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How to Grow Your Business by Replacing Yourself

How to Grow Your Business by Replacing Yourself

6 quick tips on How to Grow Your Business company by Replacing Yourself Patrick Bet-David from Valuetainment video explain guide. Wys Seo agency is an internet marketing service that can help with advertising.

Video Transcript:

00:00 organizations and companies that scale
00:02 for very long time and stay relevant for
00:05 very long time understand the art of
00:08 replacement game now what do I mean by
00:10 the replacement game look the Lakers had
00:12 to find a way to replace Kobe because
00:14 they were irrelevant for three years
00:16 ever since he retired and they brought
00:18 LeBron James right you look at college
00:20 football teams I had people earlier here
00:22 from Omaha Nebraska talking about the
00:24 last time we were relevant was what 1997
00:27 because they made a mistake on the
00:29 replacement game this is the point you
00:30 hear as important as you and I think we
00:33 are as important as we think oh my gosh
00:36 I am so important because without me
00:39 nothing would ever happen that’s when a
00:41 value of a company stays small Microsoft
00:44 CEO and founder Bill Gates realized June
00:47 27 of 2008 that he needed to be replaced
00:51 and he stepped down as a CEO and new
00:53 CEOs came up and Microsoft about to be
00:56 the number three trillion dollar company
00:58 ever so today in this episode we’re
00:59 gonna talk about the replacement game
01:05 look one of hardest things have to
01:07 overcome as a founder and a seal was the
01:09 fact that Pat the more you matter the
01:12 less the company’s worth let me say this
01:13 one more time the more I matter the less
01:16 your company’s worth so if you matter
01:18 this much the company’s values here if
01:20 you matter less the company’s values
01:22 here why because you’ve replaced
01:23 yourself look this system in America and
01:26 many other countries is presidents get
01:28 replaced if I were to ask you right now
01:30 tell me who is the first president in
01:32 the history of America you may say
01:33 George Washington now what if I ask you
01:35 who was a seventh you’re stuck what if I
01:38 tell you 16th Abraham Lincoln who was
01:41 the 19th I don’t know what’s the point
01:43 the 19th president mattered during that
01:47 time but the most important president in
01:49 America today is the one that’s the
01:51 current president which is Trump prior
01:53 to was Obama prior to miss you get the
01:55 idea everything that Gross must be a
01:58 replacement this is scientific parents
02:00 have kids kids replace parents their
02:02 legacy the grand father’s grandparents
02:05 played the role of advisors to the
02:06 parents on how to deal with their kids
02:08 and what the kids are upset at parents
02:09 they call grandparents this is a
02:11 scientific model of replacement one day
02:13 you and
02:13 gonna die and we’re gonna be gone and
02:15 the only people that come to our funeral
02:16 to people that matter to us and then
02:18 it’s gone Steve Jobs died many many
02:20 years ago many many years ago Apple
02:22 became a trillion-dollar company because
02:23 it’s a replacement game so the formula I
02:26 want to give you six things you need to
02:27 be thinking about when it comes down to
02:29 replacing yourself number one okay so
02:32 the first thing you got to do is you got
02:33 to make a list of all your tasks and
02:35 skills that you have so you say well I
02:38 make phone calls well I’m handling
02:40 finances I’m doing payroll I’m doing
02:41 this I’m doing that I’m doing this which
02:44 one of those tasks or skill sets are the
02:47 ones that you are the best at and which
02:49 ones are not the ones that are not you
02:52 need to replace yourself in that area
02:54 and get your time focused in the areas
02:57 that are your strengths the more you do
02:59 things that are tasks that are not your
03:01 strengths the value the company goes
03:02 lower that is one of the things you got
03:04 to do to replace yourself number two you
03:06 know the next thing you gotta do is you
03:07 got to figure out the list of people
03:09 that you have on your team what is their
03:10 seasons for instance we just hired
03:12 somebody here six months ago she got
03:15 hired for nine to 12 months she knows
03:18 about it this isn’t like it’s gonna be
03:19 surprised surprised you’re fired not at
03:22 all she knew she’s coming for nine or
03:23 twelve months what’s her job her job is
03:25 to get all the protocols procedures
03:27 systems of every single department so
03:30 she goes one by one by one interviewing
03:32 every single employee just hired eight
03:34 employees this week she interviews every
03:36 supervisor every employee on what do you
03:39 do next so after you do this then what
03:41 do you do then what do you do then what
03:42 do you do what then what’d he do and she
03:43 creates a stack of a hundred pages of
03:45 every single procedure for that
03:47 department and gives it to us that right
03:49 there is worth millions of dollars to
03:51 the business because and now we can have
03:53 anybody that comes in and put them
03:55 through the system to learn those
03:56 protocols but she knows her role is a
03:58 nine to twelve month you may have
04:00 somebody else’s role as CEO maybe a six
04:02 year old an eight year old maybe a CFOs
04:04 role maybe a five year old a six year
04:06 old to go through a part of going public
04:07 and you need to bring another person to
04:09 replace that knows how to handle a
04:10 bigger company
04:11 maybe compliance may be a ten year old
04:13 mate but you were figured I’m by the way
04:15 some people may do thirty years or 40
04:17 years lifetime but you can’t assume that
04:19 everybody is gonna be there forever
04:21 because some seasons are different and
04:24 which ones are replaceable now and is it
04:27 9-month replacement 1 year 5 year 10
04:30 year 20 or what is it time it so you
04:32 never surprise when somebody needs to be
04:34 replaced number 3 so now here’s the
