Has your business plateaued?
I have met and worked with a lot of business owners over the years who feel stuck. They were passionate about their business in the beginning, built a team, built a customer base, and experienced a certain level of growth. Then things seemed to stand still for them.
It’s a common problem. And it’s one I’ll work through here so you can 1) Understand that you’re not alone in this experience, and 2) Learn more about the vital things that you need to focus on in order to get to the next level, personally, professionally, and financially.
There’s actually a very simple way of categorizing the most important things you need to focus on when it comes to supercharging your business.
You need to focus on the WHAT, the WHO, and the HOW, as well as your business’s LEADERSHIP TEAM, TECHNOLOGY, and SYSTEMS.
When you understand why these categories are so important to your business, then you and your team can become fully aligned with one another, focused on your common goal, and flawless in your execution.
Ready to learn more? Let’s dive in!
The “what” you do has to work
When you started your business, the “what you do” just had to work. It had to.
There was nothing more important than the “what.” During a business’s life cycle, that commitment to the “what is what gets you from an idea ($0) to a possibility ($100K) to a potentially viable long-term business (the $3MM mark).
But when you want to get over that hump, when you want to scale and grow and become a force to be reckoned with — hitting that $25MM and above mark — you have to rely on more than just a product or a service. There’s a whole ecosystem that needs to be created. This is what we talk about in great detail in our Accelerator Programs.
Here’s the broad overview.
Understand WHO you need to do business with
If you only have the “what” and you don’t understand the “who,” then your business is destined for failure.
Now, if you really want to explode your business, then you need to develop a deep understanding of who you’re doing business with. This includes the people you’re hiring, the vendors you partner with, and most importantly, the customers you serve.
By putting 10X energy into understanding everything that you possibly can about your customers — their needs, their buying patterns, the problems they face, the things they love, the things they hate, and so on — the way you hire, serve, and partner with other vendors will be so much clearer.
Understand HOW you need to do your business
There are two sides to how you need to do your business. One is based on the systems that you need to create, which I’ll get into a little later, and the other is the values and ethics that you need to follow.
At Cardone Ventures, we have a mission and a vision, but we also have values that we can turn to in every business decision we make. It’s our goal to be inspirational, disciplined, accountable, transparent, aligned, and results-oriented in everything we do.
It removes the mystery from our decision-making. It sets expectations across the organization. And it works.
Understand that your LEADERSHIP TEAM is vital to your success
As your business grows, you and your people should be growing, too. This means that you should be spending more of your time working on the business than in the business, and that you should be offloading more and more of your responsibilities to your team.
Look to those team members who understand the business’s mission, who see the vision, and who uphold its values through their work. Look to the people who are creating new processes for better and more efficient work and who make the most of every customer experience.
The people who lead without expectation of reward and take certain actions because they’re the right things to do are the people who you need to surround yourself with as you reach your new financial goals.
Understand how TECHNOLOGY will help your business grow
Your business’s technological infrastructure (think customer service, digital marketing, team communications, proprietary software, and more) is without a doubt an essential part of growing and scaling your business.
People’s expectations for a fabulous customer service experience are higher than ever. Your IT infrastructure is key in creating the right ones.
Understand how SYSTEMS will help you achieve your goals
Many business owners think that their teams understand how their businesses operate. Too few actually put systems in place that are tried and true operational systems.
You have to find the right way to deliver your product or service and then duplicate that ideal delivery over and over again all across the organization so that the system can be improved and so that new systems can also be created.
Your customers have expectations. Your goal is to not only meet, but exceed those expectations. This can only be done when the right systems are in place. Consistency is vital to your success.
This is barely scratching the surface of what our Accelerator Programs are doing for businesses that are seeking to rise above the plateau of their current numbers and achieve true 10X-level success.