PROFIT RADIO "A Network of Entrepreneurs for Entrepreneurs"
One theme consistent in Season 3 is the station's becoming your CGO - Chief Growth Officer for Hire, the underlying role of the Network. All of my shows: Growth Community, Building in Front of You, Your MLM Empire, Economics for Owners, the Self Managing Organization, Creating a Consulting Business, and today's Show Series on Living the Life centers on how to use the IBGR Network for business success.
Our relationship with the listening audience of entrepreneurs and owners:
That is the meaning behind Looking at IBGR as your CGO - your virtual Chief Growth Officer so you can Live the Life.
Last week we tackled "SELF MANAGEMENT IS THE END GAME (OR AT LEAST MINE)" This week we will cover the importance of not just a Board of Directors, but the right Board.
LISTEN > ENGAGE > APPLY
Show Objectives - The WHY
IBGR has built the infrastructure, the fiber optic, and laid the cable all the way to the utility pole outside of the business's building. We need boots on the ground to link the last 50 feet.
Given what is happening globally due to government policy on the pandemic, the economic life source of the planet is being starved to death. This is our attempt to tackle what was a difficult issue of starting, growing, and exiting a business, and now almost impossible to achieve.
JOIN US in the battle, you will do nothing more significant than helping the 375 million of us employing 2 billion people.
Key Issues - Owner Perspective:
What You Need to Know - The WHAT
If you are in the later stages of growth - Stages V and VI, you reached this achievement by realizing you don’t have all the answers nor is it expected. However you don't have to wait until these later growth stages. Starting working on it from the beginning and you will know when it's time - when your child begins to make demands you cannot answer.
Guidance from outside the company is essential from people that have done it and can be objective about the choices. The last thing you need is more group think, more people telling you what you want to hear. The question is not if it is who and how to create a Board of Directors?
The next question is how relevant is your organization and offer to customers? Your business has passed the stage of quick sales for survival, and the emphasis is on long-term customers. That requires the customer finding the product or service purchased and the relationship with your organization making a significant difference. As you consider what shape the reinvention project takes ensure that relevance to the customer is the core objective and final test.
Since the reinvention question will center on the what - your offer, your mix of products & services, and on the how - the nature of the relationship, it cannot be divorced from your core competence. What combination of hard and soft assets provides you with an advantage over the competition? You cannot stray far from this reality and succeed.
The fourth question is about leverage. I usually focus on the use of credit to gain a multiplication effect from borrowed money producing revenue. But this leaves a bigger asset unleveraged in the form of partnerships and alliances. Whether this are a few key relationships with larger companies or a network of similar sized companies, it is a significant source of increasing profitability while decreasing costs. Who is in your partnership network?
Finally, what permeates throughout the first four questions is mindset. I don’t know how to address this because it is an element of how you as the owner. What I know is uniqueness is the answer whether you are reinventing within a stable industry or creating something new- what is special sauce?
What You Need to DO - The HOW
I will share with you our thinking on these five questions. Some have an answer and others are works in progress.
We are your single, one stop source for business success, period, end of story.
Make sure you leave some thoughts in the comment section below. I am interested in continuing the conversation.
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