organizations and companies that scale
for very long time and stay relevant for
very long time understand the art of
replacement game now what do I mean by
the replacement game look the Lakers had
to find a way to replace Kobe because
they were irrelevant for three years
ever since he retired and they brought
LeBron James right you look at college
football teams I had people earlier here
from Omaha Nebraska talking about the
last time we were relevant was what 1997
because they made a mistake on the
replacement game this is the point you
hear as important as you and I think we
are as important as we think oh my gosh
I am so important because without me
nothing would ever happen that’s when a
value of a company stays small Microsoft
CEO and founder Bill Gates realized June
27 of 2008 that he needed to be replaced
and he stepped down as a CEO and new
CEOs came up and Microsoft about to be
the number three trillion dollar company
ever so today in this episode we’re
gonna talk about the replacement game
look one of hardest things have to
overcome as a founder and a seal was the
fact that Pat the more you matter the
less the company’s worth let me say this
one more time the more I matter the less
your company’s worth so if you matter
this much the company’s values here if
you matter less the company’s values
here why because you’ve replaced
yourself look this system in America and
many other countries is presidents get
replaced if I were to ask you right now
tell me who is the first president in
the history of America you may say
George Washington now what if I ask you
who was a seventh you’re stuck what if I
tell you 16th Abraham Lincoln who was
the 19th I don’t know what’s the point
the 19th president mattered during that
time but the most important president in
America today is the one that’s the
current president which is Trump prior
to was Obama prior to miss you get the
idea everything that Gross must be a
replacement this is scientific parents
have kids kids replace parents their
legacy the grand father’s grandparents
played the role of advisors to the
parents on how to deal with their kids
and what the kids are upset at parents
they call grandparents this is a
scientific model of replacement one day
you and
gonna die and we’re gonna be gone and
the only people that come to our funeral
to people that matter to us and then
it’s gone Steve Jobs died many many
years ago many many years ago Apple
became a trillion-dollar company because
it’s a replacement game so the formula I
want to give you six things you need to
be thinking about when it comes down to
replacing yourself number one okay so
the first thing you got to do is you got
to make a list of all your tasks and
skills that you have so you say well I
make phone calls well I’m handling
finances I’m doing payroll I’m doing
this I’m doing that I’m doing this which
one of those tasks or skill sets are the
ones that you are the best at and which
ones are not the ones that are not you
need to replace yourself in that area
and get your time focused in the areas
that are your strengths the more you do
things that are tasks that are not your
strengths the value the company goes
lower that is one of the things you got
to do to replace yourself number two you
know the next thing you gotta do is you
got to figure out the list of people
that you have on your team what is their
seasons for instance we just hired
somebody here six months ago she got
hired for nine to 12 months she knows
about it this isn’t like it’s gonna be
surprised surprised you’re fired not at
all she knew she’s coming for nine or
twelve months what’s her job her job is
to get all the protocols procedures
systems of every single department so
she goes one by one by one interviewing
every single employee just hired eight
employees this week she interviews every
supervisor every employee on what do you
do next so after you do this then what
do you do then what do you do then what
do you do what then what’d he do and she
creates a stack of a hundred pages of
every single procedure for that
department and gives it to us that right
there is worth millions of dollars to
the business because and now we can have
anybody that comes in and put them
through the system to learn those
protocols but she knows her role is a
nine to twelve month you may have
somebody else’s role as CEO maybe a six
year old an eight year old maybe a CFOs
role maybe a five year old a six year
old to go through a part of going public
and you need to bring another person to
replace that knows how to handle a
bigger company
maybe compliance may be a ten year old
mate but you were figured I’m by the way
some people may do thirty years or 40
years lifetime but you can’t assume that
everybody is gonna be there forever
because some seasons are different and
which ones are replaceable now and is it
9-month replacement 1 year 5 year 10
year 20 or what is it time it so you
never surprise when somebody needs to be
replaced number 3 so now here’s the
other part so he said what I just talked
about what replacement is I’m talking
replacing home office staff let me talk
about sales here replacing sales leaders
