Lessons From This Week’s INC 500 List of Fastest Growing Companies

The new INC 500 list of America’s fastest growing companies just came out.

It’s full of fascinating statistics about these top performing young companies.

Here’s some stats that I thought you might find interesting:

39% said running their business has had negative effects on their health.

30% had already had children before starting their companies.

59% worked at a corporation before they started their business. (10% started it direct from college and 9% came from start ups).

Interestingly 46% of the founders have made investments in other start ups.

54% have policies in place to support remote workers.

68% give their employees different jobs to help their development. (23% reimburse money their staff spend on training)

59% said finding good staff was one of their biggest issues. (We can all relate to that one).

And when it came to getting the funds to start their businesses, 74% got it from their personal savings, 20% from loans from family and friends, and surprisingly 22% got it from credit cards.

45% used less than $5000 to start their company. 19% used between $10,000 to $50,000.

Only 4% of the Inc 500 its got their start up funds from venture capital. And even now 47% have never sought out VC money.

Finally, when it comes to their exit plan, 42% aim to sell to another company, 13% to investors and 20% haven’t even thought about it.

For me, the stats that stand out are the ones about their original capital raising. Clearly most of them did not use a lot of money to start their company. And they still did pretty well.

A great idea, good people and hard work is usually much more important than funds.

We should strive to get most of our growth from our company’s cashflow.

How do you define genuine success?

What does Success mean to you?

It such an important question.

If you don’t take the time to answer it for yourself, you could end up feeling miserable about your entire life.

But if you get really, really clear about what genuine Success means to you, then you can design your life so that you achieve a level of happiness way higher than the average person.

The brilliant philosopher, speaker and entrepreneur, Joseph Rodarick Law, addressed this issue in his magnificent new book, ‘Authentic Power And Greatness’.

He interviewed some of the leading people in the world- everyone from high level monks to famous authors, and asked them what genuine Success meant to them.

I was fortunate that I was one of the people he also interviewed.

So if you’d like to read what all these people’s advice was for leading a truly Successful life, click to the article below:
https://au.finance.yahoo.com/news/define-genuine-success-worlds-greatest-minds-answer-021456869.html

There are some very elegant and powerful answers, that could really help you define your own answer to that all important question:

‘What is a successful life?’

3 Questions to Ask Yourself to Increase Your Revenue

This is my shortest blog ever.

But if you put the concepts I’m about to suggest into action you could make a large amount of money in the next 60 days.

Here’s what I want you to do.

Allocate 30 minutes and sit undisturbed with a pen and paper.

Then spend 10 minutes thinking about each of these questions:

  1. What got me business before and how can I do more of it?
  2. How can I justify charging more?
  3. How can I reduce the risk of someone buying from me?

Then, take immediate action on what you come up with.

Business transformation needn’t take a long time.

It can happen in minutes.

How to Build a Business Wealth Machine

You may be worried by how your company is going.

You may wonder whether it will grow and prosper.

But it’s important that you understand that creating an awesomely profitable company is not a matter of luck.

Making millions from your company should be highly systematic.

I have built 4 multi- million dollar companies in a row. I also co-founded the 15th biggest marketing services group in the world.

I have personally made several tens of millions of dollars from building my own companies.

And these days, other than investing my own money, I spend all day mentoring business owners like you.

So without wanting to brag, I really do know a lot about how to grow a company.

If you want to be sure your company is going to have a fabulous future, you must make sure you do each one of the list below:

  • Have a reliable method of systematically brining in quality leads. (Most entrepreneurs just rely on referrals and reputation).
  • Spend meaningful amounts of time each week doing effective outbound marketing. (Most business owners have no consistent outbound, and so don’t actually connect with many prospects over the course of a year).
  • Have a superb ‘stay in touch’ system. Most people don’t realize that most of the money is made at this stage.
  • Do things in a clearly different way to your competitors. (Here’s the crazy thing: most potential clients cannot actually tell any difference between you and your competitors- they all look the same to them.
  • Deliver on what you say, by when you say it. (Missed deadlines are the beginning of lost trust between the client and your company).
  • And deliver a product or service that works.

That’s it folks.

Just do those 6 things every week and you are almost certain to make a large amount of money from your company.

So, the big question is, are you doing all six? 

If not, which ones are you weak on?

