David’s Interview on Entrepreneur’s M&A Journal – Maui Mastermind Business Coaching

Jim Cumbee of Entrepreneur’s M&A Journal talks with David about his new book, “SCALE”.

What made you make the transition from operating a business to the coaching business?
Tell us about your book and the development of it?
Do people come to you asking to learn how to scale or do they come for something else and you get them there?
Are there two or three starting points in your book that you can share?

I found that I had gotten really good at teaching in my real estate training business. (3:23)
You grow a business by reducing its reliance on its owners. (5:41)
The business cannot survive without them (the owners). (6:09)
How to systematically get growth but get your life back. (6:27)
Most people come to me saying they feel stuck, or they are happy their business is growing, but they spend their whole life working on the business. (7:09)
You need a strategy to grow and how to do it without the owner there. (8:02)
The more dependent the company is on its owner the harder it is to sell it. (8:20)
It’s that hurdle at the 1 million to 20 million dollar stage (10:00)
Set a one page strategic action plan use it for 90 days. (11:50)
It’s not about more, it’s about better (Chapter 4). (12:40)
Create systems that people use on a daily or monthly basis (Chapter 2 &8). (13:54)
Cashflow is important to your business. (16:00)
Good financial systems are necessary to good gross profit margins. (17:10)
When we looked at their margin for clients, they were in the negative. (18:42)
We usually help our clients by phone but once a quarter we get together personally. (21:19)