a great sales leader is always replacing
himself or herself by replicating
herself or himself with new sales
leaders ok so for instance I’m Mary I
develop Bobby Bobby now learns how to
sell and lead his organization of 10
salespeople in his office in Nebraska
hypothetically he is a sales leader
there now I have to go back and develop
the next person and the next person and
the next person this could mean a call
center this could be a sales
organization this could be an online
internet digital marketing cell it
doesn’t matter support home office has a
lifespan on how long they stay not
always is it going to be as long as a
salesperson based on the system you run
a great salesperson based on a system
that lasts that’s replicatable kid last
3040 years and somebody that supported
maybe 6 12 months or maybe 2 or 3 years
number 4 maybe you’ve heard the stat
before that 70% of Fortune 500 companies
from 1960 are no longer around so
somebody may say well Pat they’re no
longer around because some of those
products are just not being used anymore
today so they’re extinct they’re gone
fair enough but let me make the other
point you some of them are not around
because of the replacement game not
being efficient here’s why because
culturally who replaces you has to fit
the culture so for example imagine if
the organization’s been built and
they’re used to such and such culture
that you’ve built based on your values
principles all this other stuff then all
of a sudden somebody else comes in that
doesn’t fit this culture that doesn’t
know what this culture is that like a
Scully he did great at Pepsi he didn’t
fit at Apple when he came through
why culturally it was not a fit this has
happened at so many different companies
before Home Depot did this as well
culture matters so much so when you are
finding a way to replace people at
higher positions of yourself you got to
make sure they have the culture down
number 5 so remember how earlier I told
you we had a lady too
came on board here with us and she’s
only working for about nine to twelve
months and she knows about it do you
also remember when I said what her job
was to go and figure out from every
single department what she needs to put
together for the protocols and systems
and procedures that’s exactly what you
got it with your companies well you have
to take the sheet of pay you either hire
somebody like her which is expensive or
you do it yourself and you simply go on
a board and you say when it comes on to
our sales flow what does it look like
actually write it up when it comes down
to incoming calls what’s the process
front desk clerk answers then it gets
filtered to this then we make a note on
this then in a note section you get
their names and you say this what’s the
next thing you do with the script when
you want to make a sales call first you
say that’s like for instance next door
girl here every time I leave she comes
and asked me question she sells
pharmaceuticals and I asked her question
I said so let me ask you a question
what are the top 25 fa Q’s that come up
when you sell your products this I don’t
know what you’re talking about I said go
to your sales manager and ask him what
are the frequently asked questions in
your product you sell she goes to their
sales manager and she comes back to me
she says they don’t have any and so what
kind of a sales place is this that they
don’t know the top 25 FAQ is being asked
you got to know it that is a flaw in
their business that doesn’t replace
themselves that much because it’s a
personality driven everything needs to
be in a manual wood step-by-step process
of procedures protocol systems so you
can hand to somebody else and they can
go do themselves as well and number six
so last but not least look valuable
company is dictator based on what kind
of leaders you have I had a staff
meeting with our home office team and I
said look who are you developing as a
leader give me your next three employees
that are going to become leaders in the
company and so what do you mean who are
you developing why so how do you develop
a leader it’s a lot of one-on-one
conversations it’s a lot of private
conversations it’s a lot of mindset
conversations it’s a lot of processing
issues conversations it’s a lot of
questions back and forth it’s a lot of
you know pulling things out and so what
do you think about this or how would you
do this differently and what do you
think could have been over here what
could we have done better in this place
that mindset it’s being injected into
your leaders and you’re hoping they take
that mindset inject into their leaders
and their leaders and then that becomes
a mindset that runs the company that
aspect of mindset replacement is another
aspect of leadership development which
increases the value your company so now
that you watch a video about replacing
yourself the next video you need
to watch is the number one video that
CEOs of multi-million multi-billion
dollar companies that send me emails
saying this is by far the best video on
value taemin but regular entrepreneurs
salespeople don’t watch this video the
title of this video is how to strategize as an entrepreneur
