Process Frameworks (Overview of Process) Part 1

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Today we’re exploring Michael’s Process Power Principles. These are high-level simple but powerful concepts you can apply to your business.  Use them correctly and you can create your own “recipes”  and – just as important – optimize or even delete processes. As a result, your business will become a lean, cash-creation machine with delighted customers and happy employees.  Eventually, it can work without you, or be sold to a new owner. 

You’ll learn 

  • How a home cook created a sustainable little e-commerce business by giving a recipe to her 9-year-old daughter
  • Why “The unexamined business is not worth running” according to Michael
  • The three key “Goldratt questions” for change management
  • The super important question from Seth Godin
  • Why “Shiny objects” can distract you from a half-baked business!
  • How an unconscious fear of failure can drive poor process
  • The best way to get accurate processes fast – hint – be less creative!
  • How to create a business where you job is …turn up and collect the paycheque (literally!)

Resources mentioned

  • Eliyahu Goldratt 
  • Seth Godin 
  • Flowster (Trent Dyrsmid) – software system for creating SOPs/processes AND tracking use of them by team. Also a marketplace for ready-made SOPs (including many Amazon ones)

E-commerce and Business Books mentioned 

Note: some of the links above may be affiliate links. We are highly selective in who we partner with. We only link to resources we know well and have vetted for our listeners. Also we’ve committed to plough any affiliate income into making this podcast ever better for you, our listener!

Episode transcript:​ ​ 

TEL Process frameworks 1 of 2
[00:00:00]Jason Miles: [00:00:28] All right. In today’s episode, we are going to talk about principles related to process, and Michael’s got a fantastic list of six process power principles. I think that’s what we’re calling it. if you’re interested in exploring. How to really put together high level, but simple concepts related to strategy and process.
[00:00:48] This episode’s for you. Do you want to use these correctly and create your own recipes, I guess you could say in your business, you want to optimize process. You want to eliminate wasteful time and effort, [00:01:00] and you really want to streamline your business. And this is a critical effort and role for many, many e-commerce owners to sort out and think through.
[00:01:08] And so in today’s episode, we’re going to dig into that.
[00:01:10]
[00:01:10]So Michael, you’ve got an anecdote to get things started on this conversation. You want to jump in and share that?
[00:01:15]Michael Veazey: [00:01:15] so my wife’s been busy shopping for different things online as everyone does, during lockdown, which we’re kind of still in, in London at the time of recording, but we’ll be the case in the future as well. So very future proof business e-commerce.
[00:01:27] . And she’s been busy shopping for some lovely fudge. And these guys specialize that she’s been buying from this specializing fudge, nothing else. And it’s been going back to them again and again. So obviously you’re happy, your customer, and they have a very lovely family business sort of vibe on their website.
[00:01:41] And the, the lady who runs, it’s called Yara, is fudge.
[00:01:43] And
[00:01:43] this is what she says about their family story on their website.
[00:01:46] Michael Veazey: [00:01:46] She said, she’s been trying to make a. Successful batch of fudge. She tried for the past five years, but either turn it toffee didn’t set or became gritty. As a child, she would make delicious crumbly fudge with her mother, but the technique appeared elusive.
[00:01:59] That was until the [00:02:00] day that she left her nine year old daughter Melissa with strict instructions on how to finish the batch while she rushed off to collect her second daughter, Dee from Brownies. ,They returned to find the most perfect batch of fudge.
[00:02:10] “How did you do that?” She asked Melissa. “I did what you told me to,”
[00:02:14] she said. So Yara says ” Clearly some cooks will cut corners, but you can’t do that with crumbly fudge. It really is an exact science. And I learned that from my daughter. So first of all, what lovely brand positioning, a really relatable story, but also probably true. And what I take from that for the process thing is it’s a recipe.
[00:02:32] If you don’t cut the corners and you follow an exact recipe, you get a consistent result. And as a result, she can now. Do this on a commercial basis or a bit it probably pretty small and sell stuff to my wife repeatedly, and my wife is happy with the result consistently, whereas an inconsistent, way of doing things I is not processed or recipe driven was never going to work.
