We’ve all been there. We get so caught up working in our business that we don’t spend enough time working on our business. Chuck Blakeman is a successful entrepreneur, best-selling business author and world-renowned business advisor who built ten businesses in seven industries on four continents, and now uses his experience to advise others. Chuck drops by to talk about how we can not just add profits to our business, but hit the sweet spot of adding profit and free time. There’s so much information in this episode that we decided to super-size it!
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[1:25] The industrial age taught us to trade time for money. Chuck thinks that’s an antiquated model!
[3:52] What is the difference between the tyranny of the urgent and the priority of the important?
[8:38] There’s a speaking approach and an entrepreneurial approach.
[10:52] What are the four building blocks of a business?
[12:28] Building Block 1- Why?
[14:38] Building Block 2- You’re going to need a plan.
[15:27] Building Block 3- Find someone who can do it better than you.
[16:32] Building Block 4- Get some outside eyes on your business.
[17:00] Is paying the bills a good enough “why”?
[19:24] The seven stages of business ownership
[20:46] Stage 1- Startup
[21:09] Stage 2- Survival
[22:07] Stage 3- More surviving…but hopefully with a little more profit
[23:12] Stage 4- You’ve created a job for yourself
[23:41] Stage 5- The great mindset shift, adding time to your business
[25:59] Stage 6- You’re no longer “making the chairs”.
[26:05] Stage 7- You’re the mythical owner who shows up from time to time while your business runs on autopilot.
[27:22] What can we do to accelerate the maturation of a business?
[30:03] Chuck tells a story about heading off for a vacation with the idea that he would let his staff run his business while he was gone. Only…he didn’t have any staff at the time!
[34:02] What business model did Chuck start with in his early days as an entrepreneur?
[39:24] Ask a “thousand little how’s”.
[41:16] What did writing a book do for Chuck?
[43:57] Are employees a bad idea or a good idea?
[47:29] Managing is not the same as leading.
[48:16] Planning can actually be destructive to business.
[51:31] Let’s field some questions from the listeners!
[54:36] Is it better to work out of your home or to have a public space?
[57:41] Chuck talks about his 3-5 Groups