May 5, 2025 • 27 mins
How do you develop, decide, execute a new idea, new business model, or new product? Do you have a clearly defined process or is it more of a ‘gut’ feeling?
Our guest today is Lior Weinstein, and he shares with us some mental models and frameworks to help you take control of your implementing new business solutions.
TODAY'S WIN-WIN:
“Entrepreneurs don’t go crazy because of their goals, but because of their deadlines.”
LINKS FROM THE EPISODE:
- You can visit our guest's website at:
- Attend our Franchise Sales Training Workshop:
- https://bigskyfranchiseteam.com/franchisesalestraining/
- If you are ready to franchise your business or take it to the next level: CLICK HERE.
- Connect with our guest on social:
- https://www.linkedin.com/in/liorweinstein/
- https://www.linkedin.com/company/ctox-fractional-cto/
ABOUT OUR GUEST:
Lior is a trailblazing tech visionary and serial entrepreneur, whose latest venture CTOx helps 8 and 9-figure CEOs transition to fractional leadership roles so they can gain better control over their time, money, happiness, and purpose while continuing to drive positive business impact. Some of the companies he has founded include: Poplar, Fortunian, Mapp, and Ginipic.
ABOUT BIG SKY FRANCHISE TEAM:
This episode is powered by Big Sky Franchise Team. If you are ready to talk about franchising your business you can schedule your free, no-obligation, franchise consultation online at: https://bigskyfranchiseteam.com/.
The information provided in this podcast is for informational and educational purposes only and should not be considered financial, legal, or professional advice. Always consult with a qualified professional before making any business decisions. The views and opinions expressed by guests are their own and do not necessarily reflect those of the host, Big Sky Franchise Team, or our affiliates. Additionally, this podcast may feature sponsors or advertisers, but any mention of products or services does not constitute an endorsement. Please do your own research before making any purchasing or business decisions.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Tom DuFore (00:01):
Welcome to the Multiply your Success podcast,
where, each week, we helpgrowth-minded entrepreneurs and
franchise leaders take the nextstep in their expansion journey.
I'm your host, tom Dufour, ceoof Big Sky Franchise Team, and
as we open today, I'm wonderinghow you develop, decide and
execute a new idea or a newbusiness model, or maybe a new
(00:21):
product or service you'reoffering.
Do you have a clearly definedprocess or is it more of a gut
feeling, or maybe somewhere inthe middle?
Well, our guest today is LiorWeinstein, and he shares with us
some mental models andframeworks to help you take
control of implementing your newbusiness solutions.
(00:42):
Now.
Lior is a trailblazing techvisionary and serial
entrepreneur whose latestventure, ctox, helps eight and
nine-figure CEOs transition tofractional leadership roles so
they can gain better controlover their time, money,
happiness and purpose, whilecontinuing to drive positive
business impact.
You're going to love thisinterview, so let's go ahead and
(01:04):
jump right into it.
Lior Weinstein (01:06):
Lior Weinstein, and I'm the CEO and founder of
CTOX.
Tom DuFore (01:11):
Well, your professional background and
expertise is something that'sreally interesting, especially
when we start thinking aboutchief technology officer and
this whole idea, and one thingthat just to lead with here as a
starting question for us isjust talking about this
blueprint for inevitable growthand these different frameworks
(01:31):
and processes that empowerbusinesses to achieve scalable
growth and predictable growth.
I'd love just to kind of startthere as a talking point.
Lior Weinstein (01:40):
I've been a fractional executive of
different kinds for a few years.
Actually, professionally I'mhalf-half I'm either leading
growth and marketing and salesor I'm leading technology, which
is a bit of an oddball in myindustry.
And a few years ago I used torun a performance-mostly agency,
so we did tech and marketing.
(02:01):
We actually used to work with alot of franchises and
franchisors.
Franchisees and franchisors.
The business model was verysimple.
We kind of went into a businessand we said, hey, give us a
flat fee retainer that could be$10,000 a month, $15,000,
$20,000.
But we'll take on 100% of allthe bits and bytes.
It doesn't matter if it's awebsite, if it's your printer,
if or if it's your Wi-Fi, itdoesn't matter If it's digital,
(02:22):
we'll own it, but give usuncapped commission on net new
revenue we bring to the business.
And so that model kind ofbrought up a few questions
originally, like how muchcommission?
I'm like I don't know, you tellme, because some business
models can support 20%, right,some business model can support
five.
And then they asked me whatdoes net new mean?
(02:43):
I'm like well, you tell mewhat's the baseline.
Are you expecting normally 10%growth a year?
I'm like great, first 10% areyours.
I get nothing but anything over10%.
Then we get the commission rate, whatever that is.
And that agency grew veryrapidly, very successfully, to
well over mid and high sixfigures in the first year a
month, mostly on commissions, inhigh six figures in the first
(03:07):
year a month, mostly oncommissions.
And in that model what happened, what differentiated us against
other agencies, marketers,technologists is one I was
willing to basically tie in mostof our compensation to an
actual net increase in benefitto the company.
That could be revenue, profit,enterprise value, whatever that
is.
And the second thing I nevermade promises on results and
(03:27):
output.
I told my clients I can'tguarantee results, I can't
guarantee output.
There's just so many variables.
But here's what I can guarantee.
I can guarantee input or effortand process and if we put the
right people doing the rightthings in the right way, we'll
just end up with all the rightthings.
So I told we'll just end upwith all the right things.
So I told them we're going tocreate an environment where
(03:48):
growth is inevitable and thatmeans we're starting something.
So we laid out a plan for thequarter and this is something I
learned from leading technologyteams.
So we have a team and usually atechnology team, just like any
kind of sports team, right?
So you have the engineers youknow people that actually build
the code.
You have the coordinators.
You have the product people thepeople that imagine what the
(04:09):
features should be like.
You have the scrum masters thepeople that make sure that you
know everything is passing, thetasks are passing around
correctly, and so on.
So I told them that's how we'regoing to manage everything.
Even though it's marketing,we're going to do the same thing
.
We're going to establish a team.
Some people are going to be thecreatives they're going to
create things.
Some people are going to be theanalytical you know the
analysts, the numbers.
(04:31):
Some people are just going tobe the managers, and some people
are going to make sure that allthe humans feel supported in
the right way, and so on.
But we're going to recognizethat all teams have capacities
and let's say, we have, you know, 20 hours from this person, 40
hours from that person, and soon, maybe contractors, maybe
full-timers, and we're going tocome up with ideas, and the
ideas are going to fulfill oneof three things for the business
(04:51):
.
A project or an initiative iseither going to de-risk the
business, and there are manyforms of risk.
Right, you can have market risk.
You can have key man risk.
