Rapid Growth, 3 Reasons To Slow It Down

I see it happen frequently in my CEO groups – Much of their success is measured by “growth that month”, and I don’t know if I agree.

What I have come to learn is that growth needs to come the right way. Here are 3 reasons why it’s better to slow down your immediate growth and set a greater foundation for future growth.

1 – Make sure it works on a small scale.

When starting my last three companies, I personally completed the tasks that I eventually wanted to hire for. I made the cold calls, I made the sales appointments, I did the customer on-boarding and any other “beneath the owner” tasks. I spent over a year perfecting this before hiring others to do the same. My colleagues, especially the ones with venture money, did quite the opposite. They spent most of their time scaling without ever themselves doing the field work. Doing all the foundation work allowed us to really figure out what the market needed and how to respond to clients and their behaviors with everyday issues. As I’ve scaled, I’ve always felt like the foundation was solid and all dollars spent scaling went to the right places. What’s the logic in throwing money behind something that you haven’t experienced or know works? What level of leadership do you display when you’re able to tell an employee related to ALL tasks in the company – “I did that, let me share with you my experience and what I learned from doing exactly the thing you are struggling with”.

2 – Focus on profits not just top-line revenue

Cash is king – We’ve all heard it, but less owners focus on it when thinking about growth. Forcing yourself to keep expenses low and creating a high-margin product is a much better long term win than scaling a low-margin product. I’ve always focused my team on creating extremely profitable revenue streams and what I’ve noticed is that “correct” growth always follows.

3 – You don’t know what you don’t know.

Isn’t it interesting that so many companies go under and then they say “I wish I knew 2 years ago what I know today.” Growth is all about balance. You want to push growth and sales at a rate that allows you to figure the needs of the market but also at a rate that the company can handle. One or two big decisions can take you under – Spending more time assessing those critical decisions can go a long way.

When you walk into the office today, think about the word “finesse”. Take a step back and think about how you can better your product, people and processes as you say “Grow Grow Grow!”

Brian Moaddeli
President, Grow Team
http://growteam.com

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What Does It Take To Be An Entrepreneur

Successful entrepreneurs often earn their fortunes when there is a depression or economic downturn. Colonel Sanders creator of Kentucky Fried Chicken, base ball player Babe Ruth, and Monopoly game designer Charles Darrow earned the bulk of their fortunes during the depression. Here are thirteen ways that self-employed earners and business owners can be successful in any industry.

Solve Complex Problems

Being a natural problem solver makes it challenging for most business owners to fit into corporate America or a traditional 9 to 5 job. People who earn a higher than average income are those who solve the most complex or painful problems.

Do not Ignore Opportunities

Business owners must be able to view problems in the market as an opportunity. When a problem is identified within the business create a product or service to draw in people who are already buying in that particular industry.

Self Motivation and Determination

Determination is the only way to complete complex projects and to stick with things when things may not go as planned. Never expect others to be motivated about a business vision they did not create.

Business Plan

Many entrepreneurs fail to make concrete business plans. These plans need to be written and put into a printed document. Use this business plan to show the goals and structure of the company to potential investors.

Action Oriented

Entrepreneurs must be action oriented, procrastination will quickly bring all potential progress to a halt.

Continuing Education

Learning new skills to apply to the business is an ongoing tasks. Invest a portion of the profits into seminars, local continuing education classes, books, instructional videos, and audio trainings.

Use Technology

Embrace technology to keep current with how technology is used to attract new customers and make it easier for customers to interact with the customer service department of the business.

Outsource

Entrepreneurs have to let go of activities that can be done by other professionals. Business owner must manage their business and spend their time on the proven activities that make money.

Reward Customers or Clients

Develop ways to interact with customers where they feel acknowledged and appreciated. Reward customers for being loyal through discounts, specialized products, or giving exclusive access to private sales.

Healthy Ego

Entrepreneurs by nature may have a healthy self-esteem. Never let the ego get in the way of making improvements that are suggested by a professional consultant or a colleague to improve the business.

Good Habits

Strive through daily actions to meet the business goals. Being successful is directly related to the habits done consistently, examples include marketing, creating new products, and reviewing the health of the business finances.

Idea Stream

Thinking outside of the current business model is hard for entrepreneurs who have a clear vision of what they to offer to the world. Create idea streams that by encouraging customers to share their ideas.

Time Off

Prevent burn out by learning how to stop working. Schedule time to work and time for relaxing and spending time with loved ones. Clear boundaries must exist between personal life and professional life.

