The Power of Questions
What is the power of questions? In this episode of Incorporating Superpowers, host Justin Recla welcomes guest Lucas Petty to the show. Lucas is a start up business coach who helps people grow their businesses by identifying the questions they need to ask themselves in order to expand. Questions can do more than just get answers, they get us thinking and creating real solutions to make an impact. Tune in today to learn about the power of questions!
Justin Recla:Â
Welcome back to Incorporating Superpowers. Today’s episode is for the true entrepreneurs, the entrepreneurs at heart who are building because they want to exit because they know that the hard work dedication, and time that they’re putting in now. That is 10 times harsher than just getting the job is going to pay off in the long run.Â
We’re going to talk about what that looks like through the power of questions. My guest today is Lucas Petty. Lucas is an entrepreneur, he has been helping startups for a very long time. He’s helping entrepreneurs and startups raise $5 million, and so forth, to get their companies up and going to where they can build the processes and the systems that they need. So they can exit Lucas, welcome to the show.Â
Lucas Petty:
Thank you for having me, Justin. It’s a pleasure being here. This is good.
Justin Recla:Â
Now before the episode, we were talking about just the power of questions and how questioning everything leads to understanding the processes and systems of how things work, right? There’s, there’s no need to recreate the wheel. If there’s a system and process that works and is duplicatable. It can be repeated what’s your experience in the entrepreneurial realm? And in helping people dive through those questions for themselves?
Lucas Petty:
Absolutely. So I’ll just dive right into a thought experiment, which is simply if you were to be in a room with a millionaire, how, let’s say a billionaire, or just simply someone that you admire, and respect deeply. If you could only ask one question, what would it be? I think thinking about that for yourself is really, really important. Now, in my opinion, because I’m the guy who has worked with building all the processes for companies, and that’s what I’m passionate about and what I obsess over, I’ve found that one of the best universal questions to ask is what systems do you use to do X, you know, to raise a million dollars, to have an incredible relationship with your wife to grow your business? What system do you use?Â
Because that gets nitty gritty, oftentimes, people will then go into their processes. And as I mentioned before, working, going from working at startup accelerators and incubators as a consultant, helping companies go from idea to launch, and then helping them scale to over $5 million in annual revenue. being focused in that early stage, for the last 10 years, was incredible. But it wasn’t until just recently when I start stepping into the m&a space, mergers, acquisitions, and helping companies buy and so they’re startups that I realized, the lens through which you look at your organization is so powerful. And if you were to look at that idea that you just have is going to be you know, the next Facebook, the next Google, whatever, whatever you’re dreaming up. If you look at it from the beginning how do I make this? Like how do I make the business, the product, the thing to so rather than the product or the service itself, that is going to give you so much more leverage, because you’re already thinking, even if what you’re building is something that you see yourself wanting to do for the rest of your life, and you don’t want to sell?
Just think about if your product itself, or your business itself is the product. Then the way you create the systems, the way you structure, the processes, everything it’s going to make it so that anytime in your career, you can say hey, I’m sitting back. I’m gonna go on that vacation or I wonder whatever because you’ve documented all your operating procedures, all these different things. You can easily have a manager replacing it there’s a difference between you being stuck in your company. I like to say work working in your company, not in your company. When when you can reverse that, all of a sudden, that’s when you get the real freedom that people tend to associate when they think I’m gonna build a startup. I’m gonna create my own project my own business, and I’m gonna get that independence and freedom.
Justin Recla:Â
I love that. And I think you’re absolutely right, that starts with the questions. It’s a, it’s a process that we’ve done for ourselves, and Tonya and I have done for ourselves is reverse engineering, the systems, and processes because while we do what we do as you said, it’s not about that I want to be able to and we view we live with an amazingly blessed life, you know, I’ve got a three-day workweek. It’s just unreal because we’re building in such a way that it’s not just a product or service, but it’s the business itself that is allowing not only for the lifestyle but for the exit that’s gonna allow us to complete the exit and change.Â
And honestly, if I’m honest, Lucas, I’m a social scientist. And this is something I want to do my entire life business just happens to be a phenomenal place for it. And the points that you’re making are so spot on. And if you’re an entrepreneur folks, understanding this is huge. Getting to the point where you can see that you are not in prison for your job. It usually starts with the questions. So I want you to reach out to Lucas and ask him the questions he needed. How do I do this? But in order to do that look is where can people go for more information about you.
Lucas Petty:
So people can reach out over at startuptemplates.com, or they can email me directly at [email protected]. And I can free to connect with me on any social media, LinkedIn. And I’d be more than happy to help them with figuring out what’s the right direction, asking the right questions, and looking over their systems for them. That’s what I love.
Justin Recla:Â
Perfect. Folks so take a look at what Lucas is up to pick his brain dive into it and start asking the hard questions to stay with us. We’ll be right back as we dive further into the power of questions.
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