This week’s Misfit Entrepreneur is Carl Gould. Carl Gould is a worldwide leading authority on business and entrepreneurship. He is an entrepreneur who built three multi-million-dollar businesses by age 40. His company, 7 Stage Advisors, has mentored the launch of over five thousand businesses. Some of the companies he’s helped are companies like Allstate, American Idol, USA Olympic Track, IBM, McGraw-Hill and the US Army.
Carl created the farthest-reaching business mentoring organization in the world, and his methodologies are in practice in 35 countries. He has trained, certified or accredited over 7,000 Business Coaches and Mentors since 2002.
He has also written multiple books on the subject of business strategy, leadership and sustainable growth. He co-authored “Blueprint for Success” with Stephen R. Covey and Ken Blanchard; and his best-selling book, “The 7 Stages of Small Business Success”, lays out the formula for HyperGrowth. Needless to say, Carl is a wealth of entrepreneurial wisdom and I’m going to do my best to get everything I can out of him in our time together.
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Carl’s journey started in college. He was an accounting and finance student. He broke his leg pretty badly in his second year and had to leave school. He found himself with a broken leg that took 6 months to get better, broke, and needing to make money.
He started a design/build landscape company and doubled it every year for 7 years then sold. Then in the early 90’s, he started a construction company and grew it to 2004. He started coaching in 1990 after going through certifications. It was his side hustle in the 90’s. He then started his coaching/strategy business in the early 2000’s.
His passion is coaching and guiding small business owners. He still invests in other companies, real estate, etc.
What is the one thing you think matters most for success as an entrepreneur?
Absolute 100% dogged determination. Among all the traits of entrepreneurs, resilience and determination are most critical. Adversity is always there, and the key is to keep getting back up and doubling down on yourself, your business, and you clients. If you keep showing your commitment that you will serve no matter what, you will see it through. At the 8:30 mark, Carl shares his view on the short attention spans we have and how he sees it in context of success…
The level of content has gotten so good that people are better educated consumers. People don’t cancel what they love, they cancel what stinks and is boring. They can see through it. It’s exciting because you have to be so on your game, but are rewarded, almost unfairly when you are. People are hungry for greatness. Take us through the 7 Stages of Growth and Business Success…
Carl developed this in the 90’s. It is model that has been validated over the years. Stage 1: Strategic Planning Stage. You need to have a compelling and inspiring vision and plan for the business. Stage 2: Specialty Stage. This is where you build your expert authority in your niche. Stage 3: Synergy Stage. This is where you build a team that is aligned with mission, vision, values, and purpose. Stage 4: Systems Stage. Document and build out the ecosystem to scale the business. Stage 5: Sustainability. You are starting to be known for something other than the utility of your product or service. Stage 6: Saleability. You maximize the value of your business and it is now an asset. There is also where you are mature and doing things like buying other companies or going public, etc. Stage 7: Succession. This is when a legacy business is born and is lasting. Sequence matters. You have to go through each stage and maximize it before going to the next one. How does and entrepreneur execute in each stage?
It is like going through the years of school. You have to fully imme