Tyler Martin van Think Tyler is a certified business coach & consultant helping owners grow and scale their business using proven systems.
As you probably already realized, growing your business from six or seven figures to eight requires a slightly different mindset. You have seen that your business has potential and you already know that your product or service is viable in your market.
But how do you extend that success to grow your business to the point where you go from an overworked business owner to the type of owner who enjoys tremendous success and explosive growth? These are fantastic questions.
And in today’s article, I’m going to share three fundamental secrets that must be present in your life and business to get you there. These secrets aren’t necessarily a foolproof guide to easy success. After all, you already know that none of this is easy.
But without a thorough understanding of these three fundamental principles, and without implementing them in a profound and meaningful way into your life, business and processes, your business will likely struggle to really get off the ground. It’s like trying to ride a tricycle with a wheel missing: it just won’t work.
So without further ado, let’s get into it.
1. Provide a convincing long-term vision.
Entrepreneurs and entrepreneurs are usually creative problem solvers. But this doesn’t always make them good long-term planners. In fact, many entrepreneurs struggle when it comes to creating a long-term vision for the business.
In the book Vivid Vision: a remarkable tool to align your business with a shared vision of the future, author Cameron Herold has explained this perfectly in the following quote. “When employees within an organization make decisions with the same intuition as their leader, that is a hallmark of success. That’s one of the reasons you train people to be leaders in the first place. Your job as CEO is to align and inspire everyone and then get out of the way and make them run. ”
Having a vision is essential for your team, but it is also essential to maintain you on track so you can stay ahead and look ahead to the future. Without vision, many entrepreneurs succumb to chaos. Their organizations inevitably deteriorate into circular movements rather than forward progress toward a unified goal.
2. Delay your gratification.
We are all well aware of the busy culture. But the concept of sharpening your success through sheer hard work and determination is a double-edged sword. On the one hand, the idea has merit. But then again, the concept is usually tossed around with no explanation of the deeper context.
When you commit to deferring your own satisfaction of doing what it takes to grow your business and make it even more successful, you discover the kind of work ethic that takes businesses to the next level.
Elon Musk, CEO of Tesla and founder of SpaceX, is known for this. “When my brother and I started our first business, instead of an apartment, we rented a small office and slept on the couch,” he says. said during an opening speech in 2014 (via CNBC). “We showered at the YMCA and we were so loud we only had one computer. The website was up during the day and I was coding it at night, seven days a week, all the time.” His advice was to “work hard every hour.”
Even to this day, Musk would pull 80- to 90-hour workweeks. This doesn’t mean you have to put so many hours into it. But the idea here is that sometimes you have to deliver “extraordinary feats” to achieve extraordinary success. And delaying gratification is an important part of the game.
3. Assemble your efforts (and results).
The third and final secret to taking your business from where it is now to explosive growth in the future lies in taking the value you can create as a business owner and increasing it to achieve even better results. How do you do this?
Delegate critical business processes to highly qualified and creative talent – using your in-house team, an outside company, freelancers, etc. If you’ve ever attended a business seminar, you’ve probably heard several speakers talk about the importance of delegating tasks and creating processes .
Well, they’re right.
Many entrepreneurs still struggle with this. You may be surprised to learn that entrepreneurs are often the biggest bottlenecks in their own business. But the truth is that as a human being you have limits. So it’s vital to replicate the resulting fruits of your creativity by using outside help and internal resources to create processes to improve results over time.
These three fundamental secrets are absolutely necessary if you want to grow your business. Now that you know the secrets, it’s time to implement them. You already know you have what it takes.
Now it’s time to execute.
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