04:35 other part so he said what I just talked
04:37 about what replacement is I’m talking
04:39 replacing home office staff let me talk
04:41 about sales here replacing sales leaders
04:44 a great sales leader is always replacing
04:47 himself or herself by replicating
04:49 herself or himself with new sales
04:51 leaders ok so for instance I’m Mary I
04:54 develop Bobby Bobby now learns how to
04:57 sell and lead his organization of 10
05:00 salespeople in his office in Nebraska
05:02 hypothetically he is a sales leader
05:05 there now I have to go back and develop
05:07 the next person and the next person and
05:09 the next person this could mean a call
05:11 center this could be a sales
05:12 organization this could be an online
05:14 internet digital marketing cell it
05:16 doesn’t matter support home office has a
05:19 lifespan on how long they stay not
05:22 always is it going to be as long as a
05:24 salesperson based on the system you run
05:26 a great salesperson based on a system
05:28 that lasts that’s replicatable kid last
05:30 3040 years and somebody that supported
05:33 maybe 6 12 months or maybe 2 or 3 years
05:35 number 4 maybe you’ve heard the stat
05:37 before that 70% of Fortune 500 companies
05:39 from 1960 are no longer around so
05:43 somebody may say well Pat they’re no
05:44 longer around because some of those
05:46 products are just not being used anymore
05:48 today so they’re extinct they’re gone
05:50 fair enough but let me make the other
05:52 point you some of them are not around
05:54 because of the replacement game not
05:56 being efficient here’s why because
05:58 culturally who replaces you has to fit
06:02 the culture so for example imagine if
06:04 the organization’s been built and
06:06 they’re used to such and such culture
06:08 that you’ve built based on your values
06:10 principles all this other stuff then all
06:12 of a sudden somebody else comes in that
06:14 doesn’t fit this culture that doesn’t
06:17 know what this culture is that like a
06:18 Scully he did great at Pepsi he didn’t
06:21 fit at Apple when he came through
06:22 why culturally it was not a fit this has
06:25 happened at so many different companies
06:27 before Home Depot did this as well
06:29 culture matters so much so when you are
06:31 finding a way to replace people at
06:33 higher positions of yourself you got to
06:36 make sure they have the culture down
06:37 number 5 so remember how earlier I told
06:39 you we had a lady too
06:40 came on board here with us and she’s
06:41 only working for about nine to twelve
06:43 months and she knows about it do you
06:44 also remember when I said what her job
06:46 was to go and figure out from every
06:48 single department what she needs to put
06:49 together for the protocols and systems
06:51 and procedures that’s exactly what you
06:53 got it with your companies well you have
06:55 to take the sheet of pay you either hire
06:56 somebody like her which is expensive or
06:58 you do it yourself and you simply go on
07:00 a board and you say when it comes on to
07:02 our sales flow what does it look like
07:04 actually write it up when it comes down
07:06 to incoming calls what’s the process
07:08 front desk clerk answers then it gets
07:10 filtered to this then we make a note on
07:11 this then in a note section you get
07:13 their names and you say this what’s the
07:15 next thing you do with the script when
07:16 you want to make a sales call first you
07:18 say that’s like for instance next door
07:19 girl here every time I leave she comes
07:21 and asked me question she sells
07:22 pharmaceuticals and I asked her question
07:24 I said so let me ask you a question
07:25 what are the top 25 fa Q’s that come up
07:27 when you sell your products this I don’t
07:28 know what you’re talking about I said go
07:30 to your sales manager and ask him what
07:32 are the frequently asked questions in
07:33 your product you sell she goes to their
07:35 sales manager and she comes back to me
07:37 she says they don’t have any and so what
07:39 kind of a sales place is this that they
07:40 don’t know the top 25 FAQ is being asked
07:42 you got to know it that is a flaw in
07:44 their business that doesn’t replace
07:46 themselves that much because it’s a
07:47 personality driven everything needs to
07:50 be in a manual wood step-by-step process
07:52 of procedures protocol systems so you
07:54 can hand to somebody else and they can
07:56 go do themselves as well and number six
07:58 so last but not least look valuable
08:00 company is dictator based on what kind
08:02 of leaders you have I had a staff
08:03 meeting with our home office team and I
08:04 said look who are you developing as a
08:06 leader give me your next three employees
08:08 that are going to become leaders in the
08:09 company and so what do you mean who are
08:11 you developing why so how do you develop
08:14 a leader it’s a lot of one-on-one
08:15 conversations it’s a lot of private
08:18 conversations it’s a lot of mindset
08:20 conversations it’s a lot of processing
08:22 issues conversations it’s a lot of
08:24 questions back and forth it’s a lot of
08:26 you know pulling things out and so what
08:28 do you think about this or how would you
08:29 do this differently and what do you
08:30 think could have been over here what
08:32 could we have done better in this place
08:33 that mindset it’s being injected into
08:36 your leaders and you’re hoping they take
08:38 that mindset inject into their leaders
08:39 and their leaders and then that becomes
08:41 a mindset that runs the company that
08:44 aspect of mindset replacement is another
08:47 aspect of leadership development which
08:49 increases the value your company so now
08:51 that you watch a video about replacing
08:52 yourself the next video you need
08:54 to watch is the number one video that
08:56 CEOs of multi-million multi-billion
08:58 dollar companies that send me emails
09:00 saying this is by far the best video on
09:03 value taemin but regular entrepreneurs
09:06 salespeople don’t watch this video the
09:07 title of this video is how to strategize
09:09 as an entrepreneur