In this week's episode of the Rocket Ship Founder Podcast, Steve dives deep into the topic of business re-creation. With the economic shift that began at the end of 2022, many founders and business coaches are finding the need to re-create their businesses to adapt to the new normal. Drawing from his extensive experience through multiple economic cycles, Steve shares his insights and practical steps for recognizing when it's time to re-create and how to effectively do so.
- Economic Shifts and Their Impact: How the transition from easy money times to a more challenging economic climate is affecting businesses.
- Recognizing the Need for Change: Signs that indicate it's time to re-create your business, such as customer concentration, overstaffing, unnecessary expenses, unclear value propositions, industry shifts, and inefficient marketing.
- Personal Experience: Steve shares his own experience of business attrition over the past 12 months and how it has motivated him to re-create his business.
- Opportunities in Re-creation: Despite the challenges, Steve sees this as a huge opportunity to leverage his accumulated knowledge and teachings to help other founders.
- Foundation of a Successful Business: The core principles Steve emphasizes are finding the right customers, creating exceptionally good offers, and building a reliable system to reach those customers.
- Practical Steps for Re-creation:
- Recognizing the signs that it's time to re-create.
- Three steps to jump start your re-creation process.
- Essential elements necessary for a successful business re-creation.
If you are a B2B Founder looking for support in re-creating your business and finding a path to your next $500k-$1M in revenue, consider joining Steve's 2X Accelerator Community. Although the June intake is closed, the waitlist for July is open. Email steve@steveaugustcoaching.com "2X" to get more details.
