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The topics and opinions expressed in the following show are
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solely those of the hosts and their guests and not
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those of W FOURCY Radio. It's employees are affiliates. We
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make no recommendations or endorsements for radio show programs, services,
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or products mentioned on air or on our web. No
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liability explicitor implies shall be extended to W FOURCY Radio
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or it's employees are affiliates. Any questions or comments should
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be directed to those show hosts. Thank you for choosing
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W FOURCY Radio.
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Welcome to Powerful Business Strategies, where you will find out
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that everything you have ever learned about growing your business
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is wrong. Finally, a show where you'll learn the right
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way to grow your business by learning business and financial
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strategies that your competition isn't doing and now here is
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your host. Resident of Next Step CFO Michael Barbarita and
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joining Michael for today's show as an executive moderator is
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chooky obia.
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Yes, this is choke, and I believe that gratitude is
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undefeated and growth is about the next step. It is
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an honor for me to moderate today's discussion with my
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good friend Michael.
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Michael, how are you very.
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Good, Chokey, and I've grown a great appreciation for what
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you do after going solo last week.
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Yeah, I heard it was actually one of the best shows.
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So actually at times, no, not really, you should have
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seen me fumbling all over all the buttons. Well, thank you,
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choke My name is Michael Babrita, President of Next Step CFO,
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and next Step CFO is a fractional CFO and strategic
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complementation for Our vision is to ensure overwhelmed business owners
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achieve the time, freedom, and consistent profits to build a
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legacy and the life they desire. Our mission is dedicated
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to guiding small business owners to leveraging their time, exploding
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their profits, and building a meaningful legacy. This show, Powerful
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Business Strategies in our book of the same name, is
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a step toward accomplishing that vision admission. So with that,
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I'd like to hand it back to my co author
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and moderator for the show, Chooky Obia.
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Michael's interesting.
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I always get energized when you use that phrase meaningful
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legacy because you and I both know a lot of
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the business owners that we work with. That's the number
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one goal, right to really build that meaningful legacy.
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So look before we jump in, I'm actually really enthralled.
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By what we've put together for today's show, and let's
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start with the title the five critical steps all business
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Owners need to take to Scale. Before we jump into
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the wisdom for today's show, just a quick disclaimer. So look,
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Michael and I are both affiliated with a number of
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different organizations. I currently serve as a managing director of
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business development for Vetter Price, a global business focused law firm.
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In addition to that, it's truly an honor to collaborate
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with Michael where we moderate business roundtables coast to coast,
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really internationally, and we document powerful business strategies as part
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of these roundtables that we moderate and in document these
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in our book called Powerful Business Strategies, which, as Michael noted,
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we continue to refine and update with new additions. But
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please note the views expressed on this show are our
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personal views based on successful experiences. My mission is a
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fearless moderator, is to ask the right questions to help you,
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the listener, learn the best business strategies that the competition
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isn't doing.
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Michael, over to you.
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Thank you, Thank you. Chicky. So, as an experienced business owner,
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you know I've been there. We all have those days
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when you lose that fire in the belly for what
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you do. Yeah, you know, the profession and business that
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you absolutely love, you all of a sudden hate because
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employees are being difficult or banks are on your case,
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or vendors who say they want to be your partner
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when they're trying to get your business and then finally
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do get your business. Never act like a partner. And
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there are certain taxes that we pay in regulatory things
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that make no sense to us. We have cash flow problems,
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Inflation takes a bite out of our profits, and all
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these things don't seem to change no matter how many
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hours we work. And I could go on. I know
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this because I've experienced this. I remember when I was
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in the ski business, going through this terrible mindset from
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time to time, almost like you want to sell off
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everything at no price, and no matter what the price.
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And just show today identifies five critical steps that you
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must take to overcome all of these challenges that I
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mention and make us feel like we want to those
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challenges that make us feel like we want to give up.
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And so in order to scale your business and live
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the life that you see so richly deserve. You must
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take these five steps. And as you can tell throughout
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the show the course of these radio shows that I'm
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very passionate about what I do, and I could go
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on and on and on for days and days and days,
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and so, as you know, we covered in great detail
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strategies like position of market, dominance, compelling offer yes, the
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conversion formula, the buyer's journey, risk reversal, the seven step
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Pathway to Profit formula, and why all those and why
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all those strategies and more that we'll talk about in
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the future. So you know, doesn't matter what the strategy is. Here,
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here's the thing, whether you work with Next Step, CFO
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or someone else, there are five steps that you're going
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to have to take in order for you to successfully
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execute and implement all of the strategies that we talk
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about in this show and to be able to scale
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your business and most importantly, create that life that you want.
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It is these five steps that I wish I'm in
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the business when I was in the frozen cookie dough
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business and when I was in the medical business. And
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without taking these five steps, you're wasting your time and money.
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So above and beyond understanding the mechanics of the strategies
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that we talk about on the show. There are five
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critical steps that you must take in order to properly
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implement and execute all those strategies and other strategies that
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we will get into in future shows. If you're going
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to if you want to get to the next level
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in your business. And the other important thing of great
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importance is that if you're planning to make any kind
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of move at all in your business, that's going to
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require an investment, and that includes things like running marketing campaigns,
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or includes coaching or consulting or any course on running
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your business. Once again, you have to make sure that
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whatever it is you're buying, it includes these five steps.
