Build Your Habits Based On Who You Need to Become | 705
In this episode of The Daily Dose of Dave, Dave Lorenzo dives into the concepts of delegation, leverage, and identity-based habit formation. Prompted by a question from Tom Scarda, Dave reframes the challenges of delegation into a broader discussion about treating a business like an investment. He explains how identity drives habits, which in turn influence outcomes, and emphasizes the importance of adopting a CEO mindset to create scalable success. This episode also explores the advantages of franchises for business growth and how following proven systems can lead to transformative results.
Key Topics:
- Delegation vs. Leverage:
- Why the word "delegation" can feel uncomfortable, but "leverage" reframes it into a growth mindset.
- The importance of building systems to minimize owner dependency in a business.
- Identity and Habits:
- How your perception of yourself as a CEO shapes the daily habits needed for success.
- “Rich people habits” vs. “poor people habits” and how habits dictate outcomes.
- Franchise Success Strategies:
- Treating a franchise as an investment by leveraging systems already in place.
- The importance of adopting the mindset of a multi-store owner from day one.
- Lessons learned from Tom’s smoothie franchise experience, such as scaling by outsourcing tasks like washing washcloths.
- The E-Myth Philosophy:
- Insights into why some people unintentionally buy themselves a job instead of a business.
- The scalability barriers in businesses without franchise-like structures.
Key Quote:
“Your identity is going to govern what your daily behaviors are, and those behaviors will become habits. Think about who you are or who you want to be and start acting like that person now.” – Dave Lorenzo
Takeaways:
- Reframe Delegation: View it as finding leverage to scale and remove dependency on the owner.
- Shift Identity: Act like the CEO of a multi-store operation to build scalable systems.
- Follow Proven Systems: Whether in franchises or self-owned businesses, proven frameworks can fast-track success.
- Invest in Habits: Small daily behaviors consistent with a CEO mindset lead to long-term success.
- Leverage Coaching: Coaching can help business owners see their blind spots and unlock potential.
This episode is a must-listen for entrepreneurs, franchise owners, and anyone looking to break free from being overworked and under-leveraged in their business.