About this episode
Making decisions is perhaps the most important skill an entrepreneur can possess. To move from a vague idea to a structured project, Frank Kern uses a specific "Decision-Making Worksheet" to ensure every move aligns with long-term success. Phase 1: The Big Picture Before looking at the decision itself, you must ground yourself in your ultimate destination. Clarify Your 20-Year Goal: Define exactly where you want to be two decades from now. For Frank, this is building a sustainable $100M company with a minimum 35% profit margin. Define Your Purpose: Identify the "why" behind your business. Frank's purpose is to have a measurably positive impact on the global economy by changing how consumers view marketers. Identify the Decision at Hand: State clearly what you are considering. (Example: Launching a flagship program to cold media via a webinar funnel). The "Alignment" Gut Check: Ask yourself: Will this move me significantly closer to my 20-year goal? If the answer is no, stop there. Phase 2: Success Criteria & Deadlines If the decision aligns with your goals, you must define what "winning" looks like. Four Indicators of Success: List four specific results that prove the decision was right. Frank's examples include attracting qualified prospects and achieving a 3x ROI on ad spend. Set a Hard Deadline: Determine by when these success criteria must be met to turn the decision into a tracked project. Phase 3: The Benefit Analysis Analyze the impact of the decision across two different timelines: Short-Term Benefits: Immediate wins, such as gathering data, building goodwill, or turning a quick profit. Long-Term Benefits: Lasting impacts, such as business scalability, permanent list growth, and transforming the lives of clients.