[00:02:49]So that’s just a very at home example of how simple and yet important a process can be.
[00:02:56] Jason Miles: [00:02:56] Well, it’s interesting you mentioned that because this whole lockdown [00:03:00] scenario for us has played out in the, my kids are all with us at home. I have, , kids in there, late teens and early twenties. And so just the first week into it, my wife cinnamon said to the kids, we said to them, this is not fair.
[00:03:14] For your mother to do all of the cooking, all of the everything, shopping. And so we basically said to the kids, you’re going to take turns doing dinners and learn to cook. And so in this last few months, it has been this journey of them basically planning the meal prep and cooking. And you know, it’s the exact same thing when we did, for example, Thai food or something.
[00:03:40] When my kids cooked it, I’m like, this tastes just like the restaurants and, and what I realized was they were following the precise recipes that they would find on wherever, you know, online. But when, when I cook, I’m like, ah, just throw some salt in it. Ah, just do you know? And I would never, I’ll never [00:04:00] do specific measurements.
[00:04:01] And cinnamon has recipes. She’s done for a long time. So she doesn’t do specific measurements. But when you do the outcome. Is really, really different. And I think , your anecdote is Spot on with that. Following a process really makes a huge difference.
[00:04:14] Michael Veazey: [00:04:14] And to your point as well, the worst person to follow a process particularly is the person who’s created it, especially the entrepreneurial type, because you get arrogant and you think, Oh, I don’t need to do this. I’ve been doing this for 20 years. And actually what you did is you worked for five years, you’ve got a beautiful formula down, and then you spend 15 years ignoring it, just like Yara did, and therefore didn’t get the result.
[00:04:33] the other thing to say is that. It. It ties back in with the team thing that I know is your great passion. And we talked about, which is to say, have a, a process and then get other people to follow it. You’ll get a better result than doing it yourself.
[00:04:45] Jason Miles: [00:04:45] Let me share the six principles, but let me just mention one tiny little anecdote before I do that. That follows on in the same idea. It’s different than cooking. It’s actually making money related, and that is, I followed Jeff Walker’s product launch formula process. [00:05:00] for the last 10 years, and one of his, you know, customers, I guess you could say, for that program.
[00:05:05] And when I first implemented it, we had a program we were trying to sell and we’d sell about 19 to 20 people into it every time we launched this at all products called design Academy. And I followed his process and had over 200 people, you know,ign up. And I know it was his system. And then , in subsequent years, that was like 10 years ago.
[00:05:24] Well, in subsequent years I’ve done the. Just throw it together from memory, , kind of not follow the process type approach to it. And my outcomes are dramatically different when I don’t follow his precise recipe. And I’ve realized that over years. And then I go back and I say, okay, clearly I didn’t do it properly last time.
[00:05:45] Let me rewatch all of his videos. Let me re follow his exactly process. And guess what happens. I get a huge pop. so anyway, that’s the same idea related to making money. So let me read the principles. these are your, your six [00:06:00] power principles, and then let’s dive into it. So the first one is review.
[00:06:04] Examine everything repeatedly. Number two, start with the end in mind. Number three, stand on the shoulders of giants. For those who have gone before. Number four is focused on the critical few. Number five is move levels with awareness and fluency. And number six is monitor, communicate and correct. So let’s dig into principle one together.
[00:06:29] So what does review? Examine everything. Repeat. How do you do that? What does that mean? How do you break it down?
[00:06:36] Michael Veazey: [00:06:36] Well, the first thing I should say is review, examine everything that gets repeated. I put it very and clearly . I think , the first thing with apologies to Aristotle who said, I believe the unexamined life is not worth living. Now, I’m not that philosophical. He was a philosopher by trade and I’m not, but the unexamined business is not worth running is certainly something I would dare to say because it just becomes a nightmare of inconsistency.