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And the reason why so many of these programs fail
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is because the program or the strategy does not incorporate
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into their program these five critical steps. So let me
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walk you through these five steps to be able to
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implement and execute any business strategy. The first is clarity.
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Before you can start to do tactical things, you must
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strategically understand why am I doing this, where am I going?
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What does success look like for me? Not in your
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business but in your life. I've seen this mistake happen
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over and over again, and a lot of you are
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in this position right now where you're so excited to
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make your impact in the world that you jump out
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there and create a business, and now all of a sudden,
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you have to change your life to fit this business
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thing that you created. And if you're able to access
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the chat. In the chat, put the word life. If
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you experience this other than me. So the first step
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is to avoid all of that confusion. The way it
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should really work is to create the life we want
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and then let the asset, which is the business, serve
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us and allow us to get to that life. Does
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that make sense? So that first step, and by the way,
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you see all the gurus tell your one funnel away,
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one marketing strategy away, one email campaign away from hitting
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pay dirt. You're not your one clarity step away. It's
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the clarity. It's the clarity that allows you to take
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all of the actions to get you there. Look, it's
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not your fault. No one has ever showed you how
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to go about getting clarity of direction to figure out
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where you're going. You're doing the same thing I did.
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I just jumped in. I was excited inspite all the hand.
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You know the family and friend members that tell you
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that it's not going to work. In spite of them,
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I leaked in all of a sudden. I had to
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adjust my life to the business, and my life became unmanageable.
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Whoever can relate to that, putt a yes in the
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chat if you have access what we're going to do.
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What we're going to do is that is what no
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one tells you to do. You get to get clarity first.
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You see, the business has its place. It's designed as
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a separate asset to support you to that kind of
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life that you're looking for, which is having time freedom
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and consistent profits. And once again, how many of you
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want time freedom and consistent profits from your business? Put
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a yes in the chat if you have access and
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if time freedom and can consistent profits is what you're after,
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and that is the clarity that you need to get.
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I'm hoping that that's valuable information everyone. Look if a
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guru or an advisor, or a coach or anyone attempts
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to support you without first starting with clarity as to
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where you're going with your life, run as fast as
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you can because clarity is the only way you could
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have a roadmap. If they're saying that they have the
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step by step roadmap without clarity, then it's a it's
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just not it's not for you. It's cookie cut it's
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cookie cutter. It's it's just not for you. Yeah. And
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now that we're getting clarity, there are a few more
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steps that are involved in clarity. So let's say you
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want to implement the position of market dominance. Well, first
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you have to understand what a position of market dominance
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is and what it isn't. If you remember from the
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conversion formula, the captivate which is the problem the customer has,
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and the fascinate the unique solution that you offer. Uh.
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Now that now that you have those first two steps,
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which is the position in the market dominance, what does
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that do for your for you as a business owner
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by knowing this information, well, this is where you get
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into your customer's mind. Remember, they already have a problem,
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they're looking for a solution and they can't find it.
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So whoever can articulate that problem in solution in the
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language of your market in a way that makes sense
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to them, they raise their hand. That's the business that's
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going to win. So a few more comments on clarity
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because it is so important clarity, and then the roadmap.
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All the gurus just want to give you a roadmap.
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So now you have clarity, we're now putting together a
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step by step, paint by numbers roadmap to actually accomplish time,
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freedom and the consistent profits that you're looking for. But
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you can't get it without the clarity of knowing where
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you're going. I hope everyone sees why getting clarity is
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the most important thing before we do another tactic or
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another thing that the gurus say you're supposed to do. Look,
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if you don't have clarity, you're here now you want
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to get here. You're asking for a roadmap, but you
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don't know where you're going. It's very important that you
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know where you're going by and by knowing where you're going,
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you understand what the hurdles are. Because without the clarity,
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there's no way to complete a plan. So step one
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is you need to get clear on where you're going,
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on why you're doing this, on what success looks like.
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How many of you are just fed up with those
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up and down sales cycles because you're not quite clear
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on what you're supposed to do next. Well, if you
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have access to the chat, put a C in the
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chat if you're having if you're having, if having crystal click.
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Clarity is something that's valuable so that you know exactly
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where you're headed and have a clear path, because that's
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that first step. You can't have a position of market
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dominance if you don't understand where you're going. You can't
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have you can't understand the buyer's journey. If you don't
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understand where you're going. You can't do the seven step
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pathway to profit. If you don't understand where you're going,
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can't do the conversion formula if you don't understand where
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you're going. And that's the first step. So you cannot
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produce any of this stuff unless you know where you're going.
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And by the way, I see, there's a mistake happening
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all the time and there's just no understanding of where
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you're going at the stop. So the first step is clarity.
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You gotta have. You gotta know where you're going. The
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step two is that step by step roadmap, but only
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if you know where you're headed the step by step roadmap,
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and the case of establishing a position of market dominance
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is first we need to identify who the customer is. Second,
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we need to identify the real problem that the customer has. Third,
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we have to come up with a solution. And fourth
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we have to find ways to test that problem and
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solution to make sure we have it right. And then finally,
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we have to leverage our position of Marcket dominance and
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how and how we'll use it and create that compelling offer.
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So we have the actual step by step roadmap. That's
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roadmap that's all created for you. So now we know
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that's exactly what we want, and that's going to free
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free you up from those up and down sales cycles. Yeah,