Why small companies need a great business plan with Brian Tracy.
Monday, October, 17th, 2016 at 6:00 am by Mike J. Agugliaro
In this week’s episode of the CEO Warrior Podcast, Mike Agugliaro interviews Brian Tracy. Brian is the chairman and CEO of Brian Tracy International, a company specializing in training executives and individuals for success. Brain is an author, keynote speaker, teacher, and so much more.
Main Questions Asked:
- What do you see as the problem in small companies today?
- Do great leaders create great culture?
- How should we develop better leaders?
- What would you say to someone who thinks they don’t have enough time?
- What do you think business owners should pay attention to over the next few years?
- Can you share some wisdom around hiring and recruiting?
Key Lessons Learned:
- Online networking is not working, small business needs to get out there and sell their product.
- Most people think they can sell a customized product the same way they can sell a transactional product.
- You need great leadership, someone with a clear vision and the responsibility for getting things done.
- You need a great product, 90% of success is due to having a great product. Increase the quality of your product first.
- You need a great business plan.
- The majority of small businesses don’t have any of those.
- Ignorance of the laws of business results in bankruptcy.
- Keep current with what’s happening in the world of business and your industry especially.
- Leaders are developed, often self developed.
- Most large businesses spend a large amount of money training their leaders.
- Successful leaders learn constantly.
- If you emulate the great leaders, you can get similar results.
- The first job of a leader is to set business goals, you must have clarity. Clear goals and objectives, clear measures and standards, clear deadlines and schedules, and finally reward high performers well.
- Solopreneurs have to sell all day, every day.
- The value proposition is the heart of your business. It’s not your product, it’s the effect and emotion and how it can change the life of your customer.
- Marketing is not sales.
- Your value proposition should be explained in less than 12 words.
- Your marketing should connect with your customer’s emotions.
- Marketing leads to selling, selling is a process. Focus on helping your potential customer and they will want to buy your product.
- You have enough time, you just have to make it a priority.
- Say no to everything that doesn’t make a big difference.
- The average person spends too much time on Facebook or email.
- Plan your day the night before, set your highest priority and then work on that in the morning, turn everything off until 11am.
- If the motivation is high enough, you will find the time.
- It takes about 17 minutes to get back on task if you allow yourself to be distracted.
- Goals that aren’t written down are wishes.
- Rich people have goals that they work on nearly every day.
- Work with clarity, write your blueprint and work from it.
- We can only hire people who are as good as we are.
- The best way to find better people is to improve the quality of the leader.
- You can’t recognize someone that is above your own level.
- Successful people have rituals. Successful people tend to get up early and exercise, then get ready for the day.
- How you dress is how you think about yourself. Don’t look like a bum.
- Start on your most important task for 90 minutes, take a break, then do another 90 minutes.
- Check your email for no more than 21 minutes each day.
- It takes an average of 22 years to become a millionaire, from the moment you decide to become one. If you want to earn more money faster, sell more stuff.
- Leaders are developed, how about yours.
- Create a performance culture.
- Read everyday.
- Plan your day in advance and work on your highest priority.
- Make more money by selling more stuff.
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Links to Resources Mentioned
P.S. – Are you SERIOUS about no longer treading water and MOVE your business forward WARRIOR STYLE? Find out more about Mike’s Warrior FAST TRACK Academy!