I have been fortunate enough to experience massive growth several times in my business. It has always been at specific times, not steady growth, but ‘growth spurts’, kind of like teenage boys. One minute their clothes fit, and the next you are going shopping because they just grew a foot overnight! When I look back at the times that these large growth spurts happened, not only in my business, but that of some of my entrepreneur friends also, I noticed that there were some common trends.
First of all, massive growth rarely happens in any business without some kind of intervention. Customers do not come crashing through the door suddenly – usually there is some kind of event, sale, or other planned sequence that leads up to that growth. In social media, we call it “putting in time”. You have to put in the engagement time and effort before you can reap the results from social media.
The other thing that people sometimes do not realize is that hyper-growth is not a straight line. They think that you start at one point and the graph goes steadily up. Nothing could be further from the truth. Growth is messy. There are ups and downs. It’s painful. And it’s freakin’ awesome!
I also want to emphasize that growth in business does not only mean financial growth. There is a maturity that comes with growth in forms that cannot necessarily be measured, such as culture, lessons, connection & status.
While a sale can produce a ‘bump’ in your income, it is short-lived and when the sale is over, the business goes back to ‘normal’. There are a few things that I can say that have contributed to my growth, that have elevated my business in such a way that it doesn’t go back to ‘normal’ ever again.
The big gurus out there make launches look easy. What they don’t tell you is that they don’t sleep for 10 days straight to produce those million dollar plus launches. It takes a team effort, there is a significant financial investment and there is usually some serious technology involved.
However, smaller more targeted launches can sometimes produce some pretty decent results. I did a Telesummit event a couple of years ago but I tried to do almost everything myself. If I could give you one piece of advice that has held me back from creating growth, it’s that I didn’t hire out soon enough.
But I got lucky and managed to put lots of people on my list, and got on the radar of some fairly big influencers. It’s important to note that I really didn’t make any money from launching this event – everything I made went to paying the expenses.
Done right, you can add thousands of people to your list while at the same time producing a lot of income. Going through a launch is a huge learning curve, even when you hire people to help you run it. Once you’ve gone through a successful launch, your business will have changed forever.
As a life-long learner, I believe that education is important to not only grow your business, but other areas of your life too. I spend a lot of money on education because I know that it will bring me closer to my goals. I’m sure you’re aware that there is a lot of crap out there on the internet, but there are also some very valuable teachings that will move you forward if you participate.
I also read a lot of books. I watch videos, listen to podcasts, and anything I can get my hands on. Education doesn’t necessarily have to cost a lot of money, but many times in my business it has paid off time and again.
If I had to choose the biggest single thing that has moved the needle for my business, it’s coaching. Right now I have two different coaches because they serve different functions.
A couple of years ago I took a group coaching course that changed my business. The information that I learned in that program is still useful today and I use this material all the time. I also keep in touch with some of the participants I met in the course and have even partnered with two of them on projects.
At the time that I took that group coaching program years ago, it was a $5K investment. I remember thinking it was a lot of money for me at the time and I almost didn’t do it. Looking back now, the decision to make the investment was one of the best ones I ever made in my business.
Coaching is a very personal fit. When you decide to make the investment in coaching, decide what your objectives are and interview coaches based on that criteria.
I have spent tens of thousands of dollars over the years on various courses, travel, and coaching and I can say that it was totally worth it. Even the ones that didn’t work still taught me something. If you are ready to move the needle in your business, let’s chat to see if we would be a good fit to work together.