72. Building a Sustainable Company That Scales | Babak Azad

The ONE Thing

NOVA Media

Entrepreneurship, Business, Careers

4.8 • 1.1K Ratings

🗓️ 11 September 2017

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

A business isn't just something that makes money, helps customers, or delivers value – it's a vehicle for you to live a BIG life and finance your life's purpose. However, if you want to build that vehicle, you need to start by building a sustainable company. Babak Azad is the former Senior Vice President of Media and Acquisition at Beach Body, creators of P90X, Insanity, and Shakeology. He led the team that grew the company from $100M to $1B in revenue, and he did it while building trust with their customers. He shares how you can develop a mindset that will help you strike a balance between delivering short-term revenue and building a brand that people trust. The ONE Thing to Implement From This Episode: If you want to build a sustainable business, you need to make the word brand part of your daily lexicon and treat your customers the way they want to be treated. You can start by considering the following questions: What is the experience your customers want and prefer? How can you create a great experience for them? Living The ONE Thing is a lifelong journey, and the goal is not to be perfect. You're a human, and you're likely going to fail... but will you get back on the horse, move forward, and try to do better the next day? In this episode you will learn... [8:10] The two key components of a brand. [11:05] ONE question we wish we had asked ourselves earlier. [16:20] How you can strike the right tension between short-term revenue and long-term trust. AWESOME FREE RESOURCES FOR YOU! The Kick Ass Guide To Accountability Form your first power habit with your 66 Day Challenge Calendar Check out our awesome blog! [FREE Training] How to Start Time Blocking TODAY! Links & Tools From This Episode Read Babak’s blog: BabakAzad.com Learn more about Round Two Partners: RoundTwoPartners.com Production & Development for The ONE Thing Podcast by Podcast Masters Mentioned in this episode: Factor 75 Head to FactorMeals.com/one50 and use code one50 to get 50% off. That’s code one50 at FactorMeals.com/one50 to get 50% off! Factor 75

Transcript

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0:00.0	The golden rule is wrong.
0:02.0	The golden rule is do unto others as you would have done unto you.
0:05.0	Ultimately, it's the other way around.
0:08.0	It's do one to others as they would prefer to have done unto them.
0:10.0	This is the one Thing podcast where we teach you the surprisingly simple truth behind extraordinary
0:18.2	results.
0:20.9	My name's Jeff Woods.
0:21.9	I'm the Vice President here at the One Thing team.
0:25.0	About a month ago I was in a training with Gary Keller where he was teaching us
0:29.0	about what it means to truly build financial wealth. Those notes ended up becoming episode 59 so if you
0:36.1	missed that episode go back and listen to that one. One of the things that he said and I'm
0:40.2	paraphrasing here is that a truly wealthy person has enough passive income to fund their life's purpose.
0:46.0	The way that we view businesses is not just something that makes money or that helps customers or delivers value, it's a vehicle for you to live a big life,
0:57.3	for you to live a life and make the kind of impact that you
1:05.0	building a sustainable company that scales.
1:10.0	This is a question that has been in the back of our mind for the last few years.
1:15.0	Since the beginning of the podcast, we've been very transparent about the mistakes we made.
1:19.0	In fact, episode 9 was titled, The Big Mistake we made that you may be making right now.
1:24.6	For the first year in business, we focused on selling.
1:27.4	We focused on driving revenue, growing the business.
1:31.7	The problem with that was that we were not considering you. We weren't
1:37.2	considering the customer experience. We weren't considering the brand that we were building.
	...

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