Multiplier Mindset® with Dan Sullivan

Bold Moves Lead To Big Wins For Entrepreneurs, with Lisa Larter

Sep 16, 2024

Lisa Larter, the owner of a strategic marketing firm, shares her entrepreneurial journey, emphasizing the value of a clear vision. She discusses the crucial role of cash flow understanding in business success and the importance of having a financial safety net. Drawing from her retail background, Lisa highlights how it shaped her marketing strategies. She also stresses the benefits of mentorship and community support for entrepreneurs, showcasing how collaboration can drive significant growth.

17:12

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Episode guests

Lisa Larter

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Episode notes

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Quick takeaways

Entrepreneurs should recognize their role as visionaries, allowing them to empower their teams and enhance overall business productivity.

Understanding cash flow is essential for business owners, as it helps them manage finances and avoid potential financial surprises.

Deep dives

The Value of Vision and Purpose

Entrepreneurs often feel a strong emotional commitment to their vision for growth but mistakenly believe they must execute every aspect themselves. The insight shared highlights that many talented individuals lack a clear purpose for their abilities, which entrepreneurs can provide through their vision. By recognizing their role as visionaries, entrepreneurs can empower their teams to work towards common goals. This shift in perspective enables them to leverage the strengths of others, leading to greater overall success and productivity within their businesses.

Intro

2min

The Journey to Entrepreneurial Insight and Cash Flow Mastery

5min

Smart Cash Flow Management for Sustainable Business Success

2min

Empowering Entrepreneurship Through Mentorship and Team Building

6min

The Financial Freedom Formula for Entrepreneurs

3min

Lisa Larter has a strategic marketing firm, providing consulting services around strategy and business advisement. Like many entrepreneurs, Lisa started off thinking she had to do everything herself. In this episode, she shares the wisdom she’s gained from using her growth mindset to gain continual business success.

Here’s some of what you’ll learn in this episode:

The role of an entrepreneur in their business.
The way in which Lisa’s background in retail helped her with marketing.
The importance for entrepreneurs of understanding cash flow.
How to make sure you’re prepared to pay taxes.
What let Lisa know that her business idea “had legs.”
The wisdom Lisa would impart to her past self.
The variety of benefits Lisa has gotten as a member of the Strategic Coach^® entrepreneurial community.

Show Notes:

The entrepreneur’s main capability is vision.

There are many talented people who don’t have a purpose or a vision for using their talents.

A lot of people understand sales and profit, but they don't understand cash flow and the timing and movement of money.

Meet as many of the right people as you can that you want to do business with.

People should aim to have a baseline—a certain amount of cash they want to carry in their business—and do whatever they can to avoid going below that number.

Entrepreneurs want freedom in their lives. And money buys you freedom.

Every entrepreneur needs some type of mentor, coach, or advisor that they can talk to when they have difficult things going on.

You will cap your potential if you don't learn how to lead and build a team.

If you’re entrepreneurial and you have a dream, it doesn't matter what your background or education is.

Resources:

Who Not How

Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz

The Self-Managing Company by Dan Sullivan