If you want to see sustainable growth in your business, you have to know and stay focused on the right actions. In this episode, Chris explains why understanding your core competency gives you the power to stand apart from your competitors and organize your team more effectively. You'll hear how some of his clients are leveraging their core competencies to generate eight figures a week and how you can narrow in your focus the same way. If your attention is being pulled in different directions and you don't know the exact actions you need to take every single day to grow, don't miss this episode.
When you master the art of staying focused on the right actions, growing becomes infinitely smoother and far more predictable.
In this Episode:
- Why you have to master the art of staying focused on the right actions
- How focus helped Chris put 4 out of 5 competitors out of business within a few years of opening his first company
- How understanding your core competency will motivate your team to make the best use of their time
- Three businesses that hit a growth plateau before understanding what they needed to do to drive growth, and the results they saw from staying focused on those actions
- An exercise to help find your core competency
The hardest part of growing a company is staying focused on what really matters. The few actions that actually drive growth.
And that's what we're going to cover today because when you master the art of staying focused on the right actions growing becomes an infinitely smoother process with far more predictable results.
The Hardest Lesson in Business
One of the hardest lessons to learn in business is to stay focused.
To learn the few actions that that really drive your growth, and then to take those actions every day.
And here's the power of that.
My first large business was a chain of health clubs and I remember building one of those clubs in an area that ALREADY had 5 other health clubs in about a mile of where I was building.
Every one of those clubs had been in business for years:
- and knew how to advertise on local TV
- and had deeper pockets to advertise on billboards and direct mail
- and they had roots in the local community
- I didn't have any of that.
But I knew how to build relationships with our members and prospects and with our team and with the township, and I was very good at that and that's what we focused our message on.
And within a few years of opening our doors, four of those five either went out of business or sold. Because we knew that our #1 strength was building relationships and that's what we focused on.
What Matters Most to Grow Your Company
Other clubs focused on selling someone when they walked in. We focused on learning what they needed and giving that to them over-delivering then asking for a referral.
Now there's no way for me (without meeting you) to tell you how to figure out what matters most to grow your company but your job as a CEO or owner of your company is to know exactly what drives growth, so you can define for your team what's the best use of their time.
And what you'll find is that there are only a few actions that drive most of your growth.
The Three Different Companies in Our Advisory Program
I'm going to go over three different companies in our advisory program that had hit a plateau in their growth until they understood what really drives growth for them.
...And focus on those actions!
- Great at driving traffic and branding, but horrible at building a database, customer support, upselling, and monetizing customers. Yet they drive enough traffic to generate 8 figures a week.
- Great at team building, but horrible at all things internet related. Yet built such a great team of experts, they generate over 8 figures a week too.
- Great at radio and seminars, but horrible at continuity, online sales, and any traffic source other than radio. Yet they sell out over 200 seminars a month and generate 8 figures every month.
You need to know what the top one to two things are that if you truly focus on them as a company will be the game changer for your organization.
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