It’s really important to get all six right. If you are missing just one of them, I cannot guarantee your success as a business owner. Your financial future could be painful.

But get all six right and you can become supremely wealthy. Really.

So please, focus on these and develop every one of them to a high standard of excellence.

And if you need any help building a highly profitable company, book a free session with me.

You can book one here.

(All I ask is that to qualify for a session, you must have an active business that turns over at least $100,000 a year.)

I’ll listen carefully to you describe what you are doing now, and then I’ll give you an exact plan on what you need to change and how to turn your company into a wealth machine.

Book your free session with me here.

The 90/10 Rule. A Fabulous Way to Be More Productive

If you want to succeed in business, it’s absolutely vital that you maximize your productivity.

In this short video, I explain a really unusual but supremely effective way to get a lot more done.

I call it The 90/10 Rule.

When you use the 90/10 Rule, you will handle problems at work a lot more efficiently.

You’ll stop focusing on what’s going wrong in your business. You’ll significantly reduce your stress.

And you’ll massively increase your confidence.

I explain how The 90/10 Rule works here:

So give the technique a try today.

It will make a huge difference to how much you achieve.

And to how happy you are.

One of the World’s Greatest Entrepreneurs Just Died. What Can You Learn from Him?

Ross Perot just died.

An amazing man, Perot created not just one multi-billion dollar company, but two.

Think about how hard that is.

Not only that, he ran twice for U.S President as an Independent, a truly radical thing to do in the Nineties.

And amazingly, the first time he ran he got a massive 19% of the votes!

He also was the major financier of Steve Job’s new company when he left Apple in the Eighties and formed Next.

A true legend, a brilliant entrepreneur and well worth us all studying.

To introduce you to how Ross Perot thought about business and life, here are some quotes from Ross that give you a sense of the man:

‘If you see a snake, just kill it – don’t appoint a committee on snakes.’

‘The activist is not the man who says the river is dirty. The activist is the man who cleans up the river.’

‘Eagles don’t flock, you have to find them one at a time.’

‘Spend a lot of time talking to customers face to face. You’d be amazed how many companies don’t listen to their customers.’

‘Inventories can be managed, but people must be led.’

‘Most new jobs won’t come from our biggest employers. They will come from our smallest. We’ve got to do everything we can to make entrepreneurial dreams a reality.’

‘Failures are like skinned knees, painful but superficial.’

‘Life is like a cobweb, not an organization chart.’

‘If you can’t stand a little sacrifice and you can’t stand a trip across the desert with limited water, we’re never going to straighten this country out.’

‘If someone is blessed as I am is not willing to clean out the barn, who will?’

‘Most people give up just when they’re about to achieve success. They quit on the one yard line. They give up at the last minute of the game one foot from a winning touchdown.’

‘You don’t have to be the biggest to beat the biggest.’

RIP Ross.

If You Want More Clients, Be More Emotional.

If you want to win more clients, there are two areas you can work on.

The first is logical.

Logical improvements include changing what you say to potential clients. Changing the order you say it. Changing what your offering is. Or how often you follow up.

These are important changes to experiment with. And I can almost guarantee you that if you intelligently alter how you do these four elements, you will end up winning a lot more clients.

But these are all in the realm of the logical, the practical, the procedural.

But there is a whole other realm that you can explore, when it comes to converting leads into sales.

And that is using emotion.

The truth is, in almost every industry companies are chosen not just based on what they offer in a practical sense, but by what the potential client feels when they talk with the company representative. (You).

Do they feel that you are a decent person, someone kind, somebody ethical?

Do they feel that you genuinely care about their situation.? That you are not just going through the motions?

Do they feel like they would enjoy doing business with you?

These more subtle, more emotional aspects of the sales process are not only as important as your logical arguments, they are usually much more so.

In a world where there are usually tens of companies that could deliver a good job, trying to win through logic is often a weak strategy. You are still just one of many similar alternatives.

In the end, people buy from people. They are either attracted or repelled by you at the heart level.

So I urge you to review how you come across in that dimension, rather than being stuck in the logical and mundane.

Change how much you feel for them. How much you care.

Elevate your heart and you will elevate your income.

A Mysterious Way To Increase Your Business Success

As a mentor to business leaders, I often ask myself this question:

Why do some intelligent people fail at business?

I regularly see smart people who work hard and do many of the right things, yet sometimes they still do not have much success with their companies.

