Ep. 460: Become the Leader You Were Born to Be (with Michael McFall)

Can Your Business Survive without You?

If you want your business to remain sustainable and thrive, then as the owner, you need to become irrelevant.

Today’s Stay Paid guest is Michael J. McFall, cofounder and co-CEO of the wildly successful Biggby Coffee chain, and author of Grind: A No-Bullsh*t  Approach to Take Your Business from Concept to Cash Flow and Grow: Take Your Business from Chaos to Calm. Michael started his first restaurant in an old Arby’s building in Lansing, Michigan. Today, Biggby Coffee has more than 280 franchise locations in the United States.

These days, Mike has been working to teach other entrepreneurs how to build their fledgling businesses into thriving enterprises. There’s a lot that goes into that process, but a big part of it requires wrestling some of the control of your business away from one person—yourself.

As a hardworking, driven entrepreneur, it might seem irrational to take yourself out of the equation, but that’s what Mike says your goal should be—to become irrelevant. At Biggby Coffee, he’s about 90—95% nonessential. If a bus were to hit him tomorrow, Biggby Coffee could easily go on.

How to scale your business

So how do you get to the point where you can fully entrust the management of your company to your team? The key is to build a positive business culture where the best of the best will want to work.

In case you’re wondering, a good company culture is one in which your employees feel supported, nurtured, and loved. While you might not typically think of “love” as a successful business strategy, Mike says it’s essential for creating the environment that will attract the talent you’ll need to grow. The stronger and more skilled your team is, the more able you’ll be to scale your business to the heights of success you know it can achieve. 

We hope you enjoy this episode and act on the advice Luke offers at the end. We’d also appreciate it if you took a moment to leave us a 5-star review and comment on Apple Podcasts. (We read them on air!) Thanks for listening!

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