[00:06:57] Imagine if this lady yarrow is still producing [00:07:00] really inconsistent fudge and we sell it to my wife or anybody else out there. refunds, rude reviews, et cetera, et cetera. Apart from the fact that it would be stressful, you’d have arguments with a husband and wife about why the business isn’t working so.
[00:07:13] Whatever you do repeatedly is a process. It’s happening as a process anyway. But if it’s not documented, you stand a good chance of it being very inconsistent. We’ve just given three examples of that. And the other thing says habit is a really powerful thing because it can work for you or against you. So examining gives you a chance to reset your habits, to make sure they serve you.
[00:07:30] So I think it’s the most fundamental thing. so my question to you though is, would you agree with this or how, if so, how does it pan out in your business or your client’s businesses?
[00:07:40] Jason Miles: [00:07:40] Oh, sure. I mean, I totally agree with the idea and sentiment. I mean, I’m, I’m sort of a visionary, longterm thinker, I’ve mentioned this before, cinnamon and I working together is she is a brilliant technician and artists, and so she’ll make amazing. Outcomes happen that are really finally put together.
[00:08:00] [00:07:59] And I’m the one who kind of takes the 30,000 foot view all the time. Well, let’s stop and think about what we’re doing at kind of the meta level or macro level. And so between the two, we kind of dance back and forth, but, the examination of our businesses, it’s something we, we frequently do it. Just an example from yesterday.
[00:08:17]we heard a big announcement that accompany, we’re familiar with that was a subsidiary of a large company in our industry was sold to another company. Yeah. And in the sales announcement, they described this other company and that other company started the same time we did 2008. And, and in the announcement, it just described what we already knew about them, which was, you know, they have something like 650,000 YouTube subscribers and they’ve really built their business on the back of YouTube.
[00:08:45]and we also started our business on YouTube. but, I think we have 20,000 subscribers. w video content. But clearly the process related to using YouTube in our business was we just took a divergent path [00:09:00] from them, you know, 10 years ago or more. And, we were comfortable with our path, but yesterday we were talking about and just kind of just sort of reflecting on it, what, what did they do?
[00:09:10] What have we done? How did their system work? How did our system work? Are there lessons to be learned from them? And it wasn’t really jealousy or any kind of envy or anything like that. It was just, thinking about their process versus our process. Because some of these that you can publicly see. You know, you can see people do things. So, I mean, I think every business owner needs to constantly be reflecting what are other people doing in the industry? What’s the outcome of that? How do, how do I learn lessons from them vicariously? And, and, and modify, tweak, change the business. Just one final quote though.
[00:09:44] I hope that comes to my mind for this one is Eliyahu Goldratt. The goal is the book, and he’s the author and he, his famous famous system. It’s, it is these three questions, what to change, what to [00:10:00] change too, and how to make the change. And that is a process for continuous improvement, really. And so I think those are, that goes along with this idea of.
[00:10:11] Reviewing and examining everything. That is a constant ongoing process in your business. Yeah.
[00:10:18] Michael Veazey: [00:10:18] Absolutely. I just think that what you and Cinnamon have been doing, it’s just that reflective time that a lot of people don’t take is really important. It’s not going to show up in your next, months results, but it can over time be really super powerful. I really agree with that.
[00:10:33] Jason Miles: [00:10:33] you’ve gotten a Seth Godin concept too, that I think I’ve heard you mentioned before. What does that.
[00:10:38]Michael Veazey: [00:10:38] I think it’s really super important. When I heard it on a podcast, which isn’t one of his standard podcasts, I can’t really give a good reference point, but we can dig it out and put it in the show notes, which will be of [email protected] has ever, Seth Godin, such a smart thinker. But this is.
[00:10:51] Even for his stuff, which is really gold. This is, you know, super gold. That’s a terrible phrase. But he says, basically, you’ve got to be very, [00:11:00] very clear if you’re a freelancer or an entrepreneur. So I would say you’ve got to get a truthful answer and then act accordingly. So what he says is a freelancer gets paid when they work.
