This is bonus episode 10 - our final episode in the 5-part series about the Fix This Next methodology. This episode, I talk about the fifth and final level of the hierarchy: Legacy.
The Business Hierarchy of Needs is a model developed by Mike Michalowicz, author of the book, Fix This Next, which is now available wherever books are sold. The book dropped this week to thunderous reviews.
I'm a certified Fix This Next advisor, and I've walked you through each level of the hierarchy in separate episodes. Level 1 (Sales), Level 2 (Profit). Level 3 (Order), and Level 4 (Impact) were our previous episodes.
Based on the original Hierarchy of Human Needs developed by Abraham Maslow in the middle of the 20th century, Mike posed the question, "What is the hierarchy of needs for a business?"
Fix This Next is the answer.
There are five levels to the Fix This Next Business Hierarchy of Needs, and five aspects in each level that you need to consider. Just like Maslow's hierarchy, though, you need to resolve the issues at the lowest levels of the hierarchy before you can deal with anything higher up.
The fifth level of the Business Hierarchy of Needs is Legacy. While nearly every creative entrepreneur I meet talks about wanting to build a legacy, very few of them think about what it really means: that, at some point, you have to leave the company and entrust it to others to carry on the vision. Are you really ready, willing, and able to do that? Not everyone is. This week's episode explains.
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Theme music: “Welcome to the Show” by Kevin MacLeod, incompetech.com. Music licensed under creativecommons.org/licenses/by/3.0/