Herman ProAv, Co-CEO Jeffrey Wolf’s exit strategies to get what you want when transitioning to new owners.
(Recorded live on Clubhouse April 16, 2021.)
Wolf shares what it takes to sell a company from an entrepreneur’s perspective as well post acquisition considerations. For him this was especially important given he wanted himself and the team to stay on and continue to grow the company with the new owner. We discuss the emotional impact of exiting for all employees, finding the right buyer, and what we’ve learned from making big mistakes.
Moderators: Colin C. Campbell, Michele Van Tilborg, Rachael Lashbrook
When I finally decided to give it a try, I was surprised to find that it was strangely comforting to be peripherally part of a community while I was working and going about my day — and absent of a physical office with actual coworkers.
If you’re unfamiliar with the app like I was, here’s a basic rundown of what it’s like.
This is what your main “timeline” looks like in the Clubhouse app
The Clubhouse main timeline.
It’s populated by rooms, or conversations, associated with the the people and clubs that you follow. Some of the topics I followed to inform the app of the kind of rooms I’d like were: television, storytelling, movies, current events, photography, wellness, meditation, AI, and startups.
I made sure to join one of the largest clubs on the app, Startup Club, with almost 450,000 members and followers.
The explore tab in the app.
There were rooms about NFTs, bitcoin, news, meditation, founder advice, coding, Reiki healings, startups, wellness, history, and more than I would think possible. There’s also a button at the bottom of the screen to start …
This week’s show continues our focus on the bestselling business author and last week’s guest, Verne Harnish. He is the author of Mastering the Rockefeller Habits and Scaling Up among others that you should definitely check out.
Even though many entrepreneurs achieve their success based on “gut instincts”, it’s still important early on to put systems in place that can help the business to focus, maintain and grow in a way that’s measurable and actionable.
Accountability
The scaling-up process involves yearly and quarterly meetings as well as weekly meetings and daily huddles to monitor and direct progress as well as give employees the chance to get help and direction when facing obstacles.
Oftentimes startup entrepreneurs with small staff look at long-term processes as something that needs to be done later on, but that’s not really the case. Even if the staff is small, having measurable goals and strategies gives you the opportunity to meet and assess whether you are meeting, exceeding, or missing your goals. And as the company grows, this type of format can be used by teams and divisions to set their goals within a larger company setting.
The weekly meeting and daily huddle can be very powerful tools because it makes people accountable. There are goals and objectives assigned to people, those people are then responsible and take ownership of those tasks and those tasks are then assessed.
Delegation
At the beginning of a company, an entrepreneur may find themselves getting involved in all of the little details that it takes for a company to be successful. But at some point, an entrepreneur needs to start to let go and actually delegate responsibilities to other people on the team, which is great for the leader and it is also how you scale a company. You cannot scale a company as a solo entrepreneur, you will learn quickly that it takes a confident team who can take ownership of responsibilities and spearhead tasks.
Also, a company’s core values grow and mature over time, but they should always be an important part of the decision-making process. Keeping core values aligned with your brand and business will maintain the health and integrity of your business overtime. By delegating responsibilities and tasks, you create leaders that can look at the company’s core values and feel confident in making decisions based on those values.
Leadership
In order for an entrepreneur to be able to delegate items to a team, it’s really important early on to find managers that complement your weaknesses. You cannot do everything yourself. You have to learn to hire and build a team of people who are capable and trust them to do the jobs you’ve hired them to do.
You can listen to the full session above! Happy Reading & Happy Listening!
Hear the three crucial components needed to grow your business from entrepreneurial icon and EO founder Verne Harnish.
(Recorded live on Clubhouse on April 6, 2021.)
Today, we’re picking it back up with Verne Harnish to highlight the three important foundation steps to put in place to support a business: accountability, delegation, and leadership. What to do when your “gut instinct” fails you, and the importance of having core values, getting internal influencers on board, and keeping it simple.
Moderators: Colin C. Campbell, Jeff Sass, Michele Van Tilborg
This week we welcomed Verne Harnish to the stage to talk about your business, scaling it up, and how to make it.
From what I’ve gathered, just by listening to Verne speak and also from my observations here in the office with my team and CEO implementing Verne’s methodology, this man is next level pro. He’s kept it simple, made smart maneuvers, and probably most important for anyone and any business, he has kept it consistent. In my opinion, consistency is what makes or breaks most endeavors.
If you have not yet experienced a presentation, video, or talk with Verne, then hopefully you glean from the recording that he is a seasoned and talented speaker. He is truly lovely to listen to and talk with, bringing a level of camaraderie, humanity, and relatability to his podium. I can’t help but to just nod enthusiastically in agreement as he offers incredible insight, pro-maneuvers, and hot tips along with just good ol’ practical and sage advice. Let’s dive in!
Listen to the full session above!
ProTips
1. Acquire or buy a company rather than build from scratch
2. Balance feminine + masculine approach to business, especially in terminology and implementation
3. Own the word
4. Get influencers on board
5. Core Values – create a level playing field so that your team can make decisions and defend that decision against the core values.
And so much more! We’re getting back in there next week with an OpenMic to talk with YOU our readers and listeners, about how you implement Scaling Up in your enterprise or how Verne’s methodologies have helped you along the way.
Award-winning author and successful entrepreneur Verne Harnish shares how to build an industry-dominating business.
(Recorded live on Clubhouse on April 2, 2021.)