for very long time and stay relevant for
very long time understand the art of
replacement game now what do I mean by
the replacement game look the Lakers had
to find a way to replace Kobe because
they were irrelevant for three years
ever since he retired and they brought
LeBron James right you look at college
football teams I had people earlier here
from Omaha Nebraska talking about the
last time we were relevant was what 1997
because they made a mistake on the
replacement game this is the point you
hear as important as you and I think we
are as important as we think oh my gosh
I am so important because without me
nothing would ever happen that’s when a
value of a company stays small Microsoft
CEO and founder Bill Gates realized June
27 of 2008 that he needed to be replaced
and he stepped down as a CEO and new
CEOs came up and Microsoft about to be
the number three trillion dollar company
ever so today in this episode we’re
gonna talk about the replacement game
look one of hardest things have to
overcome as a founder and a seal was the
fact that Pat the more you matter the
less the company’s worth let me say this
one more time the more I matter the less
your company’s worth so if you matter
this much the company’s values here if
you matter less the company’s values
here why because you’ve replaced
yourself look this system in America and
many other countries is presidents get
replaced if I were to ask you right now
tell me who is the first president in
the history of America you may say
George Washington now what if I ask you
who was a seventh you’re stuck what if I
tell you 16th Abraham Lincoln who was
the 19th I don’t know what’s the point
the 19th president mattered during that
time but the most important president in
America today is the one that’s the
current president which is Trump prior
to was Obama prior to miss you get the
idea everything that Gross must be a
replacement this is scientific parents
have kids kids replace parents their
legacy the grand father’s grandparents
played the role of advisors to the
parents on how to deal with their kids
and what the kids are upset at parents
they call grandparents this is a
scientific model of replacement one day
you and
gonna die and we’re gonna be gone and
the only people that come to our funeral
to people that matter to us and then
it’s gone Steve Jobs died many many
years ago many many years ago Apple
became a trillion-dollar company because
it’s a replacement game so the formula I
want to give you six things you need to
be thinking about when it comes down to
replacing yourself number one okay so
the first thing you got to do is you got
to make a list of all your tasks and
skills that you have so you say well I
make phone calls well I’m handling
finances I’m doing payroll I’m doing
this I’m doing that I’m doing this which
one of those tasks or skill sets are the
ones that you are the best at and which
ones are not the ones that are not you
need to replace yourself in that area
and get your time focused in the areas
that are your strengths the more you do
things that are tasks that are not your
strengths the value the company goes
lower that is one of the things you got
to do to replace yourself number two you
know the next thing you gotta do is you
got to figure out the list of people
that you have on your team what is their
seasons for instance we just hired
somebody here six months ago she got
hired for nine to 12 months she knows
about it this isn’t like it’s gonna be
surprised surprised you’re fired not at
all she knew she’s coming for nine or
twelve months what’s her job her job is
to get all the protocols procedures
systems of every single department so
she goes one by one by one interviewing
every single employee just hired eight
employees this week she interviews every
supervisor every employee on what do you
do next so after you do this then what
do you do then what do you do then what
do you do what then what’d he do and she
creates a stack of a hundred pages of
every single procedure for that
department and gives it to us that right
there is worth millions of dollars to
the business because and now we can have
anybody that comes in and put them
through the system to learn those
protocols but she knows her role is a
nine to twelve month you may have
somebody else’s role as CEO maybe a six
year old an eight year old maybe a CFOs
role maybe a five year old a six year
old to go through a part of going public
and you need to bring another person to
replace that knows how to handle a
bigger company
maybe compliance may be a ten year old
mate but you were figured I’m by the way
some people may do thirty years or 40
years lifetime but you can’t assume that
everybody is gonna be there forever
because some seasons are different and
which ones are replaceable now and is it
9-month replacement 1 year 5 year 10
year 20 or what is it time it so you
never surprise when somebody needs to be
replaced number 3 so now here’s the
other part so he said what I just talked
about what replacement is I’m talking
replacing home office staff let me talk
about sales here replacing sales leaders
a great sales leader is always replacing
