Oct. 6, 2025
Make sure you cover these five steps
This week's Powerful Business Strategies segment with Michael Barbarita of Next Step CFO is The Five Steps every business owner should take if they are going to properly implement business and financial strategies that their competition isn’t doing.
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Hi, you have done to censure?
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Wow, crazy young.
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This is the pipe Man here on the Adventures of
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Pipe Man W four c Y Radio with our special
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Positively Pipeman segment with our expert guest on some powerful
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business strategies. Let's welcome to the show. Michael Barbarita.
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How are you fantastic?
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Dan?
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Thanks for having me.
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How you doing I'm doing great. I'm especially doing great
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because I want to learn today what the five steps
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are that I have to cover to be successful in business.
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Well, as you know, you know, I hope everybody could
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tell that I'm very passionate about what I do. And
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you know I have a fifteen minute segment, but I
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can go on for days, days and days.
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But here's the thing.
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You see, whether you work with me or someone else,
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there are five critical steps that you must take in
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order to implement business and financial strategies that your competition
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isn't doing. And the first step is clarity. So what
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I mean by that is, before you can start to
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do tactical things, you have to strategically understand why am
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I doing this, where am I headed? And what does
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success look like for me? But not in your business,
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in your life. Dean I've seen this mistake happen over
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and over and over again, and it might be happening
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to some of your listeners right now, where they're so
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excited to make their impact in the world that they
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jump out there and they create this business and that
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all of a sudden they're fitting their life around this
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business thing they created. But the way it should work
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is that you first create the life you want and
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then you let the business, which is the asset, serve
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you allowing you to get to that life.
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Does that make sense, Oh, that makes a lot of sense.
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Well, that's yeah, that's clarity. So once you have clarity,
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the second step is a step by step roadmap. For example,
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and let me just give you an example of one
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strategy that I'll give you the roadmap too. So the
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step by step roadmap to a risk reversal is, first,
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you need to identify who the customer is. Second, we
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have to identify the problem the customer has. Third, we
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have to come up with a solution to that problem,
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our unique solution. Fourth, we have to test the problem
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and solution to make sure we get it right. And
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then fifth we have to create a risk reversal to
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make our offer compelling, but you know, you have to
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also understand what a risk reversal is and what it is,
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and the essence of a risk reversal is to eliminate
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or reduce the customer's perceived risk, making it easier for
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them to say yes, zeer. So that's step two. And
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by the way, that's for any strategy that you're gonna implement.
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You need a step by step roadmap. So number one
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is yeah, Number one is clarity, So you first need clarity.
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Second is the step by step roadmap. And the third
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thing is you have to upgrade your skills. You know,
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some people might be wondering things like, you know, can
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I really implement business and financial strategies that my competition
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isn't doing well? You know, before I implemented things like
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the ski guarantee, because sometimes what happens is is you're
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already doing something. For example, before I implement implemented my
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ski guarantee, where it was ski the ski three times,
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you don't like it, bring it back for a brand
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new pair, and keep bringing it back until you get
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it right. That helped me grow my business from two
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and a half million to eight million in five years.
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Before I implemented that ski guarantee. If we sold a
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pair of skis to the to a customer and they
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came back into the store saying that these skis weren't
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right for them, guess what we did. We gave them
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a new pair of skis, no question to ask. All
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I did was put the was put the ski guarantee
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into my offer to make my offer more compelling.
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I'm gonna do it anyway. So that's part of a
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skills upgrade.
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It's, you know, some of these things that you know
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because people wonder if they can do it, they can
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implement strategies or not. Sometimes it's just a review of
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what you've been doing and right. You know, we do
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that because I said to myself, you know, we do
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this anyway. My employees were going crazy when I talked
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about this, because they had visions a thousands of pair
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of skis coming back and the customer putting one over
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on us and all that.
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But we were doing it anyway. We just advertise it.
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We figured we now put it in our offer to
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make our offer more compelling, because we're gonna do it anyway, and.
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As long as we trust that the customer just wanted
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a great.
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Ski experience and didn't want to put one over on
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the retailer, which was ninety nine point nine nine percent
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of them. That's that we did it, and that and
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that's part of a skills upgrade.
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I love that too. Like, So, first of all, going
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back to the clarity, I don't think you can accomplish
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anything without clarity. I'm also a big believer that your office,
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your work environment, whatever it is, has to have now
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clutter because clutter creates non clarity. So that's all part
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of it too. And yes, how do you know how
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to get somewhere if you don't have the roadmap? You know,
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you have to like you can't just figure it out,
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how thin air? You need the roadmap. And then something
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as simple as you just talked about. I mean when
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people you say an upgrade or you know, skills upgrade, Ye,
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a skills upgrade. You know, basically people are thinking, oh,
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am I going to have to take a class? Am
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I going to have to do this? You know, something
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as simple as offering something that you already are offering,
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but making it look like a bonus. That's brilliant.
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Yeah, And that's that's and that's really that's just part
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of a skills upgrade, you know, just to understand what
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you're doing now and how you can incorporate into an
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offer that makes it compelling. I mean, well, because just
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about every business owner I work with Dean and every
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business owner that I actually know, kids deeply about the
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customer experience. They actually care deeply about it, sure, and
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so then so they're doing a lot of things right
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now that are enhancing the customer experience, but they're not
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incorporating it in their offer.