You know John is the guy thatknows all the spreadsheets and
the passwords, and if John isout, you know we're not going to
be able to do much of anything.
Maybe it's operational risks.
Maybe it's systems risk.
We have, you know, one website,one server.
(05:13):
Something goes down, we can'tprocess payments.
Maybe it's training.
You know we don't like ifsomebody leaves, we don't know
how to onboard people, likedifferent forms of risks.
The next one is unclog.
So maybe we're trying to dosomething hard.
We actually have more demandthan ability to fulfill it and
we need to increase bandwidth onfulfillment.
Right, that's unclog.
(05:34):
And last thing is scale.
It's like, okay, operationallywe're good.
All the, all the holes in theboat, you know, are plugged,
everything is running smoothly.
We can't make this moreefficient than and how it is,
but we just want to do more.
Right, we don't want to gofaster, want to go farther.
And in that model where youeither de-risk the business,
(05:55):
unclog it or scale, we createwhat we call a mini impact
filter.
This is something I learnedfrom Dan Sullivan, from
Strategic Coach, which is to say, when we describe a project.
We're trying to identify.
What's the impact of theproject, right?
So we kind of describe, we giveit a name.
It's amazing to me how manybusinesses, projects that just
don't have names.
Like what are we doing?
(06:15):
Right, maybe it's technical,maybe we're moving to the cloud,
but maybe it's marketing.
We're establishing a newFacebook campaign, right.
So we give it a name, wedescribe what it is, give it a
description, we describe what'sthe ideal outcome.
So let's assume the project wassuccessful.
What's the ideal outcome?
So part of ideal outcome waswell, we launched this campaign
in four weeks, or we finishedthis, you know, tech product in
(06:37):
eight weeks and it cost us 20grand and the end of it we're in
all of our field.
Technicians can now do X, y, z,or we got 20 new leads a week,
and so on and so forth.
So we kind of described thebudget, the circumstances, the
people.
That's a part of ideal outcome,because that's what you're
trying to describe in ideal.
Then you describe the bestresult.
So well, if this project issuccessful, what's the best
(06:59):
result?
You know that that happens tothe business because of it and
some of that correlates to idealoutcome.
And then we describe the worstresult if we don't do anything
right.
So think about it.
We're ideating a bunch ofprojects.
So part of the entrepreneurialchallenge is to differentiate
between today problems andtomorrow problems, or today
priorities and tomorrowpriorities.
So it's very useful to describewell what's the worst case in
(07:21):
it.
Let's say we just do nothing,not if we execute poorly, just
if we don't do anything, if wedon't do this campaign, if we
don't do this website, whateverit is, what's the worst result?
So we describe it and once allthose things are figured out,
then we're basically describingokay, now we have pretty good
confidence, we want to do thisproject one way or another, or
maybe not.
What are the resources we needto execute?
(07:43):
What are the people, systems,you know, resources that need to
be there?
How long do we think it's goingto take?
And maybe we can go supergranular and just say, yeah, 20
hours.
Or maybe it's like well, wethink we can do it within a
quarter, 12 weeks, kind of we'regoing to start it in Q1.
We're going to finish in Q1.
It's going to take eight weeksor 10 weeks, not sure, but these
are the resources we need.
(08:04):
So we, the output of that kindof strategy, is that all this
list of projects right betweende-risk, unclog and scale, and
you basically can prioritizethem based on impact.
Because if something is notvery impactful, if something
doesn't have a compelling bestresult, you know and the worst
case scenario, the worst resultis just not very interesting
(08:26):
Then we prioritize on our topprojects and then based on the
resources we just know ourbandwidth.
Like it's nice to have ideas.
Let's say we came up with 30ideas, but if we have, you know,
four people that can execute,or we have like 10 grand a month
, you know we're going to do ourbest with 10 grand a month,
ordered or sorted by impact, anideal outcome and then we have
(08:47):
that.
And then we have a pretty goodclarity on what needs to happen
in this quarter and when it'swell planned, then any single
project has just enough to beeffective.
So we don't.
In engineering, there'ssomething we call scope creep,
right?
You see, there's a lot ofcreative projects, right?
You want to do this website orthis app and you end up just
(09:07):
overloading with features andyou thought you're going to
launch in eight weeks.
You end up launching in sixmonths and you're 500% over
budget.
So I took that same approachboth for marketing and sales and
technology, and develop thatframework of de-risk, unclog
scale.
Create an environment wheregrowth is inevitable.
Do of de-risk, unclog scale.
Create an environment wheregrowth is inevitable.
Do your quarterly planningbased on impact constrained by
(09:29):
resources.
Choose your top projects basedon your bandwidth, like that's
what's nice about reality.
It has a limit.
These atoms need to gosomewhere.
And then the culture is anexperimental culture, meaning if
we think Facebook campaign wasthe right thing to do, the ideal
outcome or the best resulttells us that our cost per lead
would have been X.
(09:49):
If we didn't get that, then westop.
We don't do it again next time.
If we did get that, then thenext project is like we want to
double the spend on Facebook, orwe want to add more features to
the app, or want to add AI now,or you know whatever that was.
So creating those frameworksreally because I had to deal
(10:09):
with both marketing and saleschallenges and technology
challenges really created thisboth a way to communicate around
projects that's focused onoutcome and not on effort.
So not, oh, it's going to takeus, you know, 8,000 or $80,000
and it's going to take us twomonths.
Oh, forget about that.
Like, why are we even doingthis?
That's the ideal outcome kindof conversation.
And then just be honest aboutthe resources.
(10:32):
I think a lot of entrepreneurs,you know we come with a sense
of urgency that's very innate.
We want things done yesterdayand we constantly think like, oh
, somebody must be able to dothis in six weeks.
And by mapping it that way incontext of all the other
projects and all the other ideasyou have, really lets you be
objective about it and say, okay, well, I guess if we want to do
(10:55):
more, we need to spend more,but otherwise let's just be okay
with all this outcome, with allthis business impact we're
trying to create.
Tom DuFore (11:02):
Having a realistic understanding about available
resources as they pursue to goafter and accomplishing these
goals that you set out made methink of just the clients we
help serve, and when we helpthem franchise their business,
they turn into a franchisor andthey go to market and oftentimes
they put this expectation onthemselves.
That's just unrealistic based onthe resources available
(11:24):
financial resources or humanresources where in their mind
they think, oh, I should havesold 100 franchises in my first
year, which, by the way, is notrealistic for just about any
franchise.
That's the exception, not thenorm that you go through it.
I think that is great advice.
I love how you approach it thatway.