himself or herself by replicating
herself or himself with new sales
leaders ok so for instance I’m Mary I
develop Bobby Bobby now learns how to
sell and lead his organization of 10
salespeople in his office in Nebraska
hypothetically he is a sales leader
there now I have to go back and develop
the next person and the next person and
the next person this could mean a call
center this could be a sales
organization this could be an online
internet digital marketing cell it
doesn’t matter support home office has a
lifespan on how long they stay not
always is it going to be as long as a
salesperson based on the system you run
a great salesperson based on a system
that lasts that’s replicatable kid last
3040 years and somebody that supported
maybe 6 12 months or maybe 2 or 3 years
number 4 maybe you’ve heard the stat
before that 70% of Fortune 500 companies
from 1960 are no longer around so
somebody may say well Pat they’re no
longer around because some of those
products are just not being used anymore
today so they’re extinct they’re gone
fair enough but let me make the other
point you some of them are not around
because of the replacement game not
being efficient here’s why because
culturally who replaces you has to fit
the culture so for example imagine if
the organization’s been built and
they’re used to such and such culture
that you’ve built based on your values
principles all this other stuff then all
of a sudden somebody else comes in that
doesn’t fit this culture that doesn’t
know what this culture is that like a
Scully he did great at Pepsi he didn’t
fit at Apple when he came through
why culturally it was not a fit this has
happened at so many different companies
before Home Depot did this as well
culture matters so much so when you are
finding a way to replace people at
higher positions of yourself you got to
make sure they have the culture down
number 5 so remember how earlier I told
you we had a lady too
came on board here with us and she’s
only working for about nine to twelve
months and she knows about it do you
also remember when I said what her job
was to go and figure out from every
single department what she needs to put
together for the protocols and systems
and procedures that’s exactly what you
got it with your companies well you have
to take the sheet of pay you either hire
somebody like her which is expensive or
you do it yourself and you simply go on
a board and you say when it comes on to
our sales flow what does it look like
actually write it up when it comes down
to incoming calls what’s the process
front desk clerk answers then it gets
filtered to this then we make a note on
this then in a note section you get
their names and you say this what’s the
next thing you do with the script when
you want to make a sales call first you
say that’s like for instance next door
girl here every time I leave she comes
and asked me question she sells
pharmaceuticals and I asked her question
I said so let me ask you a question
what are the top 25 fa Q’s that come up
when you sell your products this I don’t
know what you’re talking about I said go
to your sales manager and ask him what
are the frequently asked questions in
your product you sell she goes to their
sales manager and she comes back to me
she says they don’t have any and so what
kind of a sales place is this that they
don’t know the top 25 FAQ is being asked
you got to know it that is a flaw in
their business that doesn’t replace
themselves that much because it’s a
personality driven everything needs to
be in a manual wood step-by-step process
of procedures protocol systems so you
can hand to somebody else and they can
go do themselves as well and number six
so last but not least look valuable
company is dictator based on what kind
of leaders you have I had a staff
meeting with our home office team and I
said look who are you developing as a
leader give me your next three employees
that are going to become leaders in the
company and so what do you mean who are
you developing why so how do you develop
a leader it’s a lot of one-on-one
conversations it’s a lot of private
conversations it’s a lot of mindset
conversations it’s a lot of processing
issues conversations it’s a lot of
questions back and forth it’s a lot of
you know pulling things out and so what
do you think about this or how would you
do this differently and what do you
think could have been over here what
could we have done better in this place
that mindset it’s being injected into
your leaders and you’re hoping they take
that mindset inject into their leaders
and their leaders and then that becomes
a mindset that runs the company that
aspect of mindset replacement is another
aspect of leadership development which
increases the value your company so now
that you watch a video about replacing
yourself the next video you need
to watch is the number one video that
CEOs of multi-million multi-billion
dollar companies that send me emails
saying this is by far the best video on
value taemin but regular entrepreneurs
salespeople don’t watch this video the
title of this video is how to strategize as an entrepreneur
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