705 So when you were doing your interpretive dance and you were drawing the vessel, 574 00:39:58,705 --> 00:40:03,245 that contains the people at your company. 575 00:40:03,245 --> 00:40:12,405 I was thinking about how business owners in early days of putting in place core 576 00:40:12,405 --> 00:40:26,545 values will often almost create a sidecar over here for what Greg Cleary and Steve 577 00:40:26,545 --> 00:40:27,281 Prada. 578 00:40:27,281 --> 00:40:31,781 in their book, Pinnacle, call the cranks, right? 579 00:40:31,781 --> 00:40:36,721 That's somebody who is productive in their role. 580 00:40:36,721 --> 00:40:38,741 It's usually a salesperson, right? 581 00:40:38,741 --> 00:40:46,141 Who, you know, continually blows past quota, but is doing it in a way contrary 582 00:40:46,141 --> 00:40:47,241 to the values, right? 583 00:40:47,241 --> 00:40:54,865 Is behaving in a way that is alienating at least to the coworkers. 584 00:40:54,865 --> 00:40:59,585 and could also be alienated into customers, vendors, suppliers, other 585 00:40:59,585 --> 00:41:02,685 stakeholders in the community. 586 00:41:02,685 --> 00:41:12,105 And we often create these like crazy contraptions that kind of make room for 587 00:41:12,105 --> 00:41:16,445 somebody that we think we can't afford to lose. 588 00:41:17,005 --> 00:41:21,105 And that makes our vehicle less aerodynamic, right? 589 00:41:21,105 --> 00:41:29,525 as we're racing down the highway, there's all these projections and protuberances to 590 00:41:29,525 --> 00:41:32,585 make room for the cranks. 591 00:41:32,585 --> 00:41:44,525 And what we really need is a sleek, well -designed stock car with three V8 engines. 592 00:41:44,525 --> 00:41:45,845 With three V8 engines. 593 00:41:45,845 --> 00:41:49,365 Well, and two, it's hard to get rid of a crank. 594 00:41:49,365 --> 00:41:50,833 And there are cranks, 595 00:41:50,833 --> 00:41:56,213 And there are also, there's the corollary, which is, well, George came on board as 596 00:41:56,213 --> 00:41:58,922 our bookkeeper, then we made George our controller. 597 00:41:58,922 --> 00:42:01,263 He kept working hard, he's doing his job well. 598 00:42:01,263 --> 00:42:03,393 He's been here for 17 years. 599 00:42:03,393 --> 00:42:07,133 He kind of needed a raise and a promotion, so we made him the CFO. 600 00:42:07,133 --> 00:42:12,413 And I pick on the CFO because that is very, see, in finance and sales, this is 601 00:42:12,413 --> 00:42:14,173 where I see this behavior the most, right? 602 00:42:14,173 --> 00:42:16,733 You have a salesperson, you hired a salesperson, then you make them a sales 603 00:42:16,733 --> 00:42:19,533 manager, then you make them the chief revenue officer, and what they really are 604 00:42:19,533 --> 00:42:20,945 is a gifted salesperson. 605 00:42:20,945 --> 00:42:24,725 and maybe George has no business, doesn't even really understand what the role of 606 00:42:24,725 --> 00:42:25,755 CFO is. 607 00:42:25,755 --> 00:42:27,645 And now you're stuck with them, right? 608 00:42:27,645 --> 00:42:32,925 And they become, it's very different than a crank, but it's almost the same. 609 00:42:32,925 --> 00:42:35,105 I'm gonna tolerate these behaviors. 610 00:42:35,105 --> 00:42:40,285 I'm gonna tolerate these things because I really am an interpretive dance day. 611 00:42:40,285 --> 00:42:46,465 I'm gonna tolerate these two people because this getting rid of George rocks 612 00:42:46,465 --> 00:42:50,705 the boat and I feel bad and getting rid of Jane. 613 00:42:50,705 --> 00:42:57,225 the misbehaving salesperson who crushes her quota is also like, who else is gonna 614 00:42:57,225 --> 00:42:58,785 sell this stuff? 615 00:42:59,505 --> 00:43:04,125 And let me tell you, the answer is in sales process, accountability, guiding 616 00:43:04,125 --> 00:43:05,085 principles. 617 00:43:05,085 --> 00:43:08,505 Anyway, love that, thank you. 618 00:43:08,885 --> 00:43:10,325 What have we not hit on? 619 00:43:10,325 --> 00:43:14,285 It's hard to believe we've been chatting for about a half hour, a little more. 620 00:43:14,285 --> 00:43:15,089 Yeah, yeah. 621 00:43:15,089 --> 00:43:21,189 Well, we wouldn't want to go past your regularly scheduled time. 622 00:43:21,389 --> 00:43:25,629 What final questions do you have for me? 623 00:43:25,629 --> 00:43:31,349 You know, I'll ask one final question, and I guess it's kind of a hot seat question. 624 00:43:31,349 --> 00:43:33,865 What is one... 625 00:43:35,313 --> 00:43:42,833 piece of advice or admonition, warning that you would give to your fellow 626 00:43:42,833 --> 00:43:47,113 business advisors and or to CEOs. 627 00:43:47,113 --> 00:43:50,633 What is the one thing you think they should know? 628 00:43:51,013 --> 00:43:53,385 About... 