Entrepreneurs always want to be moving forward. What determines whether they’ll be able to is their understanding of the difference between cost and investment. In this episode, business coaches Dan Sullivan and Shannon Waller talk about the growth mindset that lets you improve for the rest of your life—versus the mindset that means you’ll forever be stuck right where you are.

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

• The reason why small entrepreneurs are small entrepreneurs.
• Why you won’t get a return on investment if you think of team members as a cost.
• Why becoming a Strategic Coach® member isn’t a cost, but an investment in yourself.
• Why it’s dangerous for your team members if you think of them as a cost.
• How to switch from operating in costs to operating in investments.

Show Notes:

Some entrepreneurs have essentially only created a job for themselves that doesn’t go anywhere.

If you see hiring people as a cost, you might just do all of the work yourself.

When entrepreneurs do everything themselves, 90% of what they do doesn’t actually make sense for them to do.

Investing in team members means you’re freed up to do better work, and that will easily pay for the investment.

When you hire someone, you’re investing more in yourself than in the other person.

If you consider someone to be a cost, that person will know it.

Making an investment is a risk, and it can require courage.

Someone who treats other people as costs treats themselves the same way.

With an investment, you'll put an enormous amount of thinking into it to guarantee that it’s successful.

When you’re making an investment, have a goal for the return and a deadline for that goal.

Resources:

Casting Not Hiring by Dan Sullivan and Jeffrey Madoff

When Patti Mara graduated from university in the recession of 1989, she couldn’t get a job—so she made one up instead. In this episode, Patti shares how she’s achieved entrepreneurial success, the exciting new project she’s launching to support local businesses, and what she’s learned as a long-time coach in The Strategic Coach® Program.

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

• The invaluable resource that Patti turned to when she realized she didn’t know how to build a business.
• Some of the most helpful tools Patti learned in her first year at Strategic Coach®.
• The difference between tasks and results.
• The value in separating the fault from the problem.
• “magic” that happens in every Strategic Coach workshop.

Show Notes:

• Entrepreneurship often emerges out of necessity, but being good at making up a job for yourself doesn’t mean you know how to build a business.
• Strategic Coach concepts can dramatically shift an entrepreneur's mindset and ability to build a thriving organization.
• Every coach at Strategic Coach is also a Program member who uses Coach tools and concepts in their own business.
• What you sell is actually the vehicle for how you create value.
• Your business is the value you create to the people you want to work with.
• Everyone wants to feel like they’re winning.
• When team members feel like their roles serve a greater purpose, the whole company culture shifts.
• And once you recognize team members as experts in their roles, you can encourage their innovation and sense of ownership.
• When you empower team members to solve problems rather than to focus on who was at fault, customer interactions get much better.
• Awareness and mindset are more impactful than specific skills when training team members.

Resources:

Blog: Time Management Strategies For Entrepreneurs (Effective Strategies Only)

Unique Ability®

The 10x Mind Expander by Dan Sullivan

Turning Teams into Heroes and Customers into Raving Fans by Patti Mara

UpSolutions Team Success Program

Blog: What Is A Self-Managing Company®?

Tool: The Positive Focus®

Who Not How by Dan Sullivan and Dr. Benjamin Hardy

Podcast: Team Success

pattimara.com

wechooselocal.com

Entrepreneurs need to be ambitious. But what happens when you achieve your ambition? In this episode, Dan Sullivan and Shannon Waller explain the drawbacks of having ambition as a destination and describe the incredible benefits you can expect when you see ambition as a capability.

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

• Why Dan sees ambition as an internal capability.
• Measurements you should be making every day.
• What’s made Dan’s life simpler over time.
• How Dan gifts Strategic Coach® members extra years to their entrepreneurial lives.
• What you need to avoid to be continually ambitious, and why.

Show Notes:

• Ambition is a capability, not a destination.
• Simply by continually improving your ambition each day, you’ll experience exponential growth over time.
• Dan Sullivan feels more ambitious at 80 than he did at 50.
• To strengthen your ambition, it’s important to measure your daily accomplishments and strive for continal growth.
• You can measure your progress not just in achievements, but in the ability to accomplish more in less time with greater impact.
• Ambition itself should be measured in terms of increased capability and confidence.
• Simplifying life by eliminating distractions (like television) can reclaim valuable time for personal development and ambitious pursuits.
• Surrounding yourself with growth-oriented individuals, often younger, can inspire and fuel your ambition.
• To be continually ambitious, there are three things you should avoid: celebrity, retirement, and legacy.
• It’s important to focus on being useful and impactful in the present rather than worrying about future legacy.
• Viewing ambition as a capability can also help you feel more fulfilled personally—and have a greater impact on your community.
• Every day, ask yourself what you can do so that you’re more ambitious tomorrow.
• Being around people who aren’t invested in growth is an obstacle to your ambition.

Resources:

CliftonStrengths®

Who Not How by Dan Sullivan and Dr. Benjamin Hardy