In this episode, we are joined by Josh Patrick, the founding principal of Stage 2 Planning Partners, a certified financial planner, serial entrepreneur and author of Sustainable: A Fable About Creating a Personally and Economically Sustainable Business. Josh shares about his background in the field, making every mistake in the book and the approach he has learned to take when it comes to dealing with the mistakes of others.
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For him, accepting personal responsibility is a key value in their business because it stops blame-shifting and excuses dead in their tracks. We have an in-depth discussion about delegation, why it is crucial for any business owner who aspires to scale and the real reason why it is inherently difficult for us human beings to do. Another highlight from this conversation is Josh’s explanation for why business owners need to remove themselves from day-to-day operations to some extent, a point of discussion with tons of wisdom to it. In the end, it’s about creating a sell-ready business, even if you don’t want to sell. Be sure to tune in for all of this and more!
Key Points From This Episode:
- Josh’s background in the business and the important thing he learned about mistakes.
- How establishing values and clarifying them helps you to get great employees.
- Why Josh enjoys working with blue-collar businesses and what their common mistakes are.
- A few solid guidelines for getting delegation right and why people struggle in this area.
- The powerful effect of the ‘what would happen if…’ question.
- What you can do to create a cashflow positive business.
- Knowing which tasks to delegate and removing yourself from the day-to-day operations.
- Learning by trial and error and why you must learn to delegate in order to grow.
- The detrimental consequence of reacting badly to employees’ mistakes.
- The importance of young business owners being in mastermind groups.
- Why he likes to give back by helping other businesses to succeed.
- And much more!
[bctt tweet=”Delegation is not a natural act because we as human beings are not naturally trusting. — @AskJoshPatrick” username=”Whitney_Sewell”]
Links Mentioned in Today’s Episode:
About Josh Patrick
Josh Patrick is a serial entrepreneur. He started working full time in the business world at 23 years old with a part time employees. Twenty years later he sold his company after it had grown to one with four branch operations and 90 employees. Since that time he has been involved in the world of wealth management as well as helping blue collar private business owners create businesses that are economically and personally sustainable. He has been a blogger for the NY Times, Inc.com, Forbes.com, and the Huffington Post. He is also the author of Sustainable: A Fable About Creating a Personally and Economically Sustainable Business. If you need more than this, please let me know. Headshot is attached.
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