EP41 - How to Scale a Business: The Pike Place Story

One of my favorite books is “The E-Myth” by Michael Gerber. In the book Michael talks about the difference between a practitioner verses an entrepreneur.  A practitioner is someone who builds a business around them. An entrepreneur builds a business around processes to deliver a quality product and experience to a customer which can be duplicated over and over.

 

In today’s podcast, I want to talk about the most important part of building a business – making it scalable. I have spent my career studying what makes businesses successful, I mean truly successful and there are some commonalities among all of them. 

 

To show how to do it, I’m going to talk about one of my favorite examples: a coffee shop in Seattle which turned one location in Pike Place into 12,000 locations worldwide, a market capitalization of $128 billion dollars and a global phenomenon - Starbucks!

 

I’ll share with you the formula they used and how you can implement it into your business.

 

Are you building your business to be scalable? I’d love to talk with you about it over a virtual coffee and show you how to do it! You can schedule a time with me at https://aspect.ipcc.ca/turning-the-page-podcast#grabcoffeewithchris 

 

If you loved this episode, I’d appreciate it if you would follow Turning the Page on Apple, Spotify or whatever podcast app you use!  If you found the information helpful, be sure to share it with another financial advisor who could use these words of wisdom!

 

Chris