We know that this is a difficult time for many businesses and entrepreneurs, but this period also allows space for reflection and room to pivot if necessary. Joining us to share his insights on how to scale up during this moment of uncertainty is a friend of the show, Rahul Patel. As a successful lawyer and business owner, Rahul understands the work that goes into sustainably scaling your company. We kick off the episode by discussing why you should be using this time to take a look at your business plan or create one if you haven’t yet.
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Sometimes there are goals we set on the plan that we have not achieved, and that’s OK. What’s important is taking stock and seeing how you can get back on course to achieving your targets. We then discuss identifying strengths and weaknesses and creating a team to accommodate for them. Rahul does not believe you should only delegate your weaknesses away, but rather that you should hire experts and learn what you need to know from them. After this, we talk about motivation, what fosters it, and what kills it. Along with this, Rahul shares tips on how to let people go, why transparency is a key trait as a leader, and how to avoid entrepreneur fatigue. Be sure to tune in today!
Key Points From This Episode:
- Hear more about Rahul’s background and some of his incredible accolades.
- The importance of writing down your business plan to help you with accountability.
- This is a great time to go back to your business plan and see what has and has not worked.
- Some key things to include in your business plan, including tiered goals and your ‘why.’
- Why Rahul believes it’s crucial for entrepreneurs to identify their strengths and weaknesses.
- You have to partner with people who have different strengths than you.
- How Rahul structures his team and the role that transparency plays.
- Rahul’s take on motivation and why it’s important to let employees have autonomy.
- Hear Rahul’s tips on letting someone go: Be specific and give the rest of the team space to question.
- Find an evaluation method that works for you.
- Entrepreneur fatigue is real — Remember to take time to recharge and look after yourself.
- How Rahul likes to give back.
[bctt tweet=”There’s got to be a substantive ‘why’ to your business model that’s beyond the returns that is able to sustain you when you’re not making money or it’s going to take some time. — Rahul B. Patel” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Rahul Patel
As Managing Partner of the Fifth Fastest Growing Law Firm in the nation, Rahul B. Patel has a flair for delivering simplicity and superior client service. Over the last decade, he has developed a reputation for his innovative approach to commercial real estate and property tax litigation where he currently represents over $8.5 billion in commercial property. Not only does Rahul lead the Patel Gaines team, but he is also a certified NBPA Agent, and a guest speaker for multiple organizations. Rahul has been featured in The San Antonio Business Journal’s as a C-Suite Executive Awardee, 40 Under 40, the Outstanding Lawyers list, and was their Man of the Year. He has also been featured in USA Today, BusinessWeek, Texas Lawyer and more.
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