And just to kind of continuedown that conversation and you
(11:45):
talk about some of these variousmodels and frameworks and such
and how do you see owners,business leaders, executives,
how can they maybe simplify someof these challenges that they
face in a day-to-day ormonth-to-month, year-to-year
context and apply some of thesemental models, frameworks and
things to help remove, maybe,some of these barriers mental
(12:07):
barriers in many cases to helpthem drive impact?
Lior Weinstein (12:16):
Even based on what you said, one of my
favorite mental models isentrepreneurs don't go crazy
because of their goals, butbecause of their deadlines.
And if you think about how truethat is, right, like we think
about a challenge and just like,like you said, 100 locations.
Well, what if it was 50?
If your emotional status right,anxiety, that's a lot of it.
Entrepreneurialism is managingour emotions for the most part
and battling reality, like wewant to manipulate reality more
(12:38):
than faster than it wants to bemanipulated.
And if it was, if the goal was50, and you suddenly be like, oh
okay, I'm okay with it, andthen the number suddenly changes
to 150.
You're like, well, I'm likesuper anxious and I don't know
if I can do it, and so on, andbalancing between that anxiety,
which puts you in kind of anegative space, right, puts you
in.
And certainly I'm also a fatherof kids, of young kids, and we
(13:01):
travel a lot.
It's very important to me tofind that harmony between
business and family life andpersonal life versus a goal like
the other side of the balanceis excitement, right?
So if I'm, if I want tofranchise, and I'm like I'm
going to go through all thisprocess and I'm going to have
two locations in two years.
Oh well, it might not beexciting enough for you to put
(13:21):
in that energy right, versussaying 202 years, okay, exciting
.
But the anxiety meter justshoots up right, and there's
also just reality like can youdo it?
Is it relevant?
Do you have the resources?
You know, is it reasonable?
And I think you know Bill Gates.
Many years ago I heard him sayabout people underestimate what
they can do in one year andunderestimate what they can do
(13:42):
in 10.
And certainly for me, coming infrom from technology in most of
my career, thinking aboutcompounding is a big deal.
You know, when you move 30steps into Savannah, you move.
You know 30 yards ahead.
When you do 30 compounded step,that could be a, a billion
miles Right.
So very, very different.
(14:02):
And so I think one part ofadopting is finding mental
models.
So, just like this if this isthe first time you listeners
hear about entrepreneurs, don'tgo crazy because of their goals,
but because of their deadlines.
Now you have it, you have amental model, you have an app
and you can look and when to useit when you go crazy, or when
(14:24):
you think your staff goes crazy,or when you think your
customers are going crazy orwhatever.
It is Right, I use it all thetime.
If we're in a sales environmentor with a customer satisfaction
, you realize the customer isjust being super antsy because
their expectation was to get aresult within seven days.
So let's solve it now and let'ssolve it also as a process,
(14:44):
right?
So the other thing is thinkinghow can you solve things once,
right?
I think a lot of entrepreneurs.
So here's another mental model.
So usually when I go intocompanies as a fractional CTO
myself or as a fractional kindof chief revenue or chief growth
, what normally happens is thatentrepreneurs get to a certain
stage because they're reallygood, and they're really good
(15:06):
mostly at everything that theirbusiness is about, right, and
they're certainly really greatat sales, right?
That's probably one of the mostfrustrating things, right, to
get somebody else to do, youknow, sales.
And I get into a team and Iusually let them kind of run for
a few weeks or a few months,even kind of, without changing
any of their processes, becauseI want to observe and usually
(15:29):
what happens.
After a quarter we get into anexecutive meeting and I put up
this slide and I kind of showthem all of the firefights that
they've been a part of in thelast quarter and that could be
just the CEO or that could be anexecutive team and that's the 8
pm.
You know, ring the bell, calleverybody because of something
small.
That could be the emergencymeeting, you know at 1230,
(15:49):
whatever that is.
That could be customer-driven,system-driven.
An email came up, a review cameup, all sorts of triggers right
, and I recorded and I kind ofshowed them and I told them your
guys are amazing firefightersand in 99% of the case that is a
true statement.
I'm not just appeasing them.
Like you are, you come in hot,you have the tools, you do it,
(16:11):
you commit, you know they do allthe things I told them.
But I'm here to installsprinkler systems and what hits
most entrepreneurs, to hitanother mental model, is that if
they find themselvesfirefighting every week, the big
phase shift for them happenswhen they realize they're
probably the arsonist in theirbusiness and I think, all
(16:33):
entrepreneurs.
What's nice about mental model?
It's like a formula right youhave, it's a single statement
you need to keep and then it canapply to many, many situations.
I think finding the people thatcreate mental models that are
good for you just even justGoogling mental models and
seeing different things, and youhave people knowing Occam's
razor right.
The simplest solution, thesimplest explanation usually is
(16:55):
the right explanation.
So you can either just vacuumthem and you know there's a lot
of them or find, find stuff likethis that apply to a situation
Generally in a business, even inlife.
If I see something repeats, I'mlooking for the mental model,
I'm looking for the scaffolding,like how can this apply?
So I know what to do next time.
(17:16):
So I'm not improvising mybehavior, but I'm actually
reading through some kind of aprescription, and maybe it's a
prescription that I createdbecause it's custom and unique,
you know, to the situation inthe company.
Maybe it's somebody ideallysomebody already figured this
out and I get to use theirlessons and not their scars.
So yeah, I'm a big proponent ofit because, just like a picture
(17:39):
is worth a thousand words, asingle mental model can help you
deal with a thousand situations.
Tom DuFore (17:44):
If someone's interested in connecting with
you, learning more about you,how can they get in touch?
Lior Weinstein (17:49):
LinkedIn.
You know Lior Weinstein.
I have my picture there withthe gray hair smiling.
You know, follow me, send me amessage.
Always love to help and meetnew entrepreneurs.
Tom DuFore (17:59):
Perfect, perfect.
Well, this is a great time inthe show Lior where we make a
transition and we ask everyguest the same four questions
before they go.
And the first question is haveyou had a?
Lior Weinstein (18:11):
miss or two on your journey and something you
learned from it.
Plenty of misses, plenty ofmisses.
My most entertaining miss,though.
I had the fortune to build afew businesses, sell them, be
successful there, and then I hadthis crazy thought, because of
a conversation with a goodfriend of my wife and mine, to
buy a spa in Atlanta, which isour home base, atlanta, georgia.
(18:32):
That was a good six-figure lossand a year of my life that I
realized.
Offline businesses are not forLior Weinstein.
I know my intuition is justlike off in all fronts.
I learned a ton about thedynamic of local businesses,
though, which served me verywell Years later, multiple times
(18:53):
.
If it's just the fact that it'sa physical space people come in
, there's, like you know, smellsand foot traffic and parking
and employees that need to come,and the doors that need to be
locked and cash register thatneed to be like.
