When you start a business, the biggest thing that blocks our path to success is the existence of problems.
Think about the most difficult problem you’ve faced in your business and how you overcame it. We constantly assume that our problems are bigger than us and that they are drowning us and our business. But if you adjust your mindset, you’ll realise that you can overcome any problem.
In today’s episode, Tim Redmond, the CEO of Redmond Leadership Institute, will share his perspective on growth mindset, his coaching journey, how their system helped many entrepreneurs succeed in reaching 10 x in their business, and the key steps that successful entrepreneurs take.
In this Episode
[05:44] Tim shares the concept of growth mindset.
[06:22] Creating wealth is not just gathering money.
[09:02] How is a growth mindset defined?
- [09:54] “Casualness causes casualties.” – Tim Redmond
What are you doing in your business that you’re doing in a casual way? Because you’re convinced that no matter what you do, you’re just going to try to get by, rather than thrive.
- [10:43] “From the state of powerlessness to powerfulness.” – Steven Gaffney
As it relates to Tim’s description of mindset, based on the previous episode of Hands On Business With Steven Gaffney.
- [11:09] “You can’t affect the environment in which you’re in, but you can affect the way in which you react.” – Hakeem Adebiyi
[14:24] There’s not a lot of difference between training 600 pastors and training 600 business leaders, according to Tim.
[16:09] Tim describes having an innovative coaching process and he describes the steps in his process.
[17:39] Tim is getting great results with his coaching program.
- There was one guy who was 68 years old and ready to retire. He had a good-sized business but was not making any money, so Tim introduced their system. In about a year, they got him going from a hundred thousand dollars a month to $500,000 a month.
[21:11] A lot of people that don’t have systems are successful in terms of their bank account, but they’re not successful in their time freedom. Their business owns them.
[34:30] Successful entrepreneurs take Tim’s key steps.
- Determine who their target audience is and what need they wish to address. Extend your reach by narrowing your focus.
- Do you have a clear package? When they look at that package, your ideal client needs to think: “That will make my problem go away.”
- Have a no-brainer offer.
- Focus on planning within a given timeframe.
[36:55] The biggest challenge that entrepreneurs face is that they get busy that they don’t honour the time blocks that they had with themselves.
[40:19] Power planning is a lot like taking time to sharpen the axe.
[53:27] “Power To Create” A book written by Tim Redmond for business owners and pastors.
- In this book, he redefines wealth, money, and the role of money.
- The book’s intention is to free people up to create more, and hopefully to be more generous with what they create and the blessings and results they can achieve.
- The book is mainly about what God had in mind when he gave us the power to create wealth.
Reframe Your Mindset
Outgrow your growing problems and never lose faith in your ability to solve them. Consider your problem as a stepping stone rather than a stumbling block.
No matter how difficult the path to success may be, as long as you have a growth mindset, a system that works for you, and you own your business rather than your business owning you, you will be successful.
About Tim Redmond
Tim Redmond has 35 years of experience in growing highly successful businesses, he is an author and a speaker throughout the world. He’s the CEO of Redmond Growth Consulting as well as running the nonprofit Redmond Leadership Institute.
Furthermore, he built a tax and accounting software company from 2 people to over 350 people. He sold tax and accounting software to Intuit for $62.5 million. He has two decades of business coaching experience with startups to businesses worth hundreds of millions. He is featured in John Maxwell’s 21 Irrefutable Laws of Leadership and is a CPA who started his career with Pricewaterhouse Coopers.