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And that's part of the skills upgrade.
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There you go.
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That's so it's clarity. Step one, step by step road map.
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Step two, upgrade your skills. Step three, step four is
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mastering your psychology. You know, what it took to start
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your business and what it takes to grow your business
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requires a completely different mindset. You know, businesses that go
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from zero to two fifty need a completely different mindset
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to go from two fifty to two million, and then
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another complete mindset shift to go from a million to
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two million, or a million to three million, and so on.
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And the business can't grow unless your mindset grows. I
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like going back to my ski guarantee where I said
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the employee's mindset was thousands of pair of skis are
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gonna come back and we're gonna lose a ton of money.
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But that didn't happen. You need to have the right
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mindset to see things the right way. And that's why
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mindset is really important, because there's a number of ways
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that you can that your mindset can play games with you,
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especially in the selling process, where you absolutely have to
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believe and we're going to talk about this in the
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future show. You absolutely have to believe in your product
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or service and that it's the best option for the customer.
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And that's a mindset shift because all we're thinking about
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is our competitors do the same thing, and the customer
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is really not going to get any value unless we
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drop our drawers and drop our price.
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So but that's for a future show.
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I think mindset is key, totally.
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Yeah, absolutely, because you need to shift. You cannot have
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them between zero and two hundred and fifty and that's
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an arbitrary number that I'm throwing out, but between zero
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and two hundred and fifty thousand dollars, you must have
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a different mindset if you're going to grow beyond that.
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It's just it just has to happen, because if it doesn't,
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you're going to be stuck with a two hundred and
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fifty thousand dollars company.
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Well, and I'm a firm believer in think as if
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you have to think as if you're in a certain group,
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we'll call it to be in that group. You know,
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it's kind of part of it. It's part of the
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roadmap in my opinion.
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Because you're a mind reader. Because step five is optimize
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your environment. So we business owners have saboteurs, I call
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them organizational terrorists, whatever you want to call it. It's
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normally family and friends. By the way, they're the ones
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who are constantly negative and constantly questioning what you're doing,
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and it puts a real damper on the business owner's
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ability to think or to have the mindset that's needed
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in order to grow the business. So you need to
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optimize your environment by being surrounded by the right people
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to counter the organizational terrorists.
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Yeah, you know what, I'm that point. Yeah, And family
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and friends, you think are going to be your biggest supporters,
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and they're usually not.
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Right, that's right, And that's why optimizing your environment in
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terms of being with people who are who are supporting
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you is critical because it's so difficult to grow a business.
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It's not all these concepts that we're talking about aren't easy.
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They're not easy to do. And when you have people
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who are constantly negative and questioning what you're doing, it
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makes it much more difficult to establish the mindset that's
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needed to go from two fifty to seven fifty, or
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two fifty to one million, or a million to two million.
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And so that's why step five is so important. So
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once again, whether you work with me or someone else,
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you have to do this critical five. Step one is clarity,
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clarity and know where you're headed. Step two a step
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by step roadmap, Step three a skills upgrade, Step four
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master psychology, and step five optimize your environment.
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Those are brilliant steps because they're absolutely true and you're
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absolutely correct. That's you know, necessary, it's not even a desire,
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it's necessary in order for success. And you know, even
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to add on that last part about you know, friends, family,
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what have you. Listen, you need to surround yourself with
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people that are are at the level you want to
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be at, not the level you're at. And a lot
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of times when that happens, okay, people are gonna say
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negative things to you. That's why, you know, you see
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a lot of successful people in the world, and everybody's
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got something negative to say about them.
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You know.
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You take somebody like Jeff Bezos. Forget personality because that
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doesn't play in the role. You know, it's a matter
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of demand. Started Amazon in a garage. You gotta give
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credit where credits due. And that's the roadmap I want
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to follow, not the roadmap that keeps you in the garage.
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Right, that's right, that's exactly that's exactly right. And so yeah,
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so and and that's what we try to do.
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We try to put you in a supportive environment because
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you have the organizational terrorists that are constantly beating you down,
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and that that weighs on you over time. So you
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need that supportive environment that will serve you and and
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counter all that negativity. Uh. And so I think that,
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like I said, and like you said, I think these
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are five critical steps, with that fifth one being certainly
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very important as well.
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Absolutely, And how do people reach out to you for
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more information, for more knowledge, for you know, more coaching
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in this matter or any other business matter, or just
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to get your book?
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Okay, Well it's easy.
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You go to NeXTSTEP CFO dot net and if you
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if you go there, you can download our book for free.
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And then and go to NEXTSTEPCFO dot net, forward slash Contact,
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and I'd love to interview any business owner for the
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next edition of my book. And the way it works
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is really simple. It's sixty minutes on zoom. I present
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strategies from my book and then I ask your opinion
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as to the impact that would strategy, but that strategy
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would have if a business owner were to implement it
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in your industry, and then I document it for the book.
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There's nothing to buy it, but I promise you this,
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you'll learn business and financial strategies that your competition isn't doing.
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And if you go to that contact page of our
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website NEXTTEPCFO dot net, Forward slash Contact, fill out the
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contact form, put book interview in the message section and
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I'll send you a calendar link to schedule the interview.
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Nice.
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Are there any other final words for today that you
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want to leave the listeners with.
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I think that's it, except my normal thing, don't keep
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doing doing what your competition is doing.
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