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Business Lesson 1

The Knowledge Gap

My EXIT strategy is to leave behind my knowledge and skills to support Young Business Owners. People like me 30 years ago.

There is a difference between businesses that struggle and businesses that thrive. The main difference is the mindset of the business owner/leader.

Are successful business owners born or do they learn this skill?

We are hard-wired for success. The problem is we pick up false beliefs during our early years and allow ourselves to be distracted.

The solution is to replace false beliefs with new positive beliefs by learning the skills and knowledge of successful people.

The average CEO reads about 50 books a year. Why? Because they know the key to success is constant learning.

The lessons below form a simple framework to help you become an effective leader.

Lesson 1 The knowledge gap – Understand the knowledge gap between a struggling business and a successful business. Learn what it is.

Lesson 2 Setting Goals – There many types of goals set including persona, family, business, financial and many more. Setting goals sets your direction.

Lesson 3 Personnel purpose – Answers the question what’s in it for me?

Lesson 4 Business purpose – Delivers what’s in it for you.

Lesson 5 A useful mindset to deliver your purpose – Learn how successful entrepreneurs think.

Lesson 6 Using your time effectively – Where you need to spend your time

Lesson 7 Prioritising – You get what you FOCUS on. Focus on the important tasks that will deliver success quickly.

Get this right, and you will become a successful leader who can build a business you will be proud to show off. You will have set up your business for success.

Let’s get started with:

Lesson 1 – The knowledge gap an introduction to leadership

The business journey has four parts.

  1. Startup
  2. Struggle
  3. Business class
  4. Freedom

It’s easy to start a business, but then you quickly fall into the Struggle section. There is a mountain of work to be done. Cash comes in, cash goes out, and there is not much surplus. It feels overwhelming.

The next section is business class where the management team runs your profitable business. The final section is freedom where you live off your investments.

The major difference between struggle and business class are:

Struggling business.

It’s all about me. My business, my team, my customers, my profit.

No direction, no teamwork

No or poor processes and systems

Business Class Business

It’s all about the customer. How can we give the customer a better experience working with us?

The business has a vision, and a leader people want to follow.

Processes and systems with a trained team that operate them.

The knowledge gap falls between struggle and business class. The gap is like looking down the grand canyon. It can be quite large.

Download the workbook and learn the rest of the lesson.

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Introduction to leadership

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