What it Takes to Create a Self Managing Company| Joe Polish and Dan Sullivan

What would happen for your business if you created a self-managing company? In this Episode of 10XTalk, you’ll discover what it takes to create a self-managing company, how to reach your 10x opportunities, and more with Dan Sullivan and Joe Polish.

Here’s a glance at what you’ll learn in this episode:

The Self-Managing Company: Freeing yourself up from everything that prevents you from creating a 10x bigger future
What successful, ambitious entrepreneurs do to reach their 10x opportunities and experience more freedom
Dan shares the best definition of Capitalism he’s ever discovered
How to transform any setback into a successful, satisfying experience
One thing you must do if you want to become an even better entrepreneur in the marketplace
Get The Self-Managing Company eBook for FREE by going to: www.strategiccoach.com/go/SMCEbook

Show Notes

Joe introduces Dan’s newest book, “The Self-Managing Company.” [00:01:09]
The self-managing company framework – free yourself from everything that prevents you from creating a ten times bigger future. [00:01:13]
It’s that desire to consolidate and automate more or less what you’re already doing that’s producing a certain level of cash flow so that you can create something bigger. [00:02:09]
Where the whole issue of the self-managing company even comes into play at all depends upon the entrepreneur. [00:03:12]
The tragedy of capitalism is that it was named by its enemies. [00:03:59]
The essence of capitalism is that it’s an ever expanding system of increased cooperation among strangers [00:04:12]
You have to have the belief that the future’s going to be incredibly bigger than the past and therefore you can risk losing parts of the past in order to create a new future. [00:05:26]
Entrepreneurs in terms of their understanding of how the world works are the smartest people in the world. And the reason is that they’re the only ones who expose themselves directly to the marketplace. [00:06:27]
Socialism: there’s no movement, system, innovation, or risk taking… There is no creation of new kinds of values because the regulations won’t allow you to do it. [00:07:57]
The capitalist marketplace is where there is the real truth; If you don’t create something of value nobody is going to give you a check. [00:09:08]
It’s impossible to fail if you’re willing to be a constant learner. [00:10:11]
Solving problems for profit [00:11:10]
Having a cooperation mindset [00:11:10]
Fundamentals of Trust [00:12:49]
The reward of creation [00:13:59]
How fear can pay off, and treating risk as possibility [00:16:07]
The thing that’s important for your idea is not the idea, it’s how to sell it [00:18:24]
You don’t build a great reputation by talking about what you’re going to do, you build a great reputation by doing it. [00:18:55]
If you’re winning 60 percent, losing 40 percent you’re on a roll. If you’re not making lots of mistakes and having to reverse yourself, you’re not trying. [00:20:48]
Why are people so opposed to capitalism? [00:21:36]
In order for me to get paid, I have to create something that’s really useful to the other person and therefore my attention can’t be on myself. [00:23:21]
In order to get the self-managing company, you have to have the set up right because if you don’t have the setup right…you don’t have the mindset right. [00:24:43]
Download your Complimentary copy of The Self-Managing Company and while you’re there also get a copy of The 80% Approach [00:25:14]
You just have to understand how the big game of life actually works. You can’t lie to yourself in that big game because you get punished for lying. You have, to tell the truth, and the truth is; to play that game you have to create value before you expect to get rewarded. [00:25:59]
You have real control in your life when you really know that you create value and the marketplace proves it by supporting you with that…it’s a great way to live….this is way more than about making money. I think this is about human happiness and productivity. [00:28:26]

Websites

People Mentioned

Friedrich Hayek

Recommended Resources

Making People Irreplaceable | Joe Polish and Dan Sullivan

Books

The Self-Managing Company eBook

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To go deeper with 10XTalk insights, access your FREE COPY of the “8 Transformations of a 10X Entrepreneur”, go here: http://www.10xtalk.com.

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