Just all these things that, youknow, I never thought about
before and, luckily for me,didn't have to think about sins,
(19:13):
but yeah, that was a hubris.
I'm like, oh, I can makeanything successful.
So, no, now I know I can, butthat was definitely one of my
most entertaining misses.
Tom DuFore (19:23):
Oh, thank you for sharing.
Well, let's look on the otherside.
Lior Weinstein (19:25):
Let's talk about a make or a highlight ounce the
(19:48):
app store and in that companywe got I got the opportunity to
create a mobile app that's stillvery successful called Baby
First TV, which was an app forvideo for babies.
In retrospect, now that I am adad, I probably you know I don't
support babies watching iPhonesand iPads, but it won like very
beautiful awards and it waslike big UX innovation.
And from that company we wespun off a company called Epoxy,
(20:09):
which we ended up selling inlate 2014.
It grew to be the secondlargest mobile marketing
automation company in the world.
So when we sold we had about abillion and a half monthly
devices we're managingfingerprinted to 450 million
people and all of that just camefrom tinkering with different
mobile apps and having some goodinsights and being at the right
place at the right time, and itwas kind of beautiful to see it
(20:33):
from day one all the way to theexit.
Tom DuFore (20:35):
Let's talk about a multiplier.
The name of our show isMultiply your Success.
Have you used a multiplier togrow yourself, personally,
professionally or any of theorganizations you've run?
Lior Weinstein (20:46):
You know what In recent years, I would say, two
of my biggest multipliers.
One is an entrepreneur groupcalled Strategic Coach.
I'm a part of it.
Dan Sullivan that I mentionedearlier is the founder of that
and my coach as well in theprogram.
And being able to, every threemonths, just and I'm not, you
know, I'm a affiliate, that is aclient, but I don't get, you
(21:08):
know, referral bonuses for thisbeing able every 12 weeks to go
with a pair of entrepreneurs andthink and work on your business
and not in your business, hasbeen dramatic, certainly not
just 10x my results, butprobably 100x my vision.
So that's huge.
And the other is one of Dan'sactually favorite mental model.
He wrote a book on it that Irecommend, called who, not how.
(21:28):
The basic model is whenentrepreneurs think about a
problem, we immediately thinkabout all the ways to solve it,
the A to Z.
The problem is we don't want toactually do any of these things
.
So the better way to thinkabout how to solve a problem is
thinking who's the best personto solve it and not how to solve
it.
Solve it and not how to solveit.
And that's just single mentalmodel allows me still allowed me
(21:49):
and allows me to acceleratepretty much any venture I get in
just by immediately think who'sthe best person to do this?
And I never tried it.
That person to be me and thatreally what gives me scale and
opportunity and growth.
Tom DuFore (22:00):
And the final question we ask every guest is
what does success mean to?
Lior Weinstein (22:05):
you.
You know, a few years ago I puton my LinkedIn that my stated
life purpose is to dissolvepeople's self.
Well, I'll change the currentone.
The latest one is dissolvepeople's self-limiting beliefs
so they can be creative andpursue their passions.
I realized that I feelsuccessful with the more love
and support that I give to mybusiness partners, to my
(22:27):
employees, to my clients, andthat's what I try to do every
day.
Tom DuFore (22:33):
As we bring this to a close, Leo, is there anything
you're hoping to share or getacross that you haven't had a
chance to yet?
Lior Weinstein (22:39):
Right now we're on this wave, certainly on
technology, because of AI, wherethe world is shifting back from
buy to build.
That's how technology was inthe early kind of 90s and early
2000s.
People wanted technology, sothey hired engineers and built
it themselves.
Then the SaaS revolutionsoftware as a service came up
with Salesforce and thosecompanies and instead of
spending millions of dollarsbuilding something, you just
(23:00):
paid you know 50 bucks a monthor 100 bucks a month and you got
access to this.
You know huge code base and nowwith AI, everything is shifting
back.
That's why I'm really glad tobe leading CTOX.
We're basically a group offractional CTOs, so I teach CTOs
how to be fractional CTOs andthen we help businesses find
their fractional CTOs so theyget to tap into somebody with 15
(23:20):
, 25 years of experience and get100% of the outcome, but for a
fraction of the cost.
I think that that's true rightnow.
It's a huge businessopportunity for any business
owner to basically tap into thatexcellence and experience
without the full-time prospect.
People have been hiringfractional CFOs for many years
probably the most popular kindof fractional but fractional
(23:42):
CFOs fractional chief marketingofficers.
Fractional chief technologyofficers.
Fractional chief sales officers.
Fractional chief marketingofficers, factionals, chief
technology officers, factionals,chief sales officers,
factionals, chief operatingofficers.
There's a lot of people thathave decades of experience, who
are top-notch people and thereality is they don't want a
full-time job and you don't needto hire them full-time because
there's just not enoughfull-time.
We talked about constraints andcapacity and resources.
(24:03):
There's just you can't.
You know, there's not enoughbandwidth to metabolize the
ideas.
So I would like for people tojust think about like they hired
consultants, hired thesefractional executives.
The key difference is aconsultant is hired to solve a
problem.
A fractional executive is hiredto define the problem.
So you're there at the samelevel with them, sharing your
(24:25):
vision, sharing where you wantto go, and they're there to kind
of say OK, well, if you want togo there, this is what we need
to do on marketing.
If you want to go there, thisis what we need to do.
On technology, this is what weneed to do on operations and so
on.
It's a huge opportunity, it's agrowing space, it's a win-win
for everybody.
I just recommend forentrepreneurs to be mindful for
that new opportunity in business.
Tom DuFore (24:46):
Lior, thank you so much for a fantastic interview
and let's go ahead and jump intotoday's three key takeaways.
So takeaway number one is whenhe defined the types of projects
and the three categories theyfall into.
I really liked it because ithelps simplify.
Is this project that you'relooking to do, is it helping
de-risk, is it helping to unclogor is it helping to scale your
(25:09):
business De-risk, unclog orscale?
Takeaway number two is when hetalked about the steps to help
you make your changes, and thereare four key steps that he said
.
Number one was to give thischange a name Name.
It Seems simple, but it reallyhelps.
Number two is think about anddescribe what the ideal income
(25:31):
is going to be.
Number three what is the bestresult if you do this?
And number four what is theworst result if you don't do
anything?
Takeaway number three is whenhe talked about prioritizing
projects and he said you canprioritize with these three
components Number one look atyour resources.
Number two consider thebandwidth of your resources.
(25:54):
And number three, consider theimpact and that will help you to
prioritize various ideas, newproducts, new services, new
businesses, whatever else you'relooking to do.
And now it's time for today'swin-win whatever else you're
looking to do.
