Profit as a Byproduct: Mastering the Two P's of Business

In this episode, Aaron Leatherdale discusses the importance of people and process in building a successful business. He emphasizes that profit should not be the main focus, but rather a byproduct of having the right people in the right roles and well-defined processes. Aaron shares his experiences with unsuccessful ventures and how he learned the value of prioritizing people and process. He also highlights the importance of fixing bad processes and matching individuals with roles that align with their strengths. Ultimately, Aaron encourages entrepreneurs to maintain a long-term mindset and focus on building a solid foundation for their businesses.

TAKEAWAYS

• The two P's of building a successful business are people and process.
• Profit should be a byproduct of having the right people in the right roles and well-defined processes.
• Fixing bad processes is crucial for empowering employees and improving overall efficiency.
• Matching individuals with roles that align with their strengths is essential for success.

CHAPTERS

00:00 The Importance of People and Process

02:03 The Two P's: People and Process

03:29 Building a Solid Business Foundation

04:54 Profit as a Byproduct

06:20 Fixing Bad Processes

08:43 Identifying the Right People and Roles

10:10 Profit as a Result of People and Process

12:37 Maintaining a Long-Term Mindset

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