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The 4 steps to explosive growth
Most business owners think that to create explosive growth they must make massive changes – explosive growth has to come from combustive action, right? In reality, if you can leverage the force of optimization and maximization, you can learn how small, incremental improvements in certain areas of the company that are lacking can result in geometric growth to help expand your business.
As a business owner, at any given moment, a million things can be competing for your attention. And it’s easy to put your focus on finding innovative ways to stand out, developing creative solutions to industry challenges or trying to find new means of generating income. But constant optimization and maximization – Force #6 of Tony’s 7 Forces of Business Mastery – is all about going back to the core processes of your business. Don’t try to reinvent the wheel – do your best to polish the basics.
This often-overlooked strategy is also one of the most important opportunities for you to find the sustainable, geometric growth that exists within your organization. And when you mobilize your team to focus on the biggest areas of improvement and create and implement a clear plan, the ease in achieving organic yet explosive growth can be astounding.
Take Laurence Hallier, a serial entrepreneur who has founded and led numerous companies through years of explosive growth. Through Hallier Properties, he developed and delivered over $1 billion in real estate projects in the 2000s, including the Panorama Towers with 1,000+ luxury high-rise condos in Las Vegas and The Royalton at River Oaks, a 33-story luxury condo conversion.
He then went on to found Show Media, the top provider of digital interactive advertising screens in taxicabs, reaching 100 million passengers each year. His company has been featured three times on the Inc. 500 Fastest Growing Companies in America.
How was he able to accomplish this impressive geometric growth for his businesses? Laurence clearly knows how to leverage the power of optimization and maximization to create massive growth in his companies. He has attended Tony Robbins’ Business Mastery multiple times, each time taking back different insights and action items on business model innovation. Hear Laurence speak more about the impact of this event:
To optimize and maximize your existing core processes, you must implement four key factors:
1. Develop the mindset of a champion
High achievers have clarity of vision – they attack their goals and are committed to preparing for “the game.” Those with a champion mindset study the strengths and weaknesses of the competition, then develop a game plan that leverages his or her own skills and expertise to bring about the desired outcomes. They recognize the power of their specific skill set and execute these skills when it matters most – especially when dealing with an important business decision such as filing bankruptcy.
Having the mindset of a champion also requires effective leadership skills. You must develop a mission or purpose that not only drives you, but inspires others as well. Stepping into that winning mindset – for yourself and for your team – is a must when trying to achieve explosive growth.
Marketing expert Jay Abraham states that an incredibly important part of geometric growth is business owners getting out of their own way. Jay’s worked with numerous entrepreneurs who have limited growth ability because they have assumptions about what their businesses can and can’t do. These assumptions are built on limiting beliefs that prevent them from growing past a certain point.
When you realize that your capacity as a company is much higher than you ever imagined, it disrupts your old way of thinking. Jay suggests addressing these limiting beliefs through a combination of meditation, neurofeedback and exercise to calm your mind and create an atmosphere for developing empowering beliefs that lead to geometric growth.
2. Execute, adapt and routinely optimize your results
To constantly optimize your business, you must be completely focused and committed to the specific outcomes that will lead to geometric growth. What’s your vision for your brand? How can you bring that outcome to life?
Opportunities for maximization can be found in almost every area of the business: lead generation, sales and prospecting, sales conversion, changes to your offers that lead to higher prices or additional upsells, etc. The key is to understand and document your company’s current processes and results in each of these areas, anticipate the biggest areas of challenge and then mobilize your team with a clear plan so you can target specific improvements that will have the most impact. Having this clarity of focus and actionable plan will enable you to continually improve and ultimately succeed.
Jay suggests that you also analyze your team members during this step of the process. He developed the Performance Enhancement Quotient (PEQ), a method of study and development that extracts the best practices from your team’s top performers so they can be quantified and taught to others in that department. His research suggests that, in most companies, 20% of the employees are achieving 80% of the results. With the PEQ, you can dramatically increase the results of everyone in the company, which also leads to improvements in company culture as everyone is acknowledged and elevated rather than just the top performers.
3. Measure and reassess
Use the post-game analysis to your advantage.
You can’t manage what you don’t measure. Learn from your experience and results and understand that obstacles are usually just opportunities in disguise. Everyone fails sometimes, be it in a championship game or in business. Don’t be afraid of failure. Instead, evaluate your successes and failures, and in reliving the game, mentally prepare for the next challenge.
- If you lost, how will you keep pushing your practices forward?
- If you won, what factors contributed to your success?
- What were the key decisions you made, for better or worse?
- How will you maintain your strengths and build on your weaknesses?
Jay states that being a fluid company helps you learn from your mistakes and make tweaks that aren’t disruptive to your geometric growth. In the past, many leaders thought they needed to make dramatic pivots to get around formidable obstacles. However, laying off half their team or making huge changes to their business models led to failure more often than a successful pivot. Though Jay believes that no one and nothing stays constant, he advocates that building a cross-functional team and taking other measures to stay flexible will allow you to respond to economic changes and customer demand without having to completely rethink your company identity.
4. Foster a productive work environment
As a business leader, you know that high-performance organizations foster successful innovators, thanks to the alignment of several vital forces. Constant strategic innovation, efficient business processes (including developing strong company values), powerful performance systems and team competency and behavior all work in harmony inside the world’s top companies. Keeping your team happy is key to putting them in the right mindset to create explosive growth. If your employees are unhappy at work, they won’t have the drive and passion needed to implement your growth strategy.
Finally, agility is also essential. To become a constantly evolving organization, there must be flexibility at all levels. A business that succeeds is one that balances mindful scaling with geometric growth. Explosive growth can be a game-changer for your business, but deliberately moving your brand forward through well-thought-out steps you can repeat will lead to greater success in the long run.
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