And now it's time for today'swin-win.
(26:17):
So today's win-win is when Liorsaid this, he said, quote
entrepreneurs don't go crazybecause of their goals, but
because of their deadlines,unquote.
I thought that was just a great, great nugget of information to
tie in for our win-win, as areminder for you, especially if
you're listening in as thefounder, the entrepreneur, the
leader of your organization.
It's oftentimes not your goalsbut your deadlines that you're
(26:39):
stuck on, and I know, I've seenit in myself in my own business,
where I want something tohappen faster than might be
realistic or than we might becapable of achieving.
So I think that was a greattakeaway.
That's the episode today.
Folks, please make sure yousubscribe to the podcast and
give us a review, and rememberif you or anyone you know might
(26:59):
be ready to franchise ourbusiness or take their franchise
company to the next level.
Please connect with us atbigskyfranchiseteamcom.
Thanks for tuning in and welook forward to having you back
next week.
Welcome to the Multiply your Success podcast,
where, each week, we helpgrowth-minded entrepreneurs and
franchise leaders take the nextstep in their expansion journey.
I'm your host, tom Dufour, ceoof Big Sky Franchise Team, and
as we open today, I'm wonderinghow you develop, decide and
execute a new idea or a newbusiness model, or maybe a new
(00:21):
product or service you'reoffering.
Do you have a clearly definedprocess or is it more of a gut
feeling, or maybe somewhere inthe middle?
Well, our guest today is LiorWeinstein, and he shares with us
some mental models andframeworks to help you take
control of implementing your newbusiness solutions.
(00:42):
Now.
Lior is a trailblazing techvisionary and serial
entrepreneur whose latestventure, ctox, helps eight and
nine-figure CEOs transition tofractional leadership roles so
they can gain better controlover their time, money,
happiness and purpose, whilecontinuing to drive positive
business impact.
You're going to love thisinterview, so let's go ahead and
(01:04):
jump right into it.
Lior Weinstein (01:06):
Lior Weinstein, and I'm the CEO and founder of
CTOX.
Tom DuFore (01:11):
Well, your professional background and
expertise is something that'sreally interesting, especially
when we start thinking aboutchief technology officer and
this whole idea, and one thingthat just to lead with here as a
starting question for us isjust talking about this
blueprint for inevitable growthand these different frameworks
(01:31):
and processes that empowerbusinesses to achieve scalable
growth and predictable growth.
I'd love just to kind of startthere as a talking point.
Lior Weinstein (01:40):
I've been a fractional executive of
different kinds for a few years.
Actually, professionally I'mhalf-half I'm either leading
growth and marketing and salesor I'm leading technology, which
is a bit of an oddball in myindustry.
And a few years ago I used torun a performance-mostly agency,
so we did tech and marketing.
(02:01):
We actually used to work with alot of franchises and
franchisors.
Franchisees and franchisors.
The business model was verysimple.
We kind of went into a businessand we said, hey, give us a
flat fee retainer that could be$10,000 a month, $15,000,
$20,000.
But we'll take on 100% of allthe bits and bytes.
It doesn't matter if it's awebsite, if it's your printer,
if or if it's your Wi-Fi, itdoesn't matter If it's digital,
(02:22):
we'll own it, but give usuncapped commission on net new
revenue we bring to the business.
And so that model kind ofbrought up a few questions
originally, like how muchcommission?
I'm like I don't know, you tellme, because some business
models can support 20%, right,some business model can support
five.
And then they asked me whatdoes net new mean?
(02:43):
I'm like well, you tell mewhat's the baseline.
Are you expecting normally 10%growth a year?
I'm like great, first 10% areyours.
I get nothing but anything over10%.
Then we get the commission rate, whatever that is.
And that agency grew veryrapidly, very successfully, to
well over mid and high sixfigures in the first year a
month, mostly on commissions, inhigh six figures in the first
(03:07):
year a month, mostly oncommissions.
And in that model what happened, what differentiated us against
other agencies, marketers,technologists is one I was
willing to basically tie in mostof our compensation to an
actual net increase in benefitto the company.
That could be revenue, profit,enterprise value, whatever that
is.
And the second thing I nevermade promises on results and
(03:27):
output.
I told my clients I can'tguarantee results, I can't
guarantee output.
There's just so many variables.
But here's what I can guarantee.
I can guarantee input or effortand process and if we put the
right people doing the rightthings in the right way, we'll
just end up with all the rightthings.
So I told we'll just end upwith all the right things.
So I told them we're going tocreate an environment where
(03:48):
growth is inevitable and thatmeans we're starting something.
So we laid out a plan for thequarter and this is something I
learned from leading technologyteams.
So we have a team and usually atechnology team, just like any
kind of sports team, right?
So you have the engineers youknow people that actually build
the code.
You have the coordinators.
You have the product people thepeople that imagine what the
(04:09):
features should be like.
You have the scrum masters thepeople that make sure that you
know everything is passing, thetasks are passing around
correctly, and so on.
So I told them that's how we'regoing to manage everything.
Even though it's marketing,we're going to do the same thing
.
We're going to establish a team.
Some people are going to be thecreatives they're going to
create things.
Some people are going to be theanalytical you know the
analysts, the numbers.
(04:31):
Some people are just going tobe the managers, and some people
are going to make sure that allthe humans feel supported in
the right way, and so on.
But we're going to recognizethat all teams have capacities
and let's say, we have, you know, 20 hours from this person, 40
hours from that person, and soon, maybe contractors, maybe
full-timers, and we're going tocome up with ideas, and the
ideas are going to fulfill oneof three things for the business
(04:51):
.
A project or an initiative iseither going to de-risk the
business, and there are manyforms of risk.
Right, you can have market risk.
You can have key man risk.
You know John is the guy thatknows all the spreadsheets and
the passwords, and if John isout, you know we're not going to
be able to do much of anything.
Maybe it's operational risks.
Maybe it's systems risk.
We have, you know, one website,one server.
(05:13):
Something goes down, we can'tprocess payments.
Maybe it's training.
You know we don't like ifsomebody leaves, we don't know
how to onboard people, likedifferent forms of risks.
The next one is unclog.
So maybe we're trying to dosomething hard.
We actually have more demandthan ability to fulfill it and
we need to increase bandwidth onfulfillment.
Right, that's unclog.
(05:34):
And last thing is scale.
It's like, okay, operationallywe're good.
All the, all the holes in theboat, you know, are plugged,
everything is running smoothly.
We can't make this moreefficient than and how it is,
but we just want to do more.
Right, we don't want to gofaster, want to go farther.
And in that model where youeither de-risk the business,
(05:55):
unclog it or scale, we createwhat we call a mini impact
filter.