In this session, Verne Harnish shares his experience as an entrepreneur and consultant, and his methodology to growing a company that works for you, rather than against. Verne is the founder of Entrepreneur Organization (EO), as well as Young Entrepreneurs Organization (YEO). Verne’s methods are from his book, ScalingUp, all about driving your business forward and creating momentum for growth.
Moderators: Colin C. Campbell, Michele Van Tilborg
This week we talked about clubs, the structure and vision of your club, and whether it is a community or a business.
Often times “community” and “business” are used interchangeably. Most would say that any business IS a community. We go to restaurants not just for the food, but for the ambiance, the vibe, and hospitality, the community. I go to my CrossFit gym, not just for the service provided by my coaches, but for the community of my gym mates and the camaraderie.
As Gary Henderson put it, the vision and intention of…
Learn about monetizing your business on and off Clubhouse!
(Recorded Live on Clubhouse March 26, 2021)
Listen in as Clubhouse creators Gary Hendersen, popular influencer coach, and Edna Bibb discuss the structure and vision for their club. They’ll share insights on building a community and business with the Startup.club audience including result-driven methods. We’ll learn how Gary is utilizing time tested marketing strategies to engage and monetize on and off of Clubhouse such as promotional offers for paid classes and coaching using Rally coins while always focusing on helping others.
Moderators: Colin Campbell, Jeffrey Sass, Michele Van Tilborg, and Rachael Lashbrook Speakers: Gary Hendersen from Gary.club and Edna Bibb from Solar.club
We brought Rich Goldstein and Priscilla Nunez on to talk about protecting our clubs and brands in Clubhouse. Before getting started it is imperative that I tell you, what you will read and hear on this session is NOT legal advice, it is an informal conversation with soft suggestions. Anything you hear or read here is for information and entertainment purposes and not legal advice or suggestions of actions you should take. Remember that our club gives to get and we are only offering education here.
Can You Trademark a Club on Clubhouse?
Most people first think of trademarking their Club on Clubhouse when trying to protect their Club. However, acquiring a trademark requires two distinct properties. Whatever you’re trying to trademark must be distinctive and you must be able to prove that you’re using the trademark in association with a product or service that you’re offering, referred to as a specimen. Both of these requirements can make it difficult to trademark a Club.
Let’s look at the first requirement of the trademark being distinctive. If your Club is only a descriptive name, that’s not considered distinctive. For example, you cannot trademark red licorice because it simply describes a product, but Coca-Cola can be trademarked since it’s a distinctive product and brand. However, if your Club name is distinctive, it may fulfill this requirement. You could also combine a distinctive name with a descriptive name, so you may be able to trademark the distinctive name but still have the descriptive name for SEO purposes.
As for the second requirement, you need to show the Trademark Office that the trademark is used in association with a product or service. This is typically shown by providing the label of a product, or a webpage or advertisement succinctly illustrating that the product or service is for sale. You might be able to fulfill this requirement with a website showing what your Clubs on Clubhouse offer with panel discussions. However, you might need to provide a specimen outside of Clubhouse that’s related to the trademark you’re attempting to acquire.
How Can You Protect Your Clubhouse Content?
Thankfully, protecting your content is far easier. In fact, you really don’t need to do anything to protect your content as it would be protected under copyright instead of a patent or trademark.
You do not need to register a copyright to have protection. Instead, copyright protection automatically occurs when the work is fixed in a tangible form. So, this means that as soon as content is written and fixed, it is under copyright protection. For a Clubhouse session, having the content fixed in a tangible form would mean that the session needs to be recorded in any format. However, if the session is not recorded, it is likely not copyrighted because any content recalled would be considered interpretation of ideas. So, to protect your Clubhouse content, make sure to record your sessions even if you do not upload them or share them. Simply recording it and saving it is usually sufficient for copyright protection.
It’s also important to note that copyright does not protect your ideas, but rather expression. Essentially, it protects how you frame the idea instead of the idea itself. So, the way you frame your ideas and explain them are protected, but the idea itself is not. This circles back around to why it’s recommended that you record your expression of your idea, tangibly.
We want to thank Rich and Priscilla for their time and contribution in continuing to educate and inspire entrepreneurs globally. We’re also so grateful to our listeners and moderators, for making our sessions on Clubhouse and with Serial Entrepreneur an exciting place to meet and collaborate. Please tune in next week for Scaling UP with best-selling author Vern Harnish, details and link in our Upcoming Events.
Hear IP Strategies & Ideas Around When To Consider Investing In Their Protection
(Recorded live from Clubhouse on March 19, 2021)
Our guest speakers Rich Goldstein, Patent Attorney, and Priscilla Nunez, COO AI Leadership Institute help us navigate core legal considerations from a practical point of view, such as scalability and profitability, when deciding when to invest in trademarking and copyrighting. We’ll also learn ways to improve and manage a name defensible plan. Specifically for clubs, we discuss their unique opportunities in conjunction with the use of a .club domain name for a website as a method to brand, grow and connect outside of the app.
Important Notice: This session is NOT legal advice, it is an informal conversation with soft suggestions. Anything you hear or read here is for information and entertainment purposes and not legal advice or suggestions of actions you should take without first consulting your legal advisor.
Moderators: Colin Campbell, Jeffrey Sass, and Rachael Lashbrook Speakers: Rich Goldstein and Priscilla Nunez
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