Business owners often wonder what the secret to success is in starting a profitable business. Today you’ll be in on the secrets and the most essential tactics for building your way to success in your business.
I’m very excited to have this episode with Mark Bouris. If you don’t know him, Mark is the host of The Celebrity Apprentice show. He is the chairman of Yellow Brick Road, and he also hosts a podcast called Mentored. Now, he is also a keynote speaker at Certified Ballers Live. With his vast array of experience, he’s a fantastic person to learn from when it comes to success.
You’ll surely learn a lot about the steps to success, and how, like Mark has created his own playbook to success, it is possible for you too. Check these show highlights and tune in to the show!
Starting Out In The Business (02:44)
● The first time he got a taste for business was at school.
● He developed a product, market-tested it, and made sales.
● Mark is originally best known for his Wizard Home Loans business.
● He started as a property developer. They were struggling to get funding for small properties and developments they had to build.
● Meeting with the mortgage brokers who got the funding for them ignited his spark of interest in getting into the business.
● His specialized capital markets degree became valuable for him in running Wizard.
The Biggest Obstacles of Entrepreneurs (09:14)
● Most business owners don’t run the business in any form of structure. Not by the legal structure means, but they don’t have structured meetings, and everything they do is a little day-to-day effort.
● There is no discipline. Despite turning to work and working hard on what they do, they don’t have formal regulations in the business.
● You have to tend and be at the centre of the ten most essential things in business on a repetitive rhythm.
● People should not run businesses. People should be implementing the disciplines and structures and rhythms that run the business.
● Businesses should have a playbook, which determines the rhythm of what teams do in the game. You, as the manager or the CEO, have a role in managing that playbook.
Developing a Playbook for Success (12:22)
● The playbook was developed through a series of mistakes and tips from successful people.
● It is ten fundamentals that you must have in the rhythm of the business compiled in 10 chapters.
● Mark articulated concepts that he wanted to impose over his business and which might seem essential as an investor.
● The key is putting it into a simple language that has a logical and understandable format.
Winning the Game (14:24)
● It’s challenging to invent processes and systems that have proven to work. What you’ve got to do to build up your business is to make sure that your product works.
● It’s another thing to become an expert in the business rhythm.
● When you’re starting, it’s better to borrow a business rhythm that works.
Pushing Through (16:42)
● Getting away from the tall poppy syndrome is logic versus emotion.
● Soft skills are essential in the business between you and customers, suppliers, and staff. But you need to know when to employ those emotions for you and when not to use them against you.
● Recognize every emotion.
● The more often you get built around, the more resilient you become. The combination of logic and resilience allows you to get on with it.
● You have to recognize that through logic, certain things are always going to come your way no matter how you try to deal with them. And so, you need to keep getting on with it.
Not Everybody Is An Entrepreneur (19:44)
● If you want to be a business person, you need to have soft skills, and you need to be able to deal with and handle certain emotions.
● There are several upsides and downsides for either working for somebody or yourself, make a decision about which one you want to do.
● The digitization of business is essential–from marketing to advertising, to imagery.
● Use digital methodologies to run as many parts of your business as you possibly can to free up your time in terms of managing those processes. With this, you can get on with the real part of the business which is making sales and making sure that everything in your expenses is in the right territory.
● Australians spend one in every five minutes on social media.
● If you’re a business owner, you’ve got to be able to share your story so that people can connect with you and know what you’re about and who you are. They’ll be buying into that much faster.
Certified Ballers Live 2020 (29:09)
● At the event, Mark is going to explain what rhythm means and how it works in businesses, as well as how can people employ and use it.
● He’s also going to go through the chapters of the playbook and explain it for people to find out exactly what he’s doing.
Connect with Mark on his Facebook page and through his LinkedIn profile. You can also tune in to his podcast, Mentored. To know more about Mark’s Success Playbook, check it out here. If you enjoyed today’s conversation with Mark, he will be joining us as one of the keynote speakers at the upcoming Certified Ballers Live event. Grab your tickets now!
Thanks a lot for tuning in!