[00:11:08] If they don’t work, they don’t get paid. That’s how you can identify them. Whereas an entrepreneur creates a business, and when the business is built, it generates income with or without the entrepreneur’s daily input. I mean, yeah, surely monthly, yearly management either way, as he says, look, I’ve made a living in both ways, Seth Godin said, and either way is perfectly fine.
[00:11:25] Either way can also make good money. You can have a good life and contribute fully. So you can have freelancers, like lawyers, business consultants can make very good money, have fulfilling life. And I know several people in those professions who are very fulfilled and make a lot of good money.
[00:11:36] But the terrible trap, and this is why it’s so important, is to.
[00:11:40] Believe you’re an entrepreneur, but act like a freelancer. So my massive hint to anyone who’s going examine whether your business can work without you. If it can’t, it’s not a business yet. It’s a freelance job and probably pretty unstable, which doesn’t mean that you should feel bad about it as long as you’re aware of the fact that on the process to creating a business that is the [00:12:00] entrepreneurial activity, in my opinion.
[00:12:02] But I think it’s so, so important to be aware of the difference and to be honest, and if you’ve got a great freelance gig going where you work and you get paid, and then you don’t work, you don’t, as long as you deal with it in the appropriate way, it could be a great life is just when you think you have a business and you have a job, that things can go horribly wrong.
[00:12:18] So I think you just have to really examine that with great honesty and then decide which way you’re going to go with it.
[00:12:24] Jason Miles: [00:12:24] Wow. I love that. I hadn’t heard that before, and it makes a ton of sense. It does clarify the idea.
[00:12:30] So I love it.
[00:12:32] Michael Veazey: [00:12:32] Well, what are your thoughts on that? I mean, if you come across people in your, amongst your clients that are doing one and thinking they’re doing the other.
[00:12:39] Jason Miles: [00:12:39] Yeah, I think so. I mean, in fact, it reminds me of a conversation I had this week with a coaching client, and not to reveal any details, but very successful eCommerce seller, a veteran business operator. And when we started our consultancy together with him, he made it very clear that his goal was to work for the next five years.
[00:12:59] To [00:13:00] build a business for it to be sellable. this conversation we had this week, we were reflecting on that and asking the question, okay, at the end of five years, what exactly are you doing that someone else would have to do and do you have someone on your team that’s going to be doing that?
[00:13:18] So for example, if, if we had some guy in London named Michael who wanted to buy your business. And he said, well, who does the stuff? Would you, what would you be able to say? Yes, , every part of this business is done by someone on the team other than me. So I can therefore say, see you later.
[00:13:35] Goodbye. Retire and the business, it’s fully whole. And, so we talked through that and, and, and the challenges of that, what it means is anything he does, he has to find a process, . For replacing himself. and that’s . Deep linking. I mean, that’s the hard work.
[00:13:52] And it’s funny because you say to yourself, well, I like working and I want to be in my business. I don’t want [00:14:00] to take that terminal step, and , when I’m ready to retire, someone else will sort that out for me. And I’ll just say, you know, kind of what I said to him was, if you expect the person who’s going to buy your business to sort out those problems, you can expect them to pay you a lot less for the business. Then if you have it all sorted out ahead of time. cause , I’m not going to pay for work that I do myself
[00:14:21]fix something. I’m going to get a discount and say, Hey, I’m buying this business for a bargain price because there’s a whole bunch of stuff that nobody’s sorted out. And so I think that goes to the idea that you want to think through.
[00:14:33]in Seth Golden’s terms, have you created an entrepreneurial situation where you built a business that’s fully whole. that you own. And Michael Gerber, I think, would call that an owner. You’re the owner of the business. You’re not the technician.
[00:14:46]Michael Veazey: [00:14:46] Absolutely. And that, that brings you very much onto the second principle, which is start with the end or begin with the end in mind. As it was put famously by Stephen Covey in the seven habits of highly effective people, so beginning with the end in mind, the classic situation you just articulated in the [00:15:00] beginning with the end in mind, a timescale five years time, and I want to sell the business.
