“In order to scale effectively, we have to be completely removed from the day-to-day operations in the business.” -Patrick Rogers
A scalable business is a company that is profitable but also has the potential to become even more profitable, without the owner being directly involved in its day-to-day processes.
Creating a business model like this can be tough. But there are ways to can create a scalable business that can be successfully exited—and it doesn’t have to come at the expense of our integrity.
Exit Planning Advisor and serial entrepreneur Patrick Rogers joins me this week for a powerful conversation on business building. Patrick has mentored CEO’s and business leaders to achieve their goals and transform their organizations into successful entities positioned for a profitable exit.
In this episode, Patrick and I discuss the signs that a company has high growth potential, how to balance our life triangle (relationships, career, and self), the drivers that affect the value of a company, three processes that affect the scalability of a business, and critical attributes that every business owner should possess. Our goal as an entrepreneur should be to make our business as successful as possible— and that’s exactly the core of our discussion. Join in!
Connect The Modern Man:
Highlights:
- 03:14 Signs of a Growth Potential
- 07:53 Stop Running Away
- 10:14 What is a Scalable Business?
- 15:38 Why Entrepreneurs Sell Their Business
- 21:57 Risks that Prevent the Sale of a Business
- 25:15 How to Make Your Company as Successful as Possible
- 27:25 Recap
Resources:
Book
- The Automatic Customer: Creating a Subscription Business in Any Industry by John Warrillow
- Breaking the Habit of Being Yourself: How to Lose Your Mind and How to Create a New One by Dr. Jo Dispenza
Tweets:
What makes a company scalable? Tune in as @TheModernMan8 and Exit Planning Advisor and serial entrepreneur Patrick Rogers reveal the secrets to maximizing your business’s growth potential. #TheModernMan #podcast #menpotential #entrepreneurship #acquisitions #consciousleadership #acquisition #transferablevalue #companyculture #business #relationships #selfimprovement #automation
Quotes:
04:09 “Some of us are addicted to chaos. And when we have that in our lives, we’re not getting the forward momentum that we need in a business. So a lot of times it’s just the CEO and just what’s going on.” -Patrick Rogers
06:42 “If you don’t have your why down, when the day comes, you’re going to mess up all the other stuff.” -Patrick Rogers
07:33 “Sometimes when it comes to the workaholics, they spend time at work because home is not a comfortable spot.” -Ted Phaeton
07:58 “We are running away from something because we think that we cannot control it.” -Patrick Rogers
11:21 “Most CEOs think that they’re irreplaceable, that nobody can do it better than them… Somebody can do it way better than you. Let go of it.” -Patrick Rogers
15:15 “The differentiator is, some business owners build something and they can never see themselves parting ways from it. Other entrepreneurs start with the exit in mind.” -Ted Phaeton
17:28 “The most successful business owners are the ones that take in this concept that it’s not about ‘me’ at all.” -Patrick Rogers
19:19 “Everything starts from the top. It starts at their energy, and then it goes down from there.” -Patrick Rogers
21:01 “The most powerful and successful CEOs are the ones that know how to display empathy. It’s raising not only your own conscious level but raising the whole company’s consciousness level through these systematic processes of getting people to respond.” -Patrick Rogers
23:59 “There needs to be growth potential place. And if there’s not create some.” -Patrick Rogers
26:14 “In order to scale effectively, we have to be completely removed from the day-to-day operations in the business.” -Patrick Rogers
27:33 “If you’re a CEO, you might not have that self-awareness to know wholeheartedly if you are grounded and thinking properly. So sometimes it’s good to have a board of advisors who can identify that in you.” -Ted Phaeton
Meet Patrick:
Patrick Rogers is a serial entrepreneur and investor turned mentor. He has personally coached hundreds of CEOs & organizations and their employees as a sought-after industry expert business mentor and certified exit planning advisor. Through his ‘Exitable Business” Methodology, he helps CEOs transform their companies into highly profitable entities that are strategically positioned for a successful and profitable exit.