This is something I learnedfrom Dan Sullivan, from
Strategic Coach, which is to say, when we describe a project.
We're trying to identify.
What's the impact of theproject, right?
So we kind of describe, we giveit a name.
It's amazing to me how manybusinesses, projects that just
don't have names.
Like what are we doing?
(06:15):
Right, maybe it's technical,maybe we're moving to the cloud,
but maybe it's marketing.
We're establishing a newFacebook campaign, right.
So we give it a name, wedescribe what it is, give it a
description, we describe what'sthe ideal outcome.
So let's assume the project wassuccessful.
What's the ideal outcome?
So part of ideal outcome waswell, we launched this campaign
in four weeks, or we finishedthis, you know, tech product in
(06:37):
eight weeks and it cost us 20grand and the end of it we're in
all of our field.
Technicians can now do X, y, z,or we got 20 new leads a week,
and so on and so forth.
So we kind of described thebudget, the circumstances, the
people.
That's a part of ideal outcome,because that's what you're
trying to describe in ideal.
Then you describe the bestresult.
So well, if this project issuccessful, what's the best
(06:59):
result?
You know that that happens tothe business because of it and
some of that correlates to idealoutcome.
And then we describe the worstresult if we don't do anything
right.
So think about it.
We're ideating a bunch ofprojects.
So part of the entrepreneurialchallenge is to differentiate
between today problems andtomorrow problems, or today
priorities and tomorrowpriorities.
So it's very useful to describewell what's the worst case in
(07:21):
it.
Let's say we just do nothing,not if we execute poorly, just
if we don't do anything, if wedon't do this campaign, if we
don't do this website, whateverit is, what's the worst result?
So we describe it and once allthose things are figured out,
then we're basically describingokay, now we have pretty good
confidence, we want to do thisproject one way or another, or
maybe not.
What are the resources we needto execute?
(07:43):
What are the people, systems,you know, resources that need to
be there?
How long do we think it's goingto take?
And maybe we can go supergranular and just say, yeah, 20
hours.
Or maybe it's like well, wethink we can do it within a
quarter, 12 weeks, kind of we'regoing to start it in Q1.
We're going to finish in Q1.
It's going to take eight weeksor 10 weeks, not sure, but these
are the resources we need.
(08:04):
So we, the output of that kindof strategy, is that all this
list of projects right betweende-risk, unclog and scale, and
you basically can prioritizethem based on impact.
Because if something is notvery impactful, if something
doesn't have a compelling bestresult, you know and the worst
case scenario, the worst resultis just not very interesting
(08:26):
Then we prioritize on our topprojects and then based on the
resources we just know ourbandwidth.
Like it's nice to have ideas.
Let's say we came up with 30ideas, but if we have, you know,
four people that can execute,or we have like 10 grand a month
, you know we're going to do ourbest with 10 grand a month,
ordered or sorted by impact, anideal outcome and then we have
(08:47):
that.
And then we have a pretty goodclarity on what needs to happen
in this quarter and when it'swell planned, then any single
project has just enough to beeffective.
So we don't.
In engineering, there'ssomething we call scope creep,
right?
You see, there's a lot ofcreative projects, right?
You want to do this website orthis app and you end up just
(09:07):
overloading with features andyou thought you're going to
launch in eight weeks.
You end up launching in sixmonths and you're 500% over
budget.
So I took that same approachboth for marketing and sales and
technology, and develop thatframework of de-risk, unclog
scale.
Create an environment wheregrowth is inevitable.
Do of de-risk, unclog scale.
Create an environment wheregrowth is inevitable.
Do your quarterly planningbased on impact constrained by
(09:29):
resources.
Choose your top projects basedon your bandwidth, like that's
what's nice about reality.
It has a limit.
These atoms need to gosomewhere.
And then the culture is anexperimental culture, meaning if
we think Facebook campaign wasthe right thing to do, the ideal
outcome or the best resulttells us that our cost per lead
would have been X.
(09:49):
If we didn't get that, then westop.
We don't do it again next time.
If we did get that, then thenext project is like we want to
double the spend on Facebook, orwe want to add more features to
the app, or want to add AI now,or you know whatever that was.
So creating those frameworksreally because I had to deal
(10:09):
with both marketing and saleschallenges and technology
challenges really created thisboth a way to communicate around
projects that's focused onoutcome and not on effort.
So not, oh, it's going to takeus, you know, 8,000 or $80,000
and it's going to take us twomonths.
Oh, forget about that.
Like, why are we even doingthis?
That's the ideal outcome kindof conversation.
And then just be honest aboutthe resources.
(10:32):
I think a lot of entrepreneurs,you know we come with a sense
of urgency that's very innate.
We want things done yesterdayand we constantly think like, oh
, somebody must be able to dothis in six weeks.
And by mapping it that way incontext of all the other
projects and all the other ideasyou have, really lets you be
objective about it and say, okay, well, I guess if we want to do
(10:55):
more, we need to spend more,but otherwise let's just be okay
with all this outcome, with allthis business impact we're
trying to create.
Tom DuFore (11:02):
Having a realistic understanding about available
resources as they pursue to goafter and accomplishing these
goals that you set out made methink of just the clients we
help serve, and when we helpthem franchise their business,
they turn into a franchisor andthey go to market and oftentimes
they put this expectation onthemselves.
That's just unrealistic based onthe resources available
(11:24):
financial resources or humanresources where in their mind
they think, oh, I should havesold 100 franchises in my first
year, which, by the way, is notrealistic for just about any
franchise.
That's the exception, not thenorm that you go through it.
I think that is great advice.
I love how you approach it thatway.
And just to kind of continuedown that conversation and you
(11:45):
talk about some of these variousmodels and frameworks and such
and how do you see owners,business leaders, executives,
how can they maybe simplify someof these challenges that they
face in a day-to-day ormonth-to-month, year-to-year
context and apply some of thesemental models, frameworks and
things to help remove, maybe,some of these barriers mental
(12:07):
barriers in many cases to helpthem drive impact?
Lior Weinstein (12:16):
Even based on what you said, one of my
favorite mental models isentrepreneurs don't go crazy
because of their goals, butbecause of their deadlines.
And if you think about how truethat is, right, like we think
about a challenge and just like,like you said, 100 locations.
Well, what if it was 50?
If your emotional status right,anxiety, that's a lot of it.
Entrepreneurialism is managingour emotions for the most part
and battling reality, like wewant to manipulate reality more
(12:38):
than faster than it wants to bemanipulated.
And if it was, if the goal was50, and you suddenly be like, oh
okay, I'm okay with it, andthen the number suddenly changes
to 150.
