078 – The Language of the Self-Managed Business Owner

A great definition of a Self-Managed business – thanks to Dan Sullivan:

At Strategic Coach, we define a Self-Managing Company as a business that manages itself to greater growth. It’s a company that can run smoothly and effectively — and even grow! — when the entrepreneur isn’t there.

Creating this kind of company frees you up to focus on being the visionary and innovator rather than managing cash flow and the day-to-day activities in your business.

When your company runs itself, you have the freedom to pursue worthwhile interests outside your business and to participate only in the areas of your business that you love.

What I want to do in this podcast series is provide a definition of terms for the Key concepts you will need to Grow Your Business.

To create a shared language for these key words:

1. Entrepreneur


2. Marketing


3. Sales and Selling


4. Vision


5. Systems


6. Innovation


7. Working on your business


8. Working on your self


9. Positivity


10. Training

I am not saying that my definitions are the only right ones – Most words have more than one meaning.

The word RUN for example – has over 100 different meanings.

But for my Work – my work of MMT – and growing You and growing your business – I want to dig into the Precise Meaning of several important words.

The goal is to Expand our Thinking – a bigger Vision – get rid of limiting beliefs and mental lies that are holding us back.

To Dream bigger – you have to think bigger – to think bigger, you have to think Better!

We all have some old limiting beliefs – or Wrong mindsets.

And to have those beliefs transformed – we have to renew our minds with New Ideas.

Thank you for being a part of the MMT community – And for you to get the most value from anything you hear – you need to know what I mean.

I am creating A Shared Language

Entrepreneur:

A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.

Wrong ideas of Entrepreneur:

• A risk taker


• A business owner or a job owner –


• Sole proprietor


• Self-employed


• Self-employed professional

My Test:  these 2

1. If you’re not making money when you are not working – you are not an E 


2. If you have to be involved in the order fulfillment of the work – you are not an E

Now of course there are seasons and phases of all business

• In the startup, you are in it all the time
  
  
  
  • But you have a goal, a vision of a business in the future that works without you
  
  
  
  


• During times of crisis – like a pandemic – your leadership may be critical


• During growth spurts

 Solopreneur has been around for quite some time. Macmillan dictionary defines Solopreneur as a business owner who works and runs their business alone.

An Entrepreneur – for our Shared Language – the language of MMT

• A business owner – not a job owner. You are not self-employed


• The business leader – not an employee – – – that is the goal, even if it is not the present reality


• You as the owner business are apart FROM the business, not a part of it


• Your business runs without you


• Your business is Self-Managed with systems, process, checklists etc. AND trained people that run them


• You are the Inventor, the Creator, the Intelligent designer of the business


• You work On the business – doing the work this work – not in the business as an employee


• My personal Bent: You are a marketer and a sales professional.  You can have the Best idea in the world – you have Absolutely made the Better mousetrap – But if you don’t know how to sell it…. It will flop


• Dan Sullivan: You are free to focus on being the visionary and innovator rather than managing cash flow and the day-to-day activities in your business.

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    • And you have the freedom to pursue worthwhile interests outside your business and to participate only in the areas of your business that you love.
    
    
    
    
  
  
  
  

That my friends is an Entrepreneur – and a Worth Goal

Next week:  The Language of Marketing