WELCOME BACK TO THE ENTREPRENEURSHIP BLOG.
Hope 2021 is going well for you.
I wanna talk to you for a minute about the mindset required for business growth.
A couple years ago around this time we had just finished our third consecutive 7-figure month, giving us our first ever $3,000,000 quarter… this was a milestone for us because for 18 months we had been working towards doing that.
It required a lot of INTERNAL work.
Despite how much everybody wants just the tactics — as if you can simply use blunt force to hit your income goals — we’ve discovered that the more we work on, optimize, enhance, train ourselves as leaders, the more money comes pouring in…
Of course, there are tactical elements as well, getting everything set up properly so that 7-figures and beyond per month doesn’t kill us, or negatively impact our clients / customers — it’s no small feat. I’ve found that a good “rule of thumb” to know you are healthy is when you hit a big goal and your default response to it is simply:
“About time… NEXT!”
This isn’t to say you don’t celebrate a little bit… when Jeff Bezos took Amazon public, he went out of his office into the meeting room where his team was celebrating and he said “You can celebrate for one hour, then back to work… we are not finished.”
You may read this and say “Wow Taylor, I don’t know if that’s healthy” but I’m telling you — the only way you will hit your bigger goals is by having a vision that is so much bigger than said goals that you begin to work for the mission, not for the ‘record.’
I am not celebrating all night for the milestones along the way to the final destination. I celebrate winning every day by waking up and doing my best, bringing out my BEST…
When to Push, When to Slow Down
A quick note:
Growth in business and life at MAXIMUM speed is not always OPTIMAL. It is possible to grow too fast and lose a long list of attributes that were responsible for your growth in the first place:
- Commitment to clients
- Team comradery
I’m a big fan of Jim Collins’ work. Jim says one of the serious dangers entrepreneurs face in today’s world is shooting for SO MUCH SO FAST that the company cannot sustain it profitably. To be clear, when I say “so much so fast,” I do not mean to lower or slow your goals…
Every day we talk to people who want to bring in $50k/month and they have set the goal to hit that over the next 12 or 18 months. Listen – that is ridiculous. From someone who has taken DOZENS of clients past 7-figures and HUNDREDS of clients past 6-figures — it does not take that much time (or work, for that matter) to hit half a million or a million in a business.
Our client-reported monthly revenue regularly exceeds over $3 million.
There is so much money available to you if you can focus on the small handful of RIGHT activities and ignore the rest. PROOF that a million/yr is simple:
- A good $8,000 offer
- A good $20,000 back end offer
- UNITS: 8 clients @ $8k + 1 client @ $20k
Boom. You’re at a million.
$1,008,000/year, to be precise.
We have clients doing way more than that ORGANICALLY, as in, with no ads. (I’ll put the News Feed Authority training right here for you to check out.)
When an offer is right, you can feel it, and people will pay for it. Most people have terrible offers and don’t know how to communicate their value propositions correctly.
Anyways, nuff said on this.
The time you want to slow down is when you are creating growth at the expense of your reputation. Having a good mentor in place who’s ahead of you can be helpful in knowing the difference… Nothing else I’m going to say on this :-)
Necessity VS Entitlement
We live in an ‘entitlement’ era. By and large most people want to lay claim to things that they refuse to pay for, and they will not work for.
You see a stark contrast between the companies who seem to roll through problems & setbacks with unobstructed momentum VS the ones who are kicked out of the game at the first sign of failure… The first sign of trouble.
The ones who are always winning understand two things better than most:
- They’re not entitled to any of it — they have to earn it, every day, then wake up again and earn it again
- They don’t expect anything handed over easily, and they absolutely expect it to be challenging
Sometimes I sit in my office and I actually think about this… how surprising it is to me, when I look at the landscape of entrepreneurs trying to “make it” right now — and I literally try to figure out how, or WHY, maybe… people are so weak.
I know. “How mean” right?
But your expectations determine how “hard” or “easy” your life is going to be. And we are well known for saying what’s true regardless of the implications… you may stop reading this blog because it’s too harsh. Have fun staring at your 18th place trophy every night before bed…
I want to talk to winners for a moment. All the rest be advised to LEAVE.
There is too much weakness in the game today. We were BOUND for an economic correction not because it’s been “too good for too long..” I don’t read that as a “sign” we are about to correct. The sign, to me, of impending correction, is an overabundance of weak people, weak entrepreneurs, and weak decision makers prevalent in the marketplace today.
You see this in the natural order of things, not just business. Too many rabbits leads to an abundance in food and wolves become more plenty. Then they eat the rabbits and there aren’t enough — so wolves starve. Then there aren’t as many wolves, so rabbits fill the forests…
Plus one for friggin science… it’s the same in business. We live & operate in cycles and I knew we were bound for some shifts because of how many freaking WEAK PEOPLE are still kicking… making a little bit of money here or there… claiming to be something they ain’t while the A-players compete with the people at the bottom.
Mark my words, the people who take themselves and their businesses seriously will flourish in the coming times. The key differentiator between the strong and the weak — and this is from my own personal observation — the key differentiator is ENTITLEMENT. Something about weak people just magnetizes entitlement and they think the whole reason they were born was to enjoy the plenty they never worked for.
You will not find players operating this way. No, we want to pay the price and pay it in full. Nobody will take anything from me because at the end of the day I will have earned it and the person I became in the process is capable of dealing with failure.
A Note On Safety
Your biggest risk isn’t even “risk” itself…
Another one of my “observations”: 90% of people doing this entrepreneur thing are optimizing their entire lives, GROUND UP, for safety…
Doesn’t sound so bad until you realize that successful people don’t optimize that way. Successful people optimize for GROWTH.
What is so odd about this is that most people who are optimized for safety and security — If you hop into their goals, what they tell their friends and the people who know them — you’d think they’re actually trying to grow. They want more profit and more income and better clients.
But, tally their DECISIONS… the real litmus test on what a person actually wants… and you find them either making no decisions (stuck in inaction) or making decisions purely from a place of fear & “risk aversion.”
You won’t grow this way.
We’ve written about this at length before (risk being an asset that you must use or it’ll waste away) so I won’t rehash it all here. But I will leave you with a word of encouragement:
INVEST YOUR RISK WISELY.
If I could go back and do it all over again, I would do the exact same thing I did. I made decisions early in my career that were optimized to get me what I wanted to go (stable business growth, longevity, big income, control, etc) and all of that led me to developing skill sets and coughing up investments into building my ability to think.
Had I optimized for certainty or safety or optimized to eliminate the risk, you wouldn’t be reading this right now… I wouldn’t be who I am, and the world would be worse off for it. I’m all for mitigating or lowering risk when it’s appropriate, it’s when people are trying to eliminate it that I think, “Sad, they will never make it.”
I’ll leave you with this — until next time:
“I don’t want to find myself in a nursing home someday, thinking that all I did was play it safe.”
– Charlie Eitel