[00:15:04] And Exactly what you just said is, is true. And what are your thoughts on that? You’ve, you’ve already shared that on eight dates, so I mean, what are your thoughts about how to best do that?
[00:15:11] Jason Miles: [00:15:11] You know, the biggest mistake I see people make sometimes in coaching work is, and it sounds weird, it sounds counterintuitive. They start stuff and it’s almost like in their mind they expect it to not work and so, and therefore they’ve come up with another scheme or plan And a lot of times they’ll talk to me about their new scheme or plan like, I’m going to do this cause I watched a webinar .
[00:15:39] And I’m like, well, what about your main business? It’s not done yet. It’s not fully cooked. you’ve got big gaps in your current system, your current business, and I think the begin with the end in mind quotas is vital for us as e-commerce sellers because I think the question is what will it look like if [00:16:00] your current business that you’re currently building is 10 times bigger? And w would you really start a whole nother business on the side if your current business was 10 times bigger, if you had 10 times more employees, 10 times more, customers. and so I think that one of the counterintuitive points for us as sort of early entrepreneurs into our efforts, you don’t begin with the idea that whatever you’re doing is going to fail.
[00:16:27] So you have to come up with a plan B. All of a sudden. You know, like I, I think that’s what it’s happening. People come up with a plan B cause they’ve gotten this training or a new, they watch a new webinar or something when plan a hasn’t even been really fully envisioned. , I think that’s the thing that a lot of us can stumble over is, are we fully envisioning of clear and vibrant future of our current business and the implications for our personal behavior, related to that.
[00:16:55] Michael Veazey: [00:16:55] I liked that the implications are personal behavior. Yeah. So in other words, start by [00:17:00] thinking, what a CEO of a 10 million pound company be heading to doing this in three years time or something. . Thomas Watson jr who created IBM said something like, you know, the reason we grew so fast and so big is because I had it done in my mind before we started.
[00:17:12] He saw the business. Now it’s kind of easy to say that retrospectively too, but to be fair, not many CEOs, even if the vastest companies have said that, and I guess you could say IBM. Yeah. It’s not a big name now, but yeah, but that’s because the guy who founded it isn’t around to run it if you were, yeah. I wonder if it still would be.
[00:17:28] The other thing that Springs to mind is the Bruce Lee quote, which is a bit cheesy, but I’m going to say it anyway. He says, I don’t feel the man who’s knows 10,000 moves. I fear the man who knows one move and has practiced it 10,000 times. So to your point of focus, I really think you’re absolutely right that it’s very easy to get distracted by shiny object syndrome.
[00:17:45] So there’s, you know, a mixture of fear and greed, shiny object syndrome, you feel fear of missing out, and then, fear of failure. So between those two, you can very easily get blown off track. And I think one of the purposes of a coach is to remind you, what you already have in your business that’s valuable.
[00:17:59] Jason Miles: [00:17:59] So do you [00:18:00] have more on this before we move on to principle three? Any other thoughts on principle two?
[00:18:04] Michael Veazey: [00:18:04] Yes, absolutely. A couple of things. One is to have a process for creating processes. So if you like a general operating principles or even a constitution, some carpenter work, the system talks about this, and it may sound a bit abstract, but actually if you start creating processes all over the shop and you’re doing some, and you’ve got some VA’s doing, Simon may be a business partner.
[00:18:22] You can end up with processes that they have a lot of inconsistencies. And if you sought out upfront, even what you’re gonna name them. You know, how are you going to order them? So you can even find them, which is one of the classics that have documentation issues. Then you can avoid a lot of trouble.
[00:18:34] Again, to your point of how does this business look when we’re doing 10 million pounds a year? , or , $10 million. You can’t just have a few scrappily named documents. You need to have them in a very orderly way, in a very consistent way. And so that’s very important.
