Business Killers: The Reason Profitable Businesses Still FAIL | Gary Harper
Jan 17, 2024
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Business coach Gary Harper joins the Wealthy Way podcast to discuss the importance of proper systems and processes in entrepreneurship. They introduce a new business operating system called RISE and emphasize the need for communication schedules, KPIs, and quarterly assessments. They also talk about the impact of their partnership and the importance of having a proper operating system in place for business success. Other topics include buying houses without personal funds, monitoring and adjusting business operations daily, building a personal brand, the importance of coaching, and the power of storytelling.
Building systems and processes is crucial for sustainable growth and success in business.
Entrepreneurs need to let go and delegate tasks effectively by implementing proper systems and processes.
Measuring and monitoring progress daily is essential for identifying changes, addressing issues, and ensuring continued growth in business.
Deep dives
The Importance of Systems in Entrepreneurship
Entrepreneurs often overlook the importance of building systems to support their business. While jumping straight into engagement might yield short-term success, it's crucial to have the right communication schedule, KPIs, and processes in place for sustainable growth. Successful entrepreneurs understand the significance of tracking progress daily, setting clear goals, and inspiring their team to follow a shared purpose. Implementing a business operating system like RISE can help entrepreneurs streamline their operations, make hiring and scaling easier, and ensure they have the necessary resources and structures to anticipate and navigate challenges.
The Challenge of Letting Go for Success
One common hurdle for entrepreneurs is learning to let go of tasks and delegate effectively. Many business owners struggle to transition from doing everything themselves to trusting others to handle important responsibilities. Building proper systems and processes, including organizational charts, SOPs, and process ownership charts, can help entrepreneurs let go without losing control. This allows them to focus on scaling their business and pursuing their purpose, ultimately achieving the freedom and growth they desire.
The Power of Daily Process Indicators
To achieve long-term success, entrepreneurs need to measure and monitor their progress daily. Waiting until the end of the year or quarter to assess results can lead to missed opportunities and potential business challenges. Implementing daily process indicators allows entrepreneurs to identify subtle changes, make necessary adjustments, and proactively address issues before they become significant problems. By measuring purpose, profits, performance, and processes, entrepreneurs can ensure they stay on track, inspire their team, and continue growing their business effectively.
The Importance of Adapting Processes
The podcast episode emphasizes the significance of constantly evaluating and innovating processes in business. It highlights a situation where a visionary leader recognized the need for change when process indicators started shifting. However, other teams ignored these indicators and continued operating based on past successes. The key insight is that businesses must stay proactive and responsive to changing process indicators to maintain long-term success.
The Value of Coaching and Adjustments
The podcast discusses the difference between teaching and coaching in the context of entrepreneurship. It highlights that while teaching provides knowledge and information, coaching offers help with execution and accountability. The speaker emphasizes the importance of coaching and the value it brings in terms of making the right adjustments, overcoming fear, and providing a mindset for growth and improvement. Additionally, the podcast acknowledges the importance of continually questioning, seeking adjustments, and embracing new ideas to achieve personal and business growth.
Are you growing and scaling your business the right way? Learn more with business coach Gary Harper in today's episode of the Wealthy Way podcast! Join Wealthy Business! Learn more here - https://wealthybusiness.io/ --- Want to be coached by me on real estate investing? Join our Wealthy Investor program today at https://wealthyinvestor.com/podcast
Would you like my team to help build your personal brand? Apply to join Pineda Media at https://pinedamedia.com/podcast ---
Connect with Gary! Instagram - https://www.instagram.com/gharper1us/ https://www.instagram.com/wealthybusiness___/ TikTok - https://www.tiktok.com/@gary_harper_official Join Wealthy Business! Learn more here - https://wealthybusiness.io/
Ryan Pineda welcomes his business coach Gary Harper back on the podcast!
Ryan and Gary dive deep into business strategy, including Gary's newest plans, called Rise. The process is tried and true seen in Ryan's own businesses! This strategy is now being implemented within the Wealthy Business community as well.
Ryan hired Gary four years ago right before the pandemic hit. The previous business structure Ryan was using fit the pre-pandemic world, but Gary points out that the pandemic changed the world, so business structure needed to change as well. Ryan recaps their progress together that resulting in them partnering in Wealthy Business!
Gary started his business career in the corporate world as a W-2 worker. He successfully grew his career in corporate America but failed in his real estate business. Success in the corporate world does not translate directly to the entrepreneurial world. For example, the structures to build a successful business are usually in place in the corporate world, whereas entrepreneurs need to create these standards and protocols within their own companies.
Gary warns entrepreneurs to be careful hiring a teacher that calls themselves a coach. Teaching come from knowledge, and coaching comes from experience.
The RISE Business Framework is made up of 4 areas: Resources, Inspiration, Systems, and Engagement. Join Ryan and Gary dive deep in the four sections of the RISE business strategy!
--- If you want to level up, text me at 725-527-7783!
Join our FREE community, weekly calls, and bible studies for Christian entrepreneurs and business people. https://www.wealthykingdom.com/ --- ---
About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media a...
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