You're like, well, I'm likesuper anxious and I don't know
if I can do it, and so on, andbalancing between that anxiety,
which puts you in kind of anegative space, right, puts you
in.
And certainly I'm also a fatherof kids, of young kids, and we
(13:01):
travel a lot.
It's very important to me tofind that harmony between
business and family life andpersonal life versus a goal like
the other side of the balanceis excitement, right?
So if I'm, if I want tofranchise, and I'm like I'm
going to go through all thisprocess and I'm going to have
two locations in two years.
Oh well, it might not beexciting enough for you to put
(13:21):
in that energy right, versussaying 202 years, okay, exciting
.
But the anxiety meter justshoots up right, and there's
also just reality like can youdo it?
Is it relevant?
Do you have the resources?
You know, is it reasonable?
And I think you know Bill Gates.
Many years ago I heard him sayabout people underestimate what
they can do in one year andunderestimate what they can do
(13:42):
in 10.
And certainly for me, coming infrom from technology in most of
my career, thinking aboutcompounding is a big deal.
You know, when you move 30steps into Savannah, you move.
You know 30 yards ahead.
When you do 30 compounded step,that could be a, a billion
miles Right.
So very, very different.
(14:02):
And so I think one part ofadopting is finding mental
models.
So, just like this if this isthe first time you listeners
hear about entrepreneurs, don'tgo crazy because of their goals,
but because of their deadlines.
Now you have it, you have amental model, you have an app
and you can look and when to useit when you go crazy, or when
(14:24):
you think your staff goes crazy,or when you think your
customers are going crazy orwhatever.
It is Right, I use it all thetime.
If we're in a sales environmentor with a customer satisfaction
, you realize the customer isjust being super antsy because
their expectation was to get aresult within seven days.
So let's solve it now and let'ssolve it also as a process,
(14:44):
right?
So the other thing is thinkinghow can you solve things once,
right?
I think a lot of entrepreneurs.
So here's another mental model.
So usually when I go intocompanies as a fractional CTO
myself or as a fractional kindof chief revenue or chief growth
, what normally happens is thatentrepreneurs get to a certain
stage because they're reallygood, and they're really good
(15:06):
mostly at everything that theirbusiness is about, right, and
they're certainly really greatat sales, right?
That's probably one of the mostfrustrating things, right, to
get somebody else to do, youknow, sales.
And I get into a team and Iusually let them kind of run for
a few weeks or a few months,even kind of, without changing
any of their processes, becauseI want to observe and usually
(15:29):
what happens.
After a quarter we get into anexecutive meeting and I put up
this slide and I kind of showthem all of the firefights that
they've been a part of in thelast quarter and that could be
just the CEO or that could be anexecutive team and that's the 8
pm.
You know, ring the bell, calleverybody because of something
small.
That could be the emergencymeeting, you know at 1230,
(15:49):
whatever that is.
That could be customer-driven,system-driven.
An email came up, a review cameup, all sorts of triggers right
, and I recorded and I kind ofshowed them and I told them your
guys are amazing firefightersand in 99% of the case that is a
true statement.
I'm not just appeasing them.
Like you are, you come in hot,you have the tools, you do it,
(16:11):
you commit, you know they do allthe things I told them.
But I'm here to installsprinkler systems and what hits
most entrepreneurs, to hitanother mental model, is that if
they find themselvesfirefighting every week, the big
phase shift for them happenswhen they realize they're
probably the arsonist in theirbusiness and I think, all
(16:33):
entrepreneurs.
What's nice about mental model?
It's like a formula right youhave, it's a single statement
you need to keep and then it canapply to many, many situations.
I think finding the people thatcreate mental models that are
good for you just even justGoogling mental models and
seeing different things, and youhave people knowing Occam's
razor right.
The simplest solution, thesimplest explanation usually is
(16:55):
the right explanation.
So you can either just vacuumthem and you know there's a lot
of them or find, find stuff likethis that apply to a situation
Generally in a business, even inlife.
If I see something repeats, I'mlooking for the mental model,
I'm looking for the scaffolding,like how can this apply?
So I know what to do next time.
(17:16):
So I'm not improvising mybehavior, but I'm actually
reading through some kind of aprescription, and maybe it's a
prescription that I createdbecause it's custom and unique,
you know, to the situation inthe company.
Maybe it's somebody ideallysomebody already figured this
out and I get to use theirlessons and not their scars.
So yeah, I'm a big proponent ofit because, just like a picture
(17:39):
is worth a thousand words, asingle mental model can help you
deal with a thousand situations.
Tom DuFore (17:44):
If someone's interested in connecting with
you, learning more about you,how can they get in touch?
Lior Weinstein (17:49):
LinkedIn.
You know Lior Weinstein.
I have my picture there withthe gray hair smiling.
You know, follow me, send me amessage.
Always love to help and meetnew entrepreneurs.
Tom DuFore (17:59):
Perfect, perfect.
Well, this is a great time inthe show Lior where we make a
transition and we ask everyguest the same four questions
before they go.
And the first question is haveyou had a?
Lior Weinstein (18:11):
miss or two on your journey and something you
learned from it.
Plenty of misses, plenty ofmisses.
My most entertaining miss,though.
I had the fortune to build afew businesses, sell them, be
successful there, and then I hadthis crazy thought, because of
a conversation with a goodfriend of my wife and mine, to
buy a spa in Atlanta, which isour home base, atlanta, georgia.
(18:32):
That was a good six-figure lossand a year of my life that I
realized.
Offline businesses are not forLior Weinstein.
I know my intuition is justlike off in all fronts.
I learned a ton about thedynamic of local businesses,
though, which served me verywell Years later, multiple times
(18:53):
.
If it's just the fact that it'sa physical space people come in
, there's, like you know, smellsand foot traffic and parking
and employees that need to come,and the doors that need to be
locked and cash register thatneed to be like.
Just all these things that, youknow, I never thought about
before and, luckily for me,didn't have to think about sins,
(19:13):
but yeah, that was a hubris.
I'm like, oh, I can makeanything successful.
So, no, now I know I can, butthat was definitely one of my
most entertaining misses.
Tom DuFore (19:23):
Oh, thank you for sharing.
Well, let's look on the otherside.
Lior Weinstein (19:25):
Let's talk about a make or a highlight ounce the
(19:48):
app store and in that companywe got I got the opportunity to
create a mobile app that's stillvery successful called Baby
First TV, which was an app forvideo for babies.
In retrospect, now that I am adad, I probably you know I don't
support babies watching iPhonesand iPads, but it won like very
beautiful awards and it waslike big UX innovation.
And from that company we wespun off a company called Epoxy,
(20:09):
which we ended up selling inlate 2014.
It grew to be the secondlargest mobile marketing
automation company in the world.
