4 Things I’m Learning As An Inc 5000 President That Will Throttle Your Business Now
First things first.
I'm learning. I'm not standing on top of the business success mountain top with a golden laced flag of victory.
I have the honor of leading the team over at The Rocket Company. We help people breakthrough. That's our "MTP". I'll explain later below.
Now listen, I don't have it all figured out. I want more. I'm hungry. I smell blood in the water.
Let me save you some time.
If you're reading this and you're not interested in growing your company...
...or don't want to grow as a leader...stop reading now.
Yet, if my headline raptured you into reading this far, buckle up. I believe the following will grow your business or help you get "unstuck".
1. Your Most Important Asset Is Your Sales Channel
I don't know how to be any more clear on this topic. Business can be like quicksand. You can move around doing many different things. Most of those things will speed up your fate.
In other words, your logo doesn't matter as much as you think it does.
Your public relations firm isn't as valuable as they think they are.
Your research and development team won't fatten your payroll budget.
The #1 thing that is going to move the needle and ultimately show you market validation is your sales team. Your sales channels. Your sales strategy.
If you're spinning your wheels as an owner, corporate executive or aspiring leader...
...GO SELL SOMETHING. We call this traction.
Once you prove the sales cycle, automate it with a human or algorithmic process.
Then go sell something different:).
2. View Every Day Through The Eyes of R.O.I. - $10,000 An Hour Work
Return On Investment is a language we have to teach our brains. It's a muscle memory thing.
If you are to be a growth leader, you must fight to work on the right things at the right time.
Don't know how to do this? I suggest getting a coach. If you want to go to the next level, get coaching from the next level.
Know the key metrics of your company. Know the "lead" metrics. The lead metric is the action or activity that happens before a sale happens.
Staff to those metrics or organize your time around those metrics. When the time is right, delegate only to someone who can sustain what you have produced at a minimum.
Value your time like Gollum and his ring. Only let it out of your clutches for ROI work.
Do this exercise: bucket your daily tasks into:
$10/hr work, $100/hr work, $1,000/hr work and $10,000/hr work.
Your goal is to outsource or delegate the lower paying activities as fast as possible.
You do the $10,000 work and your book of business will grow.
I learned this exercise from Perry Marshall's book, 80/20 Sales and Marketing. You can get it here for a penny.
3. Articulate Your Massively Transformative Purpose(Vision)
I recently read another book called Exponential Organizations by Salim Ismail.
It's a must.
The book profiles how wildly successful companies of the future will have to ORGANIZE. How you organize your team and responsibilities are now the key to outrageous success.
However, you can't organize without an MTP(massively transformative purpose). An MTP is basically your vision for the company.
Our vision at The Rocket Company is this: We help people break through.
I know. At first glance it sounds generic. But, it serves as a north star. We'll never get there, but that's not the point.
It pulls us through the dark waters of business chaos. We won't lose our way. We won't lose ourselves.
If you don't have a massive purpose for your company or career, you'll fail.
Under the MTP, we have a mission that is very articulate and will only last 3 years. Then we will redefine.
Under our mission, we have core values that describe who we as people are. What we stand for. This helps us hire the right people too.
Which brings me to our final point...
4. Hire To The Vision
At The Rocket Company, we are Infusionsoft users. We also listen to how they have exploded through revenue barriers in recent years.
At the time of me writing this I believe they are a 100 million dollar company(give or take a few million?).
Their CEO has been cited to say "hire to the vision" on your journey to $10 million in revenue.
I can't stress how important this is.
Hiring can be the hardest thing in business to do well. Anyone can hire.
But, if you hire without clear, vision driven job metrics, you can kiss productivity good bye.
Only hire when you have to as well. Outsource as much as you can.
In a recent podcast by our Founder/CEO, Casey Graham, Donald Miller was the guest. You can catch the podcast at http://caseygraham.com/7figurepodcast/.
Don is an accomplished author and successful CEO himself. He runs Story Brand(https://storybrand.com/workshop/).
Don mentioned three important things. 1. Keep your overhead low. 2. Create new products. 3. Fire up the jet engines(aka, SELL).
Hiring immediately adds to your overhead, so be careful and slow. Only add when it is mission critical.
What's going on at your company? What's missing in your flight to success(defined by you, BTW)?
From time to time, I post sales and marketing ninja chops over at my blog. You should check it out if you point #1 is a priority to you at all. Go to www.groovymarketing.biz and do a backstroke in sales geekdom.
P.S. If you skimmed to the bottom of this whole thing, just follow me on Periscope instead...@jrhodesbiz