Passive Income

Create passive income sources to experience true financial stability. It can take several months years before a business idea can completely support an individual or a household.

Take action on these tips to become a successful entrepreneur like I did as a teenager. Get linked up

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Map Out Your Success

“In preparing for battle I have in every case discovered that plans are useless, however planning is indispensable.”

from DWIGHT D. EISENHOWER – 34th U.S. President
1. Determine the exact issue you’re solving.
This is the most important thing to know about your business. Every thing you do from this moment on out will be an element in correcting this dilemma.
2. Determine Precisely what You’re Marketing
Although, you’re receiving payment on your product or service, that’s not what you’re advertising. You need to promote the advantages to what you’re providing. Let them understand how you are resolving their dilemma.
3. Analyze your Service or Create your Product.
Learn the way different companies are offering their product or service. Study their business model and everything that they’re doing. Then simply copy their success.
4. Estimate your set-up expenditures.
You’ll want to know precisely the amount to get on track. Once you have a number written down, discard it and make it twice as much. You will typically have unexpected fees.
5. Resolve Your Pricing for your Product or Service.
One way to value it is to determine your full price per unit. Then merely mark it up. A better approach to value it is to figure out the actual value to your customers and value it accordingly.

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20 Inspirational Quotes

At times when I’m displeased with how a few things in life are transpiring, I think people should keep at their side some inspirational quotes to harness more perseverance. I always discover at the very least one quote which covers precisely the issue I’m experiencing.

In some fashion or another, knowing I’m not the one to have doubts, you must be reminded to remain optimistic and focused to continue feeling upbeat. Moreover, the words of wisdom supply good reminders to keep trying, take action, be thankful, and be appreciative.

I for one am an enormous admirer of quotes for inspiration. I like that so much energy can come out of a simple sentence. They inspire us to be more.

I want to share some great quotes that I find to be possibly the most inspiring, and perceptive into the thinking that energizes some highly successful people in the world. A few of them are pretty similar, nevertheless this just assists us in the process of implementation. I trust you will discover them as helpful and motivating!

Here is to building a greater career and lifestyle in 2012 and beyond – Brian Moaddeli

1. “The bad news is time flies, the good news is you’re the pilot” ~ Michael Althsuler

2. “Opportunities multiply as they are seized” ~ Sun Tzu

3. “Courage is what it takes to stand up and speak. Courage is also what it takes to sit down and listen.” – Winston Churchill

4. “If you want to be great and successful, choose people who are great and successful and walk side by side with them.” – Ralph Waldo Emerson

5. “The most important thing in your business relationships is your reputation for honesty. If you can genuinely and sincerely fake honesty, you will be a success. Never doubt it.” – The Mafia Manager

6. “After loyalty come ability, skill and competence. Promote only able people (and the occasional humbler). You find able people by testing them.” – The Mafia Manager

7. “Do not fear when your enemies criticize you. Beware when they applaud.” – Ralph Waldo Emerson

8. “Effort and courage are not enough without purpose and direction.” – John F. Kennedy

9. “Fire is the test of gold, adversity of strong men.” – Seneca

10. “Good leadership consists of showing average people how to do the work of superior people.” – John D. Rockefeller

11. “The skillful employer of men will employ the wise man, the brave man, the covetous man, and the stupid man.” ~ Sun Tzu

12. “When people are placed in positions slightly above what they expect, they are apt to excel.” – Richard Branson

13. “Good judgment comes from experience and experience comes from bad judgments.” – Dr Warne W. Dyer

14. “He who believes is strong; he who doubts is weak. Strong convictions precede great action.” – J. F. Clarke

15. “Giving people self confidence is by far the most important thing that I can do because then they will act.” – Jack Welch

16. “Before making an important decision, get as much as you can of the best information available and review it carefully, analyze it and draw up worst case scenarios. Add up the plus or minus factors, discuss it with your team and do what your guts tell you to do.” – The Mafia Manager

17. “It takes 20 years to build a reputation and only five Minutes to ruin it. If you think about that, you will do things differently.” – Warren Buffett

18. “Outstanding leaders go out of their way to boost the self esteem of their personnel. If people believe in themselves, it’s amazing what they can accomplish.” – Sam Walton

19. “It’s alright to be Goliath but always act like David.” – Philip Knight

20. “If you hear a voice within you saying “you are not a painter” then by all means paint and that voice will be silenced.” – Vincent Van Gogh

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