[00:18:46] And then the other thing is start with the end in mind is one thing, like a big hairy goal is as Jim Collins puts it.
[00:18:52] But then the other thing is to set very clear quarterly priorities. So you don’t just work on big goals, but , you break that down to the quarter, and then you can work [00:19:00] towards those much more easily week by week .
[00:19:02] Jason Miles: [00:19:02] yeah. I would just say that’s probably been our biggest practices monthly at a high level, monthly profit and loss statement reviews, and then quarterly profit loss statement reviews, and really what we do right. In our businesses. I think what you could describe us as is financial based operators.
[00:19:20] Like w like we’re finance focused operators, not top line revenues focused, not even product focused. I think what we’ve over a decade or more now come to realize is. Process can be horrible, a huge waste of time. If the ladder is leaning against the wrong wall and you build those process, but then the hard acid test is, is this hitting the bottom line effectively? Is the profit in our business growing because the process in our business. Is efficient and has grown well. And a lot of times it will have process if we can eliminate whole parts of our business and [00:20:00] things that didn’t hurt us at all.
[00:20:01]On the profit side of things. And so that’s really the lens we look through for this stuff, .
[00:20:05] Well, let me ask you this question. principle number three is stand on the shoulders of giants. What do you mean by that? How do you do that? How does that work?
[00:20:13] Michael Veazey: [00:20:13] Well, I suppose I just thought it sounded like a cool phrase, but actually what I really mean is copy existing processes and more mundane way of putting it. But a bit like you were saying, where you were reviewing, , your competitors or people in the same industry who had done a different sort of path where they use of YouTube. Sometimes you can just simply copy an existing process directly, within legal and ethical limits. By the way, you may need to buy it. And there’s a great, Tool called fluster, run by a guy called Trent dysmetria, who I interviewed recently for the podcast. And, that’s really good way of doing it.
[00:20:42] For example, there’s lots and lots of tools out there. There’s sort of templates on a signer or Trello or what have you.
[00:20:47] Jason Miles: [00:20:47] I’m not familiar with it. How does, what does it do for you?
[00:20:50] Michael Veazey: [00:20:50] Fluster basically will kind of integrate having a, an SOP or a template for how you do things, or they call them workflows with the whole managing people going through it, which you would typically do through a [00:21:00] sauna or Trello or whatever.
[00:21:01] So you can create or copy an existing process and they have a kind of marketplace for SLPs, which I think is really cool. And you can He also sells some giant process for, amazon wholesale. where you can buy for two and a half thousand dollars, you can buy basically a system.
[00:21:16] So instead of buying a course on how to do it, you buy a system and then plug some VA’s into it, which is kind of the next level up, I think from following a course. , that’s a very obvious example. There are many of less obvious examples around, but I think that’s really important to not reinvent the wheel.
[00:21:30] Cause most of the time what you’re doing has been done before, many times and refined by somebody. So my question then with copying or modeling processes, what are your experiences with that
[00:21:41] Jason Miles: [00:21:41] Yeah. I love it. It’s a shortcut for sure. I mean, it’s, it’s a hugely beneficial concept to just look at the experts, copy what they’re doing. Two examples come to my mind real fast. this weekend, I spent time, going through some Frank Kern training. On copywriting, and if you’re not familiar, Frank Kern is [00:22:00] fantastic copywriter, and he describes how he learned, which was had a monitor open on the left and then he would do.
[00:22:06] Word for word example, application of the copywriting into his own business, changing, of course, everything related to the details. But the concepts, the framework for copywriting was very, in that regard, standing on the shoulders of giants. And I love that. And so I was doing that exact same thing with a Frank Kern facebook ads copywriting’s a concept. And so, and I literally typed it into a word document. He was doing a PowerPoint slide on his, on his training, and it was a training. I’d signed up for it, and I was just literally writing his copy in a word document so that I can use that as my template.
[00:22:43] The other thing I noticed this weekend was a, good old Nathan Hirsch, our buddy who founded Freeeup. he did a Facebook post and he said, right now we’re building this marketing system. And he listed like six things in his Facebook post. And I was so good. It [00:23:00] was like, he’s building this and then he’s building this and this and this and this is how it all works together.
