1052: Goal Setting and Team Building with Consultant and Investor Cliff Locks

Whether you're a seasoned business owner or just starting out, setting clear goals and effectively communicating your vision can propel your business forward.

Cliff Locks is a serial entrepreneur and investor who has formed and profitably exited three businesses. He is the founder and senior partner of CK Locks Consulting, Inc. and has experience across multiple industries including professional sports marketing, advertising, and sales promotions. Cliff is passionate about sharing his knowledge and experiences to help the next generation of entrepreneurs and business leaders achieve success. Today, Cliff discusses the importance of goal setting, building strong teams, and creating a clear vision for business success. He shares insights from his experience selling one of his companies to a Fortune 500 firm for an 11x EBITDA multiple and emphasizes the value of sharing goal-setting practices with children to help them develop focus and motivation.

Quotes

“Goal setting is the key that allows people to thrive and recognize success. It helps them understand when they've achieved their goals or are on the journey to accomplishing them.” – Cliff Locks

“If we can incorporate goal setting into our children's lives, they become more focused on what's important. This helps them take ownership of their learning and results in less disruption at home.’” – Cliff Locks

“It's not about burning investors' cash. It's about driving profitable, sustainable revenue that continues to grow. This is what allows the business to truly thrive and scale—that's the magic.” – Cliff Locks

Takeaways

04:02 Goal setting is the "key piece" that allows people to understand when they have achieved success and are on the journey to accomplishing their objectives.

11:22 Involving children in the goal-setting process, such as having them write down their goals on a wipe-off board in their rooms, can help develop focus, ownership of learning, and reduce disruption in the home.

15:40 Overcoming personal challenges and "wounds from childhood" is important, but the focus should be on writing the next chapter and planning for a bright future, rather than dwelling on the past.

18:46 Utilizing generative AI tools can assist in business development, market analysis, and driving profitable revenue growth for a company.

25:15 Asking employers for equity or options can help create additional wealth, even for employees, as long as you are delivering 10x the value to the company in terms of what you are compensated.

Resources

Podcast: Play in new window | Download (Duration: 28:48 — 39.8MB) | Embed

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