James Webster is the founder and Executive Chairman of ROK Financial, and co-chairman of the SBFA. He and his team have helped business owners obtain more than a billion dollars in financing.
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Guest Resource
ROK Financial – Small Business Funding.
3 Value Bombs
1) Team is everything and without it , you don’t have a business.
2) Staying in tune with your competitors is crucial and is something that can keep you in the business, grow your business and maintain where you are in the industry.
3) Work hard, do the right thing and success will follow.
Sponsor
HubSpot: Get ready for growth, without the growing pains! Visit HubSpot.com/spotlight to see the dozens of major product updates that’ll make impossible growth feel impossibly easy!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: Scaling your Operation – How to Build and Maintain a Multi-Million Dollar Operation
[1:32] – James shares something that he believes about becoming successful that most people disagree with.
- When you are successful, you will lose people around you and it is okay because they might not be the right people to be around you.
[3:36] – James talks about the strategies and ideologies that are needed in order to measure both success and failures.
- He measures the success of his company by looking at the happiness of his team. He wants his company to be a place where people enjoy working. The turnover rate is also a good way to measure the success and failures of the company.
[5:28] – James talks about how important is the team to overall success.
- Team is everything and without it , you don’t have a business.
- Keep you team tight and hiring a consultant specialist in doing this will be useful.
[7:15] – James talks about how crucial it is to be versatile or flexible in business.
- A significant initiative takes 6-8 months to see a success that is why it is crucial to be flexible. The team should see the vision and stick to it and must also be flexible to pivot if there are other options or adjustments in the vision. It is an act of being balance in the business.
[10:08] – A timeout to thank our sponsor!
- HubSpot: Get ready for growth, without the growing pains! Visit HubSpot.com/spotlight to see the dozens of major product updates that’ll make impossible growth feel impossibly easy!
[13:47] – James talks about how technology plays into ROI.
- Technology is very important and must be use in business. He spends time and money in new technology and has a team working on it. He believes in doing more with less.
- All the technology that they implement helps them to stay in the game or to increase and scale their business.
- It is important to know what is the right technology in your business.
[17:04] – James tells why he believes we need to monitor our competition closely.
- It is important to know what your competitors are doing. Knowing what they are speaking with the audience, the services they are offering and their pricing so you can have a comparison.
- You can utilize the social media, emails and websites to monitor your competitors.
- Industry conferences can also be a good way to communicate and build relationship with your competitors.
- Staying in tune with your competitors is crucial and is something that can keep you in the business, grow your business and maintain where you are in the industry.
[20:16] – James talks about the process of how he has grown his business.
- Strong brands, effective marketing strategies , re-investing back into the business, knowing your market, industry and competition, a very strong operational team , efficient processes and team which is the backbone and driving force of the company makes a business grow.
- His philosophy “work hard, do the right thing and success will follow” is the core part of what they believe and do in the business.
[20:32] – James gives his one key takeaway.
- Great success in only going to come from working hard. Your team is everything and the way to have a team is to be genuine to your own core beliefs and to the team. Be ready to support and give them the ability to learn and grow.
[21:08] – Call to action.
- ROK Financial – Small Business Funding.
[21:48] – Thank you to our Sponsor!
- HubSpot: Get ready for growth, without the growing pains! Visit HubSpot.com/spotlight to see the dozens of major product updates that’ll make impossible growth feel impossibly easy!
Killer Resources!
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
2) Free Podcast Course: Learn from JLD how to create and launch your podcast!
3) Podcasters’ Paradise: The #1 podcasting community in the world!
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