Why is that?

Well sometimes I think it’s because they don’t do enough sales and marketing. And sometimes they have personalities that just rub potential customers up the wrong way.

But at other times I think it’s something far more mysterious.

I think they fail to succeed at an ultra-high level because they lack intense desire.

In my opinion, intense desire is a more hidden but crucial component of success in business.

When you really desire something, you think about it all the time. You constantly try things. You are always conceiving ways to bring yourself closer to your desired goal.

You take more risks. You reach out to more people. You persist longer. You work harder. You notice more things that could help your business.

And as a result of all these little differences, you experience more luck. More things go your way.

Now some people may think that desire is relatively unimportant in business- that if you just do the right things for long enough then you’ll eventually achieve a great result.

And while I think that is true to a certain level, above that are people who succeed with extraordinary speed and enjoy incredible luck as they do it.

I strongly believe the difference is often the intensity of desire they have deep inside of them.

Why not put this concept to the test in the next 4 weeks?

Ramp up the desire in your heart to be extraordinary at business. Really light the fire.

Then observe how your business has changed in a month.

If you do this experiment with full commitment, I think you’ll experience some examples of unusual luck and success.

Intense desire could well be the missing ingredient to you achieving your goals.

Are You A World Class Entrepreneur? Take This 2 Minute Test.

I’ve coached well over 1000 CEO’s and entrepreneurs.

And I think the great ones share similar characteristics.

In case it helps you, I’ve listed what I think are the key character traits of great business people below.

To see how excellent you are at business, simply give yourself a mark out of 10 for each of these.

In just two minutes you’ll know how good you are and specifically what you need to improve.

So, here we go…

In my view, great business people:

  1. Are extremely clear on their quarterly and annual business goals.
  2. Are decisive – they make most decisions relatively quickly and stick with them.
  3. Plan their work days carefully and stick to that plan.
  4. Give out positive energy to those around them.
  5. Keep trying when others give up.
  6. Focus on new sales constantly.
  7. Have intense desire to reach their business goals.
  8. Are hungry to learn new business skills.
  9. Watch their finances closely.
  10. Lead their employees strongly- insisting on high standards.

How did you go?

What areas are you strong at? Which areas need more focus from you in the coming months?

After mentoring CEO’s and entrepreneurs for a decade, what I know for sure is this.

Most great business people are made, they are not born that way.

As Brian Tracy says, “All business skills are learnable.”

So make a note of what areas you need to improve, to become a world class business leader.

And get to work.

A Totally New Way To Achieve Your Most Important Tasks

As you know, I mentor entrepreneurs and CEO’s on how they can achieve more.

As part of that, I do a lot of research and experiments on myself, to see what really works when it comes to elite business performance.

Well recently I invented a way to work that I’ve found really helpful, so I thought I’d share it with you, in case it helps you too.

I call the method ‘Search For Uncomfortable’.

It’s simple to say, hard to do, but if you do it right, it can revolutionize how much you achieve in your business.

It works like this:

Every day you make a list of all the work tasks that make you feel uncomfortable. That you are nervous about doing. That will be a real stretch to perform, or that you just don’t want to do.

Then you do those tasks.

I’ve found it’s an incredibly effective way to send your work results through the roof. Because most of the tasks that make you feel uncomfortable doing are the ones your company really needs to get done.

Like sales outreach. Or marketing. Or having a tough talk with a team member. Or learning a new work skill, or to use some software you know nothing about.

The kind of tasks you’re always putting off. The tasks you avoid even thinking about.

These uncomfortable actions are gold for your company’s growth. They take you far higher than just doing what’s easy, or usual in your industry.

These are usually the ones that all your competitors don’t want to do either. So if you can bring yourself to do them, you often rocket past your competition.

The breakthrough for me was to actively seek these type of tasks out. To move towards them all day long.To focus on my entire day on doing them.

I put a little Post It note on my desk that says  ‘Search for uncomfortable’, so I’m constantly reminded of the principle through the day.

I’m not saying it’s pleasant. But it has really lifted my results.

And paradoxically, the more I focus on these uncomfortable tasks, the better I feel inside.

So try searching for uncomfortable. And prioritizing it daily.

I think that focusing on doing the uncomfortable consistently will virtually ensure you have a great future.

As my wife’s mother so wisely says,“Hard now, easy later. Easy now, hard later.”