So when we sold we had about abillion and a half monthly
devices we're managingfingerprinted to 450 million
people and all of that just camefrom tinkering with different
mobile apps and having some goodinsights and being at the right
place at the right time, and itwas kind of beautiful to see it
(20:33):
from day one all the way to theexit.
Tom DuFore (20:35):
Let's talk about a multiplier.
The name of our show isMultiply your Success.
Have you used a multiplier togrow yourself, personally,
professionally or any of theorganizations you've run?
Lior Weinstein (20:46):
You know what In recent years, I would say, two
of my biggest multipliers.
One is an entrepreneur groupcalled Strategic Coach.
I'm a part of it.
Dan Sullivan that I mentionedearlier is the founder of that
and my coach as well in theprogram.
And being able to, every threemonths, just and I'm not, you
know, I'm a affiliate, that is aclient, but I don't get, you
(21:08):
know, referral bonuses for thisbeing able every 12 weeks to go
with a pair of entrepreneurs andthink and work on your business
and not in your business, hasbeen dramatic, certainly not
just 10x my results, butprobably 100x my vision.
So that's huge.
And the other is one of Dan'sactually favorite mental model.
He wrote a book on it that Irecommend, called who, not how.
(21:28):
The basic model is whenentrepreneurs think about a
problem, we immediately thinkabout all the ways to solve it,
the A to Z.
The problem is we don't want toactually do any of these things
.
So the better way to thinkabout how to solve a problem is
thinking who's the best personto solve it and not how to solve
it.
Solve it and not how to solveit.
And that's just single mentalmodel allows me still allowed me
(21:49):
and allows me to acceleratepretty much any venture I get in
just by immediately think who'sthe best person to do this?
And I never tried it.
That person to be me and thatreally what gives me scale and
opportunity and growth.
Tom DuFore (22:00):
And the final question we ask every guest is
what does success mean to?
Lior Weinstein (22:05):
you.
You know, a few years ago I puton my LinkedIn that my stated
life purpose is to dissolvepeople's self.
Well, I'll change the currentone.
The latest one is dissolvepeople's self-limiting beliefs
so they can be creative andpursue their passions.
I realized that I feelsuccessful with the more love
and support that I give to mybusiness partners, to my
(22:27):
employees, to my clients, andthat's what I try to do every
day.
Tom DuFore (22:33):
As we bring this to a close, Leo, is there anything
you're hoping to share or getacross that you haven't had a
chance to yet?
Lior Weinstein (22:39):
Right now we're on this wave, certainly on
technology, because of AI, wherethe world is shifting back from
buy to build.
That's how technology was inthe early kind of 90s and early
2000s.
People wanted technology, sothey hired engineers and built
it themselves.
Then the SaaS revolutionsoftware as a service came up
with Salesforce and thosecompanies and instead of
spending millions of dollarsbuilding something, you just
(23:00):
paid you know 50 bucks a monthor 100 bucks a month and you got
access to this.
You know huge code base and nowwith AI, everything is shifting
back.
That's why I'm really glad tobe leading CTOX.
We're basically a group offractional CTOs, so I teach CTOs
how to be fractional CTOs andthen we help businesses find
their fractional CTOs so theyget to tap into somebody with 15
(23:20):
, 25 years of experience and get100% of the outcome, but for a
fraction of the cost.
I think that that's true rightnow.
It's a huge businessopportunity for any business
owner to basically tap into thatexcellence and experience
without the full-time prospect.
People have been hiringfractional CFOs for many years
probably the most popular kindof fractional but fractional
(23:42):
CFOs fractional chief marketingofficers.
Fractional chief technologyofficers.
Fractional chief sales officers.
Fractional chief marketingofficers, factionals, chief
technology officers, factionals,chief sales officers,
factionals, chief operatingofficers.
There's a lot of people thathave decades of experience, who
are top-notch people and thereality is they don't want a
full-time job and you don't needto hire them full-time because
there's just not enoughfull-time.
We talked about constraints andcapacity and resources.
(24:03):
There's just you can't.
You know, there's not enoughbandwidth to metabolize the
ideas.
So I would like for people tojust think about like they hired
consultants, hired thesefractional executives.
The key difference is aconsultant is hired to solve a
problem.
A fractional executive is hiredto define the problem.
So you're there at the samelevel with them, sharing your
(24:25):
vision, sharing where you wantto go, and they're there to kind
of say OK, well, if you want togo there, this is what we need
to do on marketing.
If you want to go there, thisis what we need to do.
On technology, this is what weneed to do on operations and so
on.
It's a huge opportunity, it's agrowing space, it's a win-win
for everybody.
I just recommend forentrepreneurs to be mindful for
that new opportunity in business.
Tom DuFore (24:46):
Lior, thank you so much for a fantastic interview
and let's go ahead and jump intotoday's three key takeaways.
So takeaway number one is whenhe defined the types of projects
and the three categories theyfall into.
I really liked it because ithelps simplify.
Is this project that you'relooking to do, is it helping
de-risk, is it helping to unclogor is it helping to scale your
(25:09):
business De-risk, unclog orscale?
Takeaway number two is when hetalked about the steps to help
you make your changes, and thereare four key steps that he said
.
Number one was to give thischange a name Name.
It Seems simple, but it reallyhelps.
Number two is think about anddescribe what the ideal income
(25:31):
is going to be.
Number three what is the bestresult if you do this?
And number four what is theworst result if you don't do
anything?
Takeaway number three is whenhe talked about prioritizing
projects and he said you canprioritize with these three
components Number one look atyour resources.
Number two consider thebandwidth of your resources.
(25:54):
And number three, consider theimpact and that will help you to
prioritize various ideas, newproducts, new services, new
businesses, whatever else you'relooking to do.
And now it's time for today'swin-win whatever else you're
looking to do.
And now it's time for today'swin-win.
(26:17):
So today's win-win is when Liorsaid this, he said, quote
entrepreneurs don't go crazybecause of their goals, but
because of their deadlines,unquote.
I thought that was just a great, great nugget of information to
tie in for our win-win, as areminder for you, especially if
you're listening in as thefounder, the entrepreneur, the
leader of your organization.
It's oftentimes not your goalsbut your deadlines that you're
(26:39):
stuck on, and I know, I've seenit in myself in my own business,
where I want something tohappen faster than might be
realistic or than we might becapable of achieving.
So I think that was a greattakeaway.
That's the episode today.
Folks, please make sure yousubscribe to the podcast and
give us a review, and rememberif you or anyone you know might
(26:59):
be ready to franchise ourbusiness or take their franchise
company to the next level.
Please connect with us atbigskyfranchiseteamcom.
Thanks for tuning in and welook forward to having you back
next week.
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