E064 - How to Build a Business that Matters and is Profitable with Warren Coughlin (E)

From MD to Entrepreneur with Dr. Pranay Parikh

A successful business that is profitable and positively impacts the world is one that has mastered business skills. These skills include; sustainability, return on investment, a topnotch management system, high-performing culture, and a dashboard that allows a business owner to predict the performance of the business. Join this conversation with Warren as we explore the many ways you can build a profitable business that does good for the world and is profitable.

Warren has been coaching ethical entrepreneurs toward prosperity, freedom, and fulfillment since 2002. His clients have enjoyed 8-figure exits, the development of High-Performance Cultures, greater work/life integration, massive profit growth, and rewarding impacts. He was the top coach in Canada with the world's largest business coaching business. He is also a recovering lawyer, a serial entrepreneur, a former college professor, and an actor/theater director.

In this podcast, we will go through Warren’s three-part business framework on how to create a saleable business even when you don't want to sell in the future.

During this episode, you will learn about:

[00:00] Episode intro and a quick bio of the guest; Warren Coughlin

[01:41] Warren’s backstory and the type of people he works with

[06:22] Warren’s three-part framework for people and businesses

[08:53] You can't win the game if you don’t know how to keep the score

[09:05] You need a high-performance culture

[09:30] You can’t win if you don’t have a game plan

[11:18] How a working plan is a framework for making decisions in business

[16:20] Why over-systemizing is a slow but sure death to your business

[18:54] How to build a winning culture even when the business is young

[23:38] Challenges of building a business culture that he has helped his clients overcome

[26:03] How is culture a competitive business advantage?

[33:26] Hiring the right people is the catalyst to a good business culture

[34:05] Getting all the information when interviewing a person

[43:16] The most important aspect of putting more effort into when starting a business

[47:29] How you can reach out and connect with Warren

[47:50] Ending show and call to action

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