Last episode, we discussed the first four stages of the Seven Stages of Business Ownership and the treadmill effect that traps many entrepreneurs. Today, we’re exploring Stages Four through Seven, which give you real freedom IN your business, not from it. Will also reveal why almost all business owners get stuck in Stage Four and won't take the small, measured risks to get that freedom.

Everything rests on "The Big Mindset Shift", and when business owners make this shift, they invariably build a business that regularly gives them both time and money, and a life of significance.

• Stage Five: Success is the first Stage the produces time for the owner, not just money. It is the first Stage where we experience true freedom IN our businesses, by moving from producing to building simple processes that let others produce for us.
• Stage Six: Significance gives us abundant time and money from our businesses by focusing on training others to lead, and then leading THROUGH them. Stage Six is the second most dangerous Stage behind Stage Four, because we have a tendency to want to go play golf before our leaders are fully in trained and in charge.
• Stage Seven: Succession isn't about selling, but about becoming "The Myth", where your business runs smoothly under capable leaders, with you providing vision and occasional guidance, many times without any day to day involvement. When people build Stage Seven businesses, they never want to sell them.

Moving from Stage Four to Seven is all about The Big Mindset Shift, and a simple principle, "You get what you intend, not what you hope for."

On average, business owners work 55 hours per week, take very few vacations and do business while there. Most of us are working relentlessly, always hoping that we'll some how get to a new level next year and begin to reap some personal rewards from our business. But we don't even know what "level" we're on, let alone what it would take to get to the next one.

In this podcast we discuss the Seven Stages of Business Ownership, and how the first four of these got us on the treadmill, and specifically what we need to do at every stage to get to the next one. Stage Four is the "American Dream". Or is it? We'll find out that it's not what we all cracked it up to be, and why Stage Five is the minimum we want to shoot for.

In this episode of the Get Off The Treadmill podcast, host Chuck Blakeman sits down with Scott Graves, co-founder and CEO of Alignment Financial Advisors, to dive deep into Chapter 3 of Chuck’s acclaimed book, Making Money Is Killing Your Business. This chapter, "The Way Off the Business Treadmill," offers a transformative blueprint for shifting from business overwhelm to a life of balance and fulfillment.

Scott Graves, whose journey from public school band teacher to successful financial advisor serving over 1,500 households, reveals how Chuck’s insights have reshaped his approach to business.

Key Takeaways:

• Structured Approach: Learn how Scott used the chapter’s strategies to streamline his decision-making process, easing the strain of managing his business.
• Growth Stages: Scott highlights how understanding the outlined business growth stages gave him clarity on his current position and future aspirations.
• Mindset Shift: Hear about Scott’s epiphany regarding the importance of intentional planning and setting clear goals to ensure the business serves him, rather than the other way around.
• Balancing Act: Scott shares practical advice on achieving a harmonious balance between financial success and personal time, emphasizing that it’s indeed possible with persistence and a solid support network.

Check our special offer for the Making Money is Killing Your Business: https://bit.ly/m/3to5Club

The SBA tells us 50% of businesses fail in five years, but my experience is only about 1% (or less) actually fail due to outside circumstances. The other 49% experience something that was entirely avoidable. If you ask small business owners why they might go out of business, they will tell you they need a loan, or the market is just collapsing, the economy sucks, they can't find good people, or the competition is burying them.

We'll show you owners who have thrived in the face of all these obstacles because they avoided the one thing that actually will put you out of business. Circumstances don't make me who I am. How I respond to them does. This one response makes all the difference.

Check our special offer for the Making Money is Killing Your Business: https://bit.ly/m/3to5Club

Today’s guest is Liz Daeninck, founder of Valentis Wellness, which focuses on creating customized nutrition plans tailored to individual health challenges and life circumstances. Liz's expertise lies in understanding the body's responses to movement and diet, particularly for those dealing with obesity, diabetes, high cholesterol, irritable bowel syndrome, and other chronic issues. She also works with individuals who have undergone or are planning weight loss surgery, aiming to support their health improvements.

In our conversation, Liz shares insights from a class she took called Fast Track, which helps business owners step away from the traditional sales approach. Instead of pushing sales, the course emphasizes building meaningful connections. Liz discusses the "Three Cs" approach: Connections, Conversations, and Clients.

1. Connections: Liz highlights the importance of making initial connections with potential referral sources, such as physicians and therapists. She notes that while starting with doctors seemed logical, it was often more effective to connect with other office staff or related professionals who spend more time with patients. This approach also led her to other valuable referral sources like physical therapists and psychologists.
2. Conversations: Liz explains that having meaningful conversations with potential clients is crucial. In her field, it's essential to determine if someone is ready to make a change before engaging deeply. She emphasizes asking questions and letting clients share their stories, which not only helps understand their needs but also significantly improves the likelihood of closing deals.
3. Clients: Once clients are onboard, Liz focuses on converting them into advocates who can refer others. She underscores the value of asking clients for referrals, especially after a successful engagement. She also notes that current clients who refer others are often motivated by a desire to affirm their own decisions.

Liz’s advice is to be proactive in reaching out and to keep refining your connections strategy based on what works best for your business. She stresses that persistence and flexibility are key, and the process of trial and error can lead to discovering effective new referral sources and strategies.

Check our special offer for the Making Money is Killing Your Business: https://bit.ly/m/3to5Club

Instead of separating the "strategic" and the "tactical", or the "long-term" vs. the "short-term", we need to see how to use every activity in our business to do both, and the better we get at this, the faster our business will grow up and make money when we're not there.

This podcast gives multiple examples of business owners who weren't dual tracking, started doing it, and saw their businesses not only grow, but give them freedom while they were growing. Business owners who are buried in the day-to-day and think strategic "stuff" is something you do once a month (or less), will stay on the treadmill. Those that learn to apply Dual Tracking will thrive, grow, and gain freedom IN their businesses.

Check our special offer for the Making Money is Killing Your Business: https://bit.ly/m/3to5Club

Jeff's journey is a compelling one. After a decade in the insurance industry with Century Insurance, he followed his passion by purchasing an independent insurance agency in Littleton, Colorado, creating Security-First Insurance. Jeff’s story is a testament to the highs and lows of entrepreneurship—the thrilling startup phase, the grueling early years, and the eventual realization that ownership wasn't all he had hoped for.

In this episode, Jeff and I delve into the concept of Business Maturity Date (BMD)—a goal for achieving a business that provides both financial rewards and personal freedom. Jeff shares his experience of transitioning from a hands-on operator to a leader who could step back and enjoy life more fully. We discuss the importance of setting a BMD, overcoming self-doubt, and creating a supportive business culture.

Check our special offer for the Making Money is Killing Your Business: https://bit.ly/m/3to5Club

Being wealthy or rich are vastly different things. Many, if not most people who are rich live in unimaginable poverty when it comes to free time. We pursue money because we think it will give us freedom, but freedom in our business is not a function of how much money the business is making.

In this podcast we will talk about the difference between being rich and wealth, and how one can lead to being a hostage and to having a JOB, and the other leads us to FREEDOM in our business. We’ll give you the Significance Formula to show with Utter Clarity the very few resources we need to live a life of significance, get off the treadmill, and get back to the passion that brought us into business in the first place.

Check our special offer for the Making Money is Killing Your Business: https://bit.ly/m/3to5Club