Online Marketing Made Easy with Amy Porterfield

#589: A Real-Life Look At Making The Switch From A Personal Brand To A Company Brand With Clint Salter

Thu Jul 13 2023

personal brandcompany brandentrepreneurshipbusiness growthteam buildingselling a business

Description

The episode discusses the transition from a personal brand to a company brand, providing insights on the benefits, challenges, and steps involved. It emphasizes the importance of having systems in place, introducing new voices over time, and building an organization with the right people. The episode also explores selling a business and embracing new opportunities. Throughout the discussion, Amy Porterfield and Clint Salter share their experiences and provide practical advice for entrepreneurs.

Insights

Transitioning to a company brand

Transitioning from a personal brand to a company brand can be done even if you're more established. It's recommended to transition when your business is around $1-1.5 million. Building a company brand requires introducing new voices and perspectives over time.

Challenges of transitioning

Personal resistance and team resistance are common challenges when shifting to a company brand. Letting go of control and having systems in place can make it easier. Communicating consistently with your team about the new mission and vision is crucial.

Building an organization with the right people

Trusting the team to make decisions and learn from mistakes is important. Giving feedback without imposing direction promotes independent thinking. Flexibility and creativity are key advantages of personal brands.

Selling a business and embracing new opportunities

Selling a business is more likely with a company brand than a personal brand. Transitioning away from day-to-day involvement increases the chances of selling for a higher multiple. Knowing when to sell is based on gut feeling and timing.

Chapters

Transitioning from Personal Brand to Company Brand
Shifting from Me Business to We Business
Building an Organization with the Right People
Selling a Business and Embracing New Opportunities

Summary

Transcript

Transitioning from Personal Brand to Company Brand

00:01 - 14:18

Having systems and processes in place makes it easier to delegate and teach others.
Amy Porterfield shares her journey from a small business to a multi-seven-figure business.
She recommends the podcast 'Marketing Against the Grain' for business professionals.
Amy discusses switching from a personal brand to a company brand.
Clint Salter, an entrepreneur who has sold five businesses, joins Amy on the show.
Clint's experience in transitioning from a personal brand to a company brand is discussed.
Amy expresses her interest in exploring a company brand for her own business.
The importance of making the business bigger to create more freedom for entrepreneurs is highlighted.
Transitioning from a personal brand to a company brand can be done even if you're more established
A personal brand is about the individual, while a company brand involves multiple faces
It's recommended to transition to a company brand when your business is around $1-1.5 million
Building a company brand requires introducing new voices and perspectives over time
The pros of a personal brand include flexibility and the ability to evolve with your interests
A company brand allows you to build an asset that doesn't solely rely on you
A personal brand can become overwhelming as it depends on your constant presence and content creation
A company brand requires more team members and may be less agile and creative
The five steps to transition from a personal brand to a company brand are: audit, arrange, assess, assign, automate

Shifting from Me Business to We Business

14:02 - 27:23

To shift your business from a me business to a we business, follow these five steps: audit, arrange, assess, assign, and take action.
In the audit step, remove your ego and determine what tasks you are truly needed for.
For example, the CEO gradually stopped presenting at in-person retreats and hosting the podcast.
Arrange dates for working through each task over the next two to three years.
Personal resistance is one challenge faced when shifting to a company brand. Letting go of control and having systems in place can make it easier.
Team resistance is another challenge. Communicate consistently and courageously with your team about the new mission and vision.
Customer resistance may occur from OG customers who miss the old ways. New customers won't know any different as they come into the company brand.
Introducing new faces into your business slowly over time can help with transitioning to a company brand.
Started introducing new faces as coaches and experts into the business about five years ago
First coach was a Facebook ads coach to take that responsibility off
Identified members who had been with us for at least three years and doing over a million dollars in revenue to become Studio Growth Coaches
Brought on more expert coaches like marketing, copywriting, leadership, and in-classroom coaches
Also have captains who manage the community inside the Facebook group
Guest coaches and speakers are brought in for one-off sessions
Mindset needed to change as the business grew bigger than just the CEO
Resistance of letting others take the spotlight and make decisions
Building an organization of the right people, giving them freedom and flexibility

Building an Organization with the Right People

27:02 - 40:27

Building an organization with the right people in the right seats and giving them freedom and flexibility is important.
At DSOA, they value freedom within a framework for their members and team.
The CEO's role is now more of a consultant while the team runs the day-to-day operations.
Trusting the team to make decisions and learn from mistakes is crucial.
Giving feedback without imposing direction can be challenging but promotes independent thinking.
New voices can make a difference in decision-making.
For those considering a company brand or bringing on coaches, it's important to ask what they want and be open to change over time.
Flexibility and creativity are key advantages of personal brands.
When building a team, focus on finding people who deliver value and bring enjoyment to work with.
Take it slow when bringing in coaches or expanding the team.
Go slow when bringing in new people and partners.
Test things out and see if they work.
Be prepared to fire people if it doesn't work out.

Selling a Business and Embracing New Opportunities

33:18 - 42:20

Get clear on what you want and take your time.
Selling a business is more likely with a company brand than a personal brand.
Selling a business for a higher multiple requires transitioning away from day-to-day involvement.
Knowing when to sell a business is based on gut feeling and timing.
Selling a business can provide brain space for new opportunities.
The next chapter involves consulting, writing, and enjoying life's experiences.
Connect with Clint at cleansold2.com for more information.
Clint shared insights on making changes to your brand and considering new possibilities for your business.
Moving away from being the sole holder of knowledge and insight can be valuable.
Creating frameworks, models, and roadmaps can make the focus shift from the person teaching to the content itself.
Writing down what you want is a helpful practice for clarity in both personal and business goals.
Clint's approach of not heavily promoting his online presence was refreshing and unique.