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In this episode, Mike Scott dives into the importance of challenging assumptions in business. From personal anecdotes to practical advice, Mike explores how identifying and questioning assumptions can lead to better decision-making and a more resilient company culture. Tune in to discover how embracing this mindset can transform your business processes and foster a culture of psychological safety.

Find out more about working with me or about applying to join the ILN. mike@smbmastery.com.au

https://www.linkedin.com/in/mikeadamscott/

https://theintentionalleaders.com/

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summary

In this conversation, Mike Scott and Simon Hareb discuss the creation of the Intentional Leaders Network, a program and community designed for business owners who have experienced success but seek to integrate intentionality into all aspects of their lives. They explore the challenges leaders face, the importance of accountability, and the process of self-discovery that the network facilitates. The conversation emphasizes the need for a supportive community and the tools that can help leaders achieve personal and professional growth.

Takeaways

• The Intentional Leaders Network aims to support business owners in integrating their personal and professional lives.
• Leaders often struggle with alignment between their values and actions, which the network seeks to address.
• Intentionality is crucial for sustainable leadership and personal growth.
• The program includes a pre-work phase to help individuals reflect on their values and goals.
• Cohorts provide a supportive environment for leaders to share experiences and hold each other accountable.
• The offsite experience is designed to facilitate deep self-reflection and clarity on personal identity.
• Participants are encouraged to confront hard truths and commit to their growth journey.
• The network is specifically for business owners who are ready to invest in their personal development.
• The process is iterative, allowing for continuous growth and adaptation to changing circumstances.
• Community and accountability are key components of the network's success.

Chapters

00:00
Introduction to Simon and Context of the Conversation

03:11
The Intentional Leaders Network: Concept and Purpose

06:06
Identifying the Target Audience and Their Needs

09:10
The Importance of Intentionality in Leadership

11:58
The Process of Self-Discovery and Growth

14:55
The Offsite Experience: Tools and Techniques

17:52
Building a Supportive Community for Leaders

20:59
The Role of Accountability in Personal Growth

23:49
Defining the Ideal Participant for the Network

27:09
Final Thoughts and Call to Action

Want to connect with Simon?

simon@theintentionalleaders.com

https://www.linkedin.com/in/simonhareb?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app

Find out more about working with me. mike@smbmastery.com.au or https://www.linkedin.com/in/mikeadamscott/

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In this conversation, Mike discusses the critical importance of having open and honest discussions about equity distribution among co-founders when starting a business. He emphasises that while many assume a 50-50 split, this often leads to complications later on. Drawing inspiration from the book 'Slicing the Pie', he outlines a structured approach to fairly allocate equity based on contributions such as cash, time, resources, and intellectual property. By tracking these contributions and applying multipliers based on scarcity, co-founders can engage in meaningful discussions about equity that foster trust and transparency, ultimately leading to healthier business relationships.

Takeaways

• Equity discussions should happen early to avoid complications later.
• Assuming a 50-50 split can lead to resentment and conflict.
• Using a structured approach helps in fair equity distribution.
• Tracking contributions is essential for transparent discussions.
• Multipliers can reflect the scarcity of contributions.
• Difficult conversations are necessary for building trust.
• A Google sheet can simplify tracking contributions.
• Equity discussions should be based on data, not emotions.
• Building a high-trust relationship involves open communication.
• Avoiding difficult conversations can harm future partnerships.

Chapters

00:00
The Importance of Equity Discussions

02:11
Mechanisms for Fair Equity Distribution

06:46
Tracking Contributions and Future Discussions

11:03
Building Trust Through Transparency

Here is the book reference: https://slicingpie.com/book/

Find out more about working with me. mike@smbmastery.com.au or https://www.linkedin.com/in/mikeadamscott/