What we discussed in the epsisode:

THE PULLING PROFITS BOOK (1:18) 
  • It is Brad’s 17th book to be published. His previous books were bestsellers on the Wall Street Journal and Amazon.
  • It takes time to be successful in anything.
  • It came because of a conversation on the difference between a company that grows profit exponentially, and one that doesn’t.
  • Together with his co-author, they came up with five core disciplines that a business needs to understand.
THE BIGGEST MISTAKES IN SETTING UP BUSINESS FOUNDATIONS (3:47)
  • Small businesses’ biggest mistake is looking to have a business that revolves around them.
  • Big businesses’ biggest mistake, on the other hand, is focusing on one thing rather than dwelling on the five key areas.
THE FIVE DISCIPLINES OF PULLING PROFITS (4:41) 
  • First is the discipline of strategy. How is the business designed to grow?
  • Second is the discipline of mission. It is about the emotional connection between the staff and the company, as well as the team and customers.
  • The third discipline, the discipline of business development, is the key to generating sales.
  • Fourth is the discipline of execution, which sets up the success of the business.
  • And finally, the discipline of people. The quality of your people determines the quality of the business.
CREATING LEVERAGE (7:39) 
  • The first stage of leverage is doing the work once you get paid long-term.
  • The best business owner or the best corporate executive is someone who does work on time that pays back.
  • Training your people brings customers who stay long-term.
ACTIONCOACH (10:21) 
  • The core of investing is real estate and shares. Brad had to pioneer a new industry—the concept of business coaching, which started ActionCOACH—to come up with something new.
  • Millennials have the most entrepreneurial mindset.
  • There is a shift in developing small businesses and a less corporate environment.
  • Everyone is a billionaire in training. The question is: will you pass?
  • In determining the success of the business, you go through the five disciplines in mind.
  • Strategy always comes first because if there’s a fundamental core business model problem, then it doesn’t matter what you do with marketing and other things.
  • There is a system for growing a business.
THE DIFFERENCE BETWEEN STRATEGY AND TACTIC (17:49) 
  • A strategy is about your business model strategy. It is more about the product or service.
  • Apple creating leverage in different industries is an excellent example of a strategy.
  • Marketing campaigns, on the other hand, is an example of a business tactic.
THE GOAL OF PULLING PROFITS (20:29) 
  • Brad’s plan behind every book is to build a model that people can understand and use.
  • The time spent on thinking, learning, contemplating on brainstorming, and planning your business is way more important than the actual written document.
  • Dream, goal, learn, plan, act.

This week guest

Check out Brad’s website to know more about the fantastic things he does. To learn more about business coaching, visit the ActionCOACH website. Connect with Brad on his Facebook page and through LinkedIn.

As always, thank you for listening!

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    Kim Barrett is a world renown Social Media Marketer, focussing on Facebook. He Is an International Best Selling Author, Speaker and Trainer, having taught marketing around the world and helping businesses grow to 6 and 7 figures.