Hello, CBNation Builders!
As we navigate the thrilling yet challenging world of entrepreneurship, there are key lessons and principles that consistently rise to the forefront, shaping the path to success. After doing over 1600 insightful podcasts with industry leaders, innovators, and startup veterans on the I AM CEO Podcast, I've distilled what I believe were 16 themes or that I heard consistently throughout the podcast. I even made a list of 100s of things I've learned that we added to the I AM CEO Handbook Volume 3. While 16 is my favorite number (see Blue 16 Media), it didn't feel quite complete to have a list of themes.
As, I myself start to go through EOS and the Traction Book and start to look more about business foundations and go back to the business plan and really start to evaluate the core part of business. Looking at CEO Hacks like the Personal MBA even and Harvard Business, Entrepreneur Magazine made me realize the best way is to see further is to “stand on the shoulders of giants.” It's at the heart of why I even started CEO Blog Nation's first site Hearprenur to “Hear from Entrepreneurs.”
So, could I distill these 16 even more? Yes, of course.
As Steve Jobs said, “That's been one of my mantras—focus and simplicity. Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it's worth it in the end because once you get there, you can move mountains”
I came to 7 which signals completion but even that didn't seem right as I tried to merge “technology” under one of the foundation principles. But as, we've had a monthly theme many times “We are a technology company that does…” It was only right that we changed 7 to 8. While it's more than I expected but think it's accurate. It's half of 16 and if you want to know the symbolism of 8 for fun you can Google it or check it out using Perplexity.
These are the core areas every entrepreneur, particularly those in the crucial first five years (the Builders), should master. My journey would have undoubtedly been smoother had I fully grasped these concepts from the start. Now, I'm eager to pass on this blueprint to you, potentially paving the way for an impactful resources designed to elevate Builders to Architects and eventually, to Mogul status.
The reality is that these are pillars but they're not silos, the people you have in place will ultimately affect you financial projection. While the products and services won't be nearly as impactful if your operations aren't in place. Do you feel as if you have most of the pillars in place but you ignore technology, it can completely disrupt your indudstry and your buisness. Maybe you don't fully understand business or entrepreneurship and you throw in the towel because you reach one road block.
That's the challenge in business. However, if you have the right people in place, it can completely change everything, they can execute on a level that helps support all the other aspects in business. Do you really have great financials, it could help give you more runway than your competitors for mistakes, failures or even disruptions in business.
So as I like to say when you are building a media company, things might be simple, but understand it is by no means easy. Sometimes focusing on 1-2 “ingredients” can have the biggest impact, but you just have to figure out what that “one thing” is at the moment. It will test every aspect of who you are as an individual and leader. And the thing is when it's hard and you have challenges, it doesn't mean you are doing it wrong. As I try to highlight on the podcast, it's actually the norm. As much as you build the business, you are also build yourself.
So what are these business pillars:
- People
- Operations
- Strategy
- Product and Service
- Financial
- Visibility
- Technology
- Entrepreneurship
As we shift and pivot our sites and resources, you will find more and more content and information “fit” into these pillars to help support you as a Business Builder.
Here's a little more about the 8 Business Pillars and there's lots more to come:
1. People
First and foremost, your team is your greatest asset. The right mix of talent can innovate, execute, and breathe life into your vision. Invest in hiring individuals who not only have the skills but also share your passion and values. Remember, a strong culture leads to sustained success. Also don't forget that you are also the people you have to maintain so don't forget to “fill up your cup.”
- CEO Hacks: Human Resources & Human Capital
2. Operations
Efficient operations are the engine of your business. Streamlining processes, managing resources effectively, and continually improving workflows are crucial. The ability to deliver with consistency and quality underpins your credibility in the market.
- CEO Hacks: Project Management
3. Strategy
Your roadmap must be clear and agile. A sound strategy involves setting achievable goals, understanding your competition, and adapting to market changes. Regularly revisiting and revising your strategy will keep you aligned with your long-term vision.
- CEO Hacks: Books
4. Product and Service
The heart of what you offer — ensure that your products or services solve real problems and deliver exceptional value. Innovate and evolve as you gather customer feedback and stay ahead of industry trends.
- CEO Hacks: Books
5. Financial
Robust financial management can make or break your venture. Understand your numbers, from cash flow to profit margins. Make informed decisions to fuel growth and ensure sustainability. Remember, financial knowledge empowers you to steer your business with confidence.
- CEO Hack: Financial
6. Visibility
In today’s digital age, how you manage your brand presence is crucial. Effective marketing, advertising and public relations can greatly enhance your reach and reputation. Build a narrative that resonates with your audience and engage them consistently.
- CEO Hack: Marketing, Advertising & PR & Sales
7. Technology
Leverage technology to your advantage. From CEO Hacks like productivity tools and CRM systems to e-commerce platforms and data analytics — the right tech stack can drive efficiency, enhance customer experiences, and open new avenues for growth. Also, don't ignore AI and new technological enhancements.
- CEO Hack: Technology & AI
8. Entrepreneurship & Business
Last but certainly not least, embody the spirit of entrepreneurship and business. Resilience, innovation, leadership, and a willingness to take calculated risks are the hallmarks of a successful entrepreneur. Stay curious, embrace challenges, and be persistent.
As a community of driven and innovative builders, our potential to prosper is boundless, particularly when we support one another and learn together. This distilled wisdom from years of conversations with business leaders could soon evolve into a structured course and other offerings. This educational journey would aim not only to deepen your understanding of these pillars but also to facilitate your transition from working IN your business to working ON your business — moving from a Builder to an Architect and eventually, to a Mogul who shapes the world.
- CEO Hack: Books
Stay tuned, and let’s continue to build not just businesses, but legacies.
Together, we grow stronger and more resilient. Remember, every challenge is an opportunity, and every misstep a lesson. Let’s harness our collective experiences to build a community of successful, impactful leaders driving change across the globe.