Model. Mimic. Master. Do all this, and then you can Multiply!
In parts one, two, and three of our series about the 3Ms, we discussed the importance of understanding how to Model, Mimic, and Master, and how understanding exactly how these concepts build on one another so that you can grow and scale your business by learning how to lead and grow your team.
You paint a clear picture of success by using models you can point to, helping clarify your vision; you mimic those paths to success, and in the process align the business’s goals with each individual’s personal, professional, and financial goals; and once you’ve started creating measurable, incremental examples of success, you master that success by replicating across different aspects of the business.
Like I’ve said in previous entries, you’re not going to go through this process just once. The 3Ms is a process, it’s not an event. You’ll do it over and over again with each new level of growth you tackle. But mastering the 3Ms also unlocks a fourth, even more challenging way to propel your business forward, and that’s through a fourth M, called Multiply.
Multiplying? In the business? What’s that for? EVERYTHING.
Now, you’re probably wondering, “What exactly am I multiplying in my business?” The answer is simple. You’re multiplying everything.
You’re multiplying the impact of your business, the effective people you need in order to drive the business forward, your product offerings — essentially anything and everything that can create more resources in the business to drive greater profitability for the business.
But, far and away the most important resource you’re going to need in order to multiply your business — the most critical asset in growing and scaling and creating significant value in your organization is people.
It doesn’t matter how much funding you have, what processes you’ve created, or how great you think your product or service might be, if you don’t have great people to drive the business forward, then you might as well have nothing at all. And, honestly, if you don’t already have great people, even if it’s just a few, odds are you don’t have any of the above yet to begin with.
Trust me, I’ve seen this first-hand, both in my own businesses and in those that I’ve mentored. There’s truly nothing more exciting than watching the people multiply in the business. Why? Because when you’re multiplying your people, specifically the people that are driving the highest value possible, you’re also generating more excitement in the business, and that excitement is infectious when it’s used correctly.
These people have talent that you’ve been able to leverage into results. These results generate excitement. This excitement spreads through the business and creates momentum. And when this is all in motion and used correctly, you’re on a skyrocketing path of significant and sustainable growth for your business.
When you marry operational excellence with innovation, like my friend Jim Collins likes to say, you then multiply the value of your creativity.
You start promoting, you generate a profit. You generate a profit, and you then document the process of how you accomplished that. Then you multiply your success by adding more people to the organization, and you teach them how to model, mimic and eventually master all you do so that you can multiply even more people.
Done effectively, and this process goes on and on and on, and with it, your success.
Going back to Jim Collins, this is precisely what he’s talking about. When you marry operating excellence with innovation, you create the opportunity to multiply the value of your creativity.
So, I have to ask you, what do you have the opportunity to multiply in your business? Who are your top performers who are dedicated to the mission, execute at the highest possible level, and can foster the next generation of leaders in your organization?
If you want to learn even more about these impactful and effective business concepts, then you need to attend a Cardone Ventures event! Join a group of like-minded business owners, the Cardone team, and me to finally understand how you can 10X your business!