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All businesses have a few key things that keep them running. In this episode, we will introduce you to the “business engine” and show you how to use this concept to run your business.
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Key Insights
- Become efficient AND effective by learning how to optimize
- Set up your own business engine to run smoothly and effectively
- Know what to look for in the beginning stages of your business, in order to maximize your impact
Timestamps
- [00:30] – Welcome
- [01:33] – Efficient vs Effective - The pitfalls of optimizing too soon
- [06:15] – Simplicity is key to starting your business engine. Some tasks may seem very inefficient, but, they are very effective. AS time goes on, you will learn the ways to optimize properly
- [07:29] – Marketing
- [08:35] – Sales - Sales may not always include a sale… meaning, sometimes, this step is simply convincing your customer to make a decision
- [11:05] – When people say “No” that is your opportunity to change your marketing pitch, if needed
- [12:27] – Operations (Creating, Delivering)
- [16:42] – Finance
- [27:24] – The ultimate goal is to get you out of your own business
- [28:50] – Your Homework
- [32:28] – Tom’s Bookshelf
Resources Mentioned
- Show 5 - Testing Your Business Idea & Making Sales
- Show 29 - Money & Your Business
- Show Working ON Your Business, Not IN Your Business
- Leave Us a Review on iTunes - Let us know how you like the podcast. Ratings help more people who need the show to find it.
- Lifestyle Builders Starter Pack - Grab the templates and worksheets to help you get started as a Lifestyle Builder.
- Lifestyle Builders Incubator - Get the training, mentorship, and community support to launch your product or service.
- Apply For Coaching - Schedule a free discovery call with Tom to see if coaching can help take your business to the next level.
Actions to Take
- Track your time for a week, paying special attention to where you’re spending the majority
- Let us know which component you feel that you need the most help with
