TEL 238: Scale: How To Grow Your Business By Working Less with Frank Bria
A summary of things you should know about Scale: How To Grow Your Business By Working Less according to Frank Bria
I like to describe myself as a recovering consultant. I spent the first 20 years of my career doing consulting around the world and realized that it was building up a business model that wasn’t consistent with what I wanted to do with my life. So I took that banking, analytics, and consulting practice and turned it into something where I actually help other consultants who are making the same transition. They realize that they’re in a business that doesn’t scale and I get them to something that is scalable and takes them out of that day to day business.
The Book’s Unique Quality (6:09)
The thing that I really care about is pragmatism. When a lot of people write about these topics they either tell a lot of stories or they remain very theoretical which is nice and you can learn a lot from. But at the end of the day I wanted the reader to close the book and say, “ok, what do I do differently tomorrow?” So at the end of each chapter there are exercises that are evergreen and you can continue to use throughout the scaling of your business. The hope for this book was to create a guide book for someone that is growing a company that they can continue to use as they grow it.
The Best Way To Engage (8:43)
I wrote this book knowing full well that I was putting something together that was very serial. You can pick any of the four sections but I do tell the reader at the beginning to try and approach these things in order.
The Reader’s Takeaway (19:00)
The main piece of information that I want people to understand out of the book is that in order for you to scale you need to change. A lot of people think that if they just keep doing more of what they’re doing today that automatically these things will just happen but it takes energy and effort to scale.
A Deep Dive Into The Book (10:40)
The entire book revolves around the four keys to scale. The first key is concept, so that means having an offer that resonates with an audience. Understanding the customer that you’re selling to, generating customer profiles, and audience segments. A common mistake in marketing is treating each prospect the same when really there are four kinds of prospects and everyone kind of moves through each of these four phases as they’re deciding to buy from you and that means you need to be communicating to them differently. So we dive into these audience segments to understand what they need and how you’re going to message around that need.
The next key to scale is the business model and here we focus on the establishment of diverse recurring stable revenue, which is one of the key revenue areas of a scalable company. Scalable companies do not have really good months and then really bad months, they have a consistent cash flow that comes in. This cash flow comes in in two pieces- one is automated marketing and having a consistent flow of leads and the other is having a business model that supports it.
The next key is market accessibility, as I said, we have to have a constant flow of leads. I have a tool that I like to call the loyalty ladder which is a way for you to construct a marketing automation platform that drives leads, builds relationships and closes sales in a quicker and more lucrative manner.
The last key of scale is processes because you have to take yourself out of your business. I like to call this firing yourself. You have to figure out a way to automate processes and analyze each process and figure out where you fit in and how you take yourself out.
NOTE: That was just a summary. To get the full deep dive, play the audio clip at 10:40
Notable Quotes From The Book (22:14)
“If I can’t replicate what you’re doing then what you’re doing has no value to me” -Frank Bria
The Credibility/Inspiration Of The Author (3:30)
The inspiration comes from my own personal experience with this. The book starts out with the personal pain of being in a business that does not scale. It really hit me when I was on a business trip and it was the third stop of a long business trip and I woke up in the morning and had a text message from my wife. She had driven herself to the hospital in the middle of the night and was going to be admitted for emergency surgery. I have older kids that can be home for hours by themselves but now they were going to be alone for days by themselves and I was half way around the world. It took me three days to get back home and I spent those days thinking about what it was that I had created and I had created something that was all about me and hadn’t built the legacy or the business that would create the lifestyle that I wanted to live. It took me a long time to actually piece together what it would require from me to make that change to live the life I wanted to live. I learned a lot of things along the way and I wanted to share that with people because I feel like I did a lot of these things the hard way.
Other Books Recommended By The Author (23:48)
Book Yourself Solid by Michael Port
More Information About This Book and The Author (23:48)
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More Information About This Episode
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