[00:23:05] And I was like, dang, I’m just copying that whole list. So I literally, in my phone, tapped it, hit copy, went to notes and put paste just so I could , keep it, and refer back to it. And, use that as sort of a guide for replicating his wise approach to that topic. So I’m a huge fan of this.
[00:23:23] I tried to do this as much as I can. Of course. Book learning is in essence, the foundation for this, but nowadays, online training is so available to us keeping it and learning from it as vital.
[00:23:34] Michael Veazey: [00:23:34] Absolutely. Well, I would say there’s a couple of things. I mean for, for modeling at the more high level or you know, the strategic site level, then the books can be really fantastic if they really been thought through by somebody. But yeah, when it comes to the more tactical level stuff, I think, yeah, Frank Kern is, I also am a fan of his, his copywriting approach.
[00:23:52]Yeah. He’s quite a character. I mean, it’s, it’s very salesy, but very charismatic. So if you can bring it off, you know, it’s wonderful stuff. And then Nathan Hirsch, I agree. I [00:24:00] mean, I know Nathan quite well, interviewed him for the podcast. I’ve used his services. My clients have used his services. I mean, he is Mr. Process. He’s super efficient. So definitely good person. The model, for sure. I’m a big fan of his work,
[00:24:11] this is a huge topic. We’re going to do a second bite of this cherry next episode because we’ve got to. Finish off the next three principles, but for today, what are your takeaways from the topics we’ve covered ?
[00:24:20] Jason Miles: [00:24:21] Well, I think the thing that stands out to me the most is your Seth Godin quote, which is this idea of, are you a freelancer doing pay for hourly gig type work, or have you built a business? It can operate without you. I’d love that concept
[00:24:34] . I would just challenge everybody to hit pause on your.
[00:24:38] ITunes player or whatever, and think about it and really begin with the end in mind. , it just needs to be thought through. What happens if we get hit by a bus? What happens if we want to sell our business? What happens if we’re ready to be done and want to move on and, or just retire and someone else run our business and send us a check.
[00:24:57]One final anecdote I’ll tell you about that’s [00:25:00] cinnamon. And I laugh about together. I have a business mentor and friend who runs dairy queen franchises in the United States, you know, like burger King or McDonald’s. and he runs some for dead for these owners. They would own the properties and he was the operational manager, but he also owned his own franchise.
[00:25:32]we were in his office one day. And one of the brothers, the owners walks in and Ron take something, an envelope, office his desk and just hands it to the guy. And the guy turns around and walks out and they didn’t even say anything to each other. And we were like, what was that? and then he said, Oh, they’re off to Cabo San Lucas.
[00:25:54] That was Larry, one of the owners. And that was his checkout was giving up cinema that I [00:26:00] laughed and laughed and she said, it’s cinnamon all the way homesick. How do we get around so that we can have checks handed into us so we can go to Cabo San Lucas. And that was exactly what Larry and his brother had sorted out was you have a system in place.
[00:26:15] So these are the recaps to me is think through the end in mind. Yeah. And really build a business. It has and effective system in place that you can benefit from.
[00:26:24] Michael Veazey: [00:26:24] Beautiful. I love that anecdote. That’s really funny. And it’s always like real life is always funny and anything you’d come up with cause it just sounds a bit like, I’m just seeing that in my mind. It’s like a kind of wacky film scene from the Cohen brothers movie or something. I love it. But who doesn’t want that?
[00:26:38] So just to wrap up then, I, first of all, hope you’ve been enjoying. If you’re listening to this, I’m really hope you’re finding this valuable. If you are, then the usual plea applies, which is please subscribe. It’s great cause then you’ll get much more of the same thing delivered to your inbox. And if you’re liking this episode, then we are going to be unpacking all of the bigger picture frameworks that we put in and we’re not just going to leave it hanging.
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