Here’s the final three reasons why businesses get stuck at six figures and fail to break past the magical million (and stay there):
Reason 4 – You don’t know what to do next!
If you knew what to do magically grow sales you would have done it already! You either can’t see the path to the next stage of your business’ growth or the path you can see just looks too damn hard!
Answer 4 – Stand on the shoulders of giants!
Don’t reinvent the wheel. There IS a much easier way, you just haven’t seen it yet. Get guidance from people who have built companies that are further ahead than you are now.
A very profound realization for me several years ago was “you don’t get extra points for doing it the longer or harder way”
Instead, accelerate the progress you can make by learning from people who have already been there and done that. They will not only help you to accomplish what you’re trying to do much faster, they can also point out the pitfalls that you don’t even know exist!
Reason 5 – Not got the 7 figure mindset
It’s hard being a business owner, so many tough decisions to make. You often feel tired and burnt out. You’re not even sure you’ve got it in you to do what needs to be done to build a bigger company. Truth be told, you often feel like you’re faking it, don’t the customers even realize your business is a mess!?
Answer 5 – Upgrade your network
“Environment dictates performane” as Daniel Priestley would say, and I agree. Surrounding yourself with a peer group of like-minded individuals will not only give you new ideas and input, but it will act as a support network when times are tough.
And if that’s not enough, remember “steel sharpens steel”, which is another way of saying, you become like those you associate with. Expand and upgrade the network of business owners you associate with and you’ll find your skills and performance as a business owner will expand and upgrade too.
If you want to expand and upgrade your network, check out my upcoming Six-to-Six Workshop
It’s all about going from six figure revenue to six figure profit from business owners who have actually been there and done it. Get the full details here.
Reason 6 – You’re not good enough
Ouch, this one hurts. The reality is most small businesses don’t expand and grow beyond a certain size because they don’t deserve. No matter what the business owner might think the harsh truth is they don’t have a distinct competitive advantage. There’s more competition than ever before and not enough reasons why potential customers should choose you as their first choice.
To make it worse… it’s only going to get harder. New technology continues to lower the barrier to entry, the market place is steadily improving, if you’re not ahead of the curve, you will be left behind.
Answer 6 – Out-learn the competition
I believe one of the most important skills you can develop is the ability to learn.
You want to get more new customers than your competition?
Then learn to be better at them at marketing and sales
You want to expand your team and accelerate the company’s growth
Then learn to recruit and lead more effectively.
You want to stop get distracted and wasting some much time on low value tasks at the office?
Then learn to manage your time and to delegate/outsource more productively.
Want a £1m / £10m / £100m company?
Then first you must become a £1m / £10m / £100m business owner.
Your company will NEVER sustainably perform at a higher level than the leaders of the company are capable of.
Read that last sentence again, let it sink in.
If you want your company to be better, YOU need to be better.
“Which books should I read Dan?”
All of them.
“Which business seminars should I go to?”
All of them.
But if you’re looking for a place to start, apply for a place at this workshop
And once you’ve done that order this book
Then join this Facebook group and get involved
Hope you enjoyed this email.
Hit reply and let me know what you think