629 00:43:56,209 --> 00:43:59,729 About creating a best in class business, I'll make it easy. 630 00:43:59,729 --> 00:44:02,409 Things to do or not do. 631 00:44:04,689 --> 00:44:11,499 To do, hire and develop a true executive team. 632 00:44:11,499 --> 00:44:21,689 In order to be able to grow, exit, repeat, you need to have in each function in your 633 00:44:21,689 --> 00:44:25,549 business, sales, operations, finance. 634 00:44:25,969 --> 00:44:29,449 what we call a mini CEO. 635 00:44:29,669 --> 00:44:34,609 Actually, it was Greg Cleary and Steve Prada in the book Pinnacle that first 636 00:44:34,609 --> 00:44:37,109 described this mini CEO. 637 00:44:37,109 --> 00:44:40,709 That is a chief executive officer of their function. 638 00:44:40,709 --> 00:44:44,549 Imagine the marketing and sales function was its own company. 639 00:44:44,549 --> 00:44:47,049 The operations function was its own company. 640 00:44:47,049 --> 00:44:49,649 The finance function was its own company. 641 00:44:49,649 --> 00:44:54,865 You need at the head of that function, a chief executive officer who can... 642 00:44:54,865 --> 00:45:06,685 completely owns that function, is not just a glorified doer, but is a true leader who 643 00:45:06,685 --> 00:45:14,785 achieves results by developing talent underneath them, rather than by doing the 644 00:45:14,785 --> 00:45:15,945 work themselves. 645 00:45:15,945 --> 00:45:23,125 And if you don't have that, it's gonna be harder, if not impossible, to exit day -to 646 00:45:23,125 --> 00:45:24,561 -day management of 647 00:45:24,561 --> 00:45:25,321 the company. 648 00:45:25,321 --> 00:45:28,701 That is a wonderful, wonderful answer. 649 00:45:28,701 --> 00:45:30,421 Thank you. 650 00:45:30,421 --> 00:45:35,781 I let you know, ladies and gentlemen, you, if you haven't checked it out, the first 651 00:45:35,781 --> 00:45:39,141 growth driving objective of the first dimension of the three dimensions of 652 00:45:39,141 --> 00:45:44,841 business growth is senior leadership team, senior leadership team, leadership, not 653 00:45:44,841 --> 00:45:46,841 senior management, right leadership. 654 00:45:46,841 --> 00:45:51,001 And I'm going to just, I'll close out with something you don't know, but I'll, I'll, 655 00:45:51,001 --> 00:45:54,033 I'll tease it out, you know, in the, in the next and. 656 00:45:54,033 --> 00:46:02,333 final module that we are releasing in the clarity strategic capacity analysis is a 657 00:46:02,333 --> 00:46:03,333 CEO insights. 658 00:46:03,333 --> 00:46:13,513 And in CEO insights, there is taking the 25, 24 OKRs plus one, which is time to 659 00:46:13,513 --> 00:46:18,913 market and we won't get into that, but taking these growth driving objectives and 660 00:46:18,913 --> 00:46:23,921 assigning primary accountability amongst the chief executive, 661 00:46:23,921 --> 00:46:29,821 the chief operating, the chief financial and the chief revenue and saying, okay, 662 00:46:29,821 --> 00:46:36,641 you have primary accountability for these and you have collaborative accountability 663 00:46:36,641 --> 00:46:38,831 on some of these others. 664 00:46:38,831 --> 00:46:44,581 They all have collaborative accountability to the whole, so that is actually coming 665 00:46:44,581 --> 00:46:46,761 soon to a software near you. 666 00:46:46,761 --> 00:46:48,711 I love that answer. 667 00:46:48,711 --> 00:46:52,831 The effective senior leadership team, it is the game changer. 668 00:46:53,073 --> 00:46:54,353 It really is. 669 00:46:54,533 --> 00:46:55,253 Yeah. 670 00:46:55,253 --> 00:46:57,973 So, I tell you man, what a fun conversation. 671 00:46:57,973 --> 00:46:58,273 Thank you. 672 00:46:58,273 --> 00:46:59,203 It has been fun, George. 673 00:46:59,203 --> 00:46:59,993 Thank you. 674 00:46:59,993 --> 00:47:04,473 And we'll definitely have to have you back soon. 675 00:47:04,473 --> 00:47:05,363 Looking forward to it. 676 00:47:05,363 --> 00:47:05,623 Thanks. 677 00:47:05,623 --> 00:47:08,773 I'm going to kill the recording and say to everyone, ciao for now. 678 00:47:08,773 --> 00:47:10,217 Thanks for tuning in. 679 00:47:20,561 --> 00:47:23,581 Hi this is George, thanks for listening. 680 00:47:23,621 --> 00:47:28,441 If you like what you heard, you can subscribe, like, and please take two 681 00:47:28,441 --> 00:47:29,641 seconds to leave a review. 682 00:47:29,641 --> 00:47:34,601 It tells the world that you like what we're doing and it helps us understand how 683 00:47:34,601 --> 00:47:36,121 we can improve the show. 684 00:47:36,121 --> 00:47:38,441 Thank you and see you next time.