Defining Your Why with Dean Mercado

If you’re a small business owner, you obviously want to create a profitable company. But have you ever stepped back to ask - really and truly - why you want to be financially successful? The ability to answer that question might be the difference between prosperity and failure. It’s one thing to want to make money; it’s quite another to think about why making money is important to you. This might sound like a question you should ask your therapist, but Dean Mercado, the Founder, and CEO of Online Marketing Muscle and Best Selling Author of The MINDStretch: 49 Inspiring Insights for Business Breakthroughs, suggests that answering this question may be the key to growing your business more than you ever thought possible. Join Meny as he and Dean talk about why the “Why” matters, Dean’s recommendation that a small business owner should make himself unnecessary, the secrets to finding a good business coach, the importance of having an accountability partner, and much more. Dean Mercado, Founder, and CEO of Online Marketing Muscle and Best Selling Author of The MINDstretch: 49 Inspiring Insights For Business Breakthroughs, is a well-respected small business coach, author, and speaker with expertise in helping small business owners raise their game and level up their business. With a professional career spanning four decades, he has served many roles, mostly revolving around his passion for marketing, technology, and leadership. Dean’s articles have appeared in numerous publications, including Inc. Magazine, Investor’s Business Daily, and Crain’s Business News. Key Highlights: [00:01 - 07:32] Opening Segment • Introducing "The Mind Stretch: 49 Inspiring Insights for Business Breakthroughs" • Dean shares his background and story His expertise in helping small business owners around the globe raise their game and level up their business [07:33 - 14:37] Staying Focused on What's Important • Clarity is key for entrepreneurs to be successful and happy Why business is simple but not easy • Keeping focused on what moves the needle is essential • How a coach can help bring clarity and truth to an entrepreneur's goals [14:38 - 22:07] Unlocking Business Growth Through Mind Stretch • Accountability is a key factor in successful coaching • The best reason to hire a coach is that they can recognize patterns that most people don't see A business will only grow to the degree that the owner's mindset will grow • Why it is important to stretch the mind before stretching the business [22:08 - 29:13] Maximizing What Works for Entrepreneurs • Why vision is the core, and mindset is the outer band that needs to be stretched How habits are what make goals successful or not successful • Goals should be SMART (Specific, Measurable, Actionable, Realistic, Timely) • Why reflecting on what worked and didn't work is important for success Maximize successes and reduce failures [29:14 - 36:23] How a Coach Can Help Leaders Make the Right Changes • How getting a coach can help you change habits and hold you accountable Set realistic goals that are aligned with your mission and vision • Make sure to break down goals into 3 strategic initiatives per quarter Create a game plan so you know what to do every day [36:24 - 43:32] Get Real About Your Numbers & Understand the Truth Behind Your Business • Mindset is the most important investment for an entrepreneur Entrepreneurs need to be honest with themselves and their numbers • Knowing your numbers is essential to understanding the truth of your business Having a good coaching system that aligns with your values is key • Chemistry between coach and client is important for success [43:33 - 52:51] Closing Segment • The best coaches will hold you accountable and fire you if it's not a good fit. • Dean on the rapid four questions • Q&A: How could I make sure that I don't fall into that category? Want to connect with Dean? Follow him on LinkedIn, and YouTube. Check out his website to transform your vision into reality! Key Quotes: "Habits are what make goals successful or not successful." - Dean Mercado "If I don't become more, I will not have more. So the more value I could add, the more value I'll receive in return." - Dean Mercado "Working towards expanding the mind is never a bad investment." - Dean Mercado Connect with Ptex Group: Facebook, Instagram, Twitter, LinkedIn LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve in business. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts!