Rich Allen is the founder of Tour de Profit, a company aimed at helping small business owners avoid failure and achieve success. As a business coach, Rich draws on his own father's negative experiences as an entrepreneur, and his own positive experiences building and growing his business to help other small business owners avoid the same pitfalls. Rich and John discuss his two books and his metaphor for understanding the key elements of your business. How is your business like a bike? Tune in to find out.

 

Key Takeaways:

[:19] John introduces his guest for this episode — Rich Allen.

[1:45] What are Rich's books about?

[4:15] Rich's dad was an entrepreneur. How has that informed his perspective and how he advises people?

[6:35] What made Rich want to overcome his father's challenges and go down the same path, despite the negative experiences?

[9:55] John reflects on how cool entrepreneurship has become and how the media focuses on the sexy part of entrepreneurship, but it's a very difficult road to be on.

[11:30] There has been a change in the economy from the past. Where in the past, most people worked for large corporations, now the economy is driven by small business owners.

[13:22] Rich uses a bike in his books as a metaphor. He explains what this metaphor means with regard to steering the business in the right direction.

[17:17] Rich gives another example of how a business is like a bike in terms of its wheels and brakes.

[21:34] How do the indicators on your bike relate to your business?

[25:33] What does the seat of a bike represent in a business?

[27:18] John and Rich discuss millennials in business and the kind of compensation packages they demand.

[31:00] The last aspect of a bike that reflects a business is the water bottle — it's your clarity break.

[40:08] Rich used the framework that he had created to analyze and solve the problems in his father's business, and in his own business too.

[44:23] What is Rich's superpower?

[48:02] Rich adds one more thing to the bike analogy — your team in business is like a peloton (a group of riders).

[50:32] What app or technology does Rich use that impacts his day-to-day life?

 

Mentioned in This Episode:

Rich Allen, Tour de Profit

Tour de Profit: A 52 Stage Race to Grow Your Business, by Rich Allen

The Ultimate Business Tune Up: A Simple Yet Powerful Business Model That Will Transform the Lives of Small Business Owners, by Rich Allen

Start with Why: How Great Leaders Inspire Everyone to Take Action, by Simon Sinek

Drive: The Surprising Truth About What Motivates Us, by Daniel Pink

Leaders Eat Last: Why Some Teams Pull Together and Others Don't, by Simon Sinek

Predictable Success, by Les McKeown

Trello

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