Business Growth Blog

Building Your Vision
(The Mindset of an Entrepreneur)

When we’re talking about quality business growth – online or offline – the very first step is to sit down and BUILD YOUR VISION of where you want to end up. You have to see yourself 6 months, 12 months, 5yrs, 10 yrs down the road – what kind of assets do you have – how much is that all going to cost?

…the biggest mistake I see entrepreneurs make is that they only have a goal of making more money – but they have no idea of how much they need to live their dream life.

So they literally try to take advantage of every opportunity that comes their way.  

For example – I can show you how to build a seven figure speaking business – but if you take all the speaking gigs that come your way, you’ll never get rich – in fact all you’ll get is exhausted and burned out!

If you want to be a speaker, you have to evaluate how much you can make at each event.  Here’s how to do that: If there are going to 500 people there, and they’re all going to be coming to learn how to get in shape – and that happens to be your expertise – and they all paid for their seats, then you might expect to make 50 – 100k from that one event if you do things right.

Knowing those numbers allows you to accept – or pass – on certain speaking offers – and it allows you to accurately estimate how many speaking gigs you need to do each year to reach your goals.  Lets say for example that you have a goal of making ½ million dollars.

½ million dollars at let’s say 50k profit each means that you have to do 10 speaking gigs a year to make your goal of ½ million dollars…

…and if all you need is that amount to live in the house of your dreams, and travel the amount that you want, and set up college funds for your kids, and donate to your favorite cause … then that’s it.

…but if you don’t know how much you need to fulfill your dreams, then you’ll always be working harder than you need to, and you’ll always horde your money because you don’t know when to spend it, and you’ll always jump on every single opportunity to make more and more money…

Which means you’ll have less and less time to spend with your family, your friends, and yourself.


A Roadmap To Get You Where You Want Your Business To Grow To

After you know how much you need to live your dream life, you have to SET SOME GOALS.

…and this isn’t a goal setting book– there’s hundreds of those out there – this is a tactical planning book so we’re not going to get too involved with goal setting, but if you honestly jump into business (any business) without clearly thought-out goals, then there’s no way for you to ever know if you’re on the right target.

Keep in mind that any goals you set need to do three things:

1.    They have to be clear.
2.    They have to have a deadline.
3.    They have to be broken down into action steps.

Every month I get together with a 8 of my friends for dinner – all of which started businesses from scratch and most of which started those businesses using credit cards – and now they’re companies range from 5 million to 700 million in gross sales.  That’s pretty darn good for a group of people who started with nothing and built strong businesses – and one of the main things we discuss each time we get together is what our goals are.

Goals are important no matter what cycle of your business life you’re in, but so many people who are just getting started skip this step…

One of the things I enjoy doing at my seminars, is spending time with the audience during the breaks – and every time I do that – I ask people what their goals are…

…and within a minute or 2 of speaking to someone I can always tell if they’re making a lot of money or not – because those people who can clearly verbalize a measurable set of goals are always the ones who are making the most money.

It’s weird how basic this is, yet so many people who want to build a better life, ignore the process of having clearly defined goals to guide them.

Think about this… If you have your goals written down – and you’re surfing around online, and you come across a sales page that’s so powerfully written – so compelling – so magnetizing to you, and it promises you that it’ll help you make an extra million dollars over the next 12 months – by … let’s say… learning how to sell on e-bay, but learning how to sell on e-bay is not one of your goals – then you can pass that opportunity right by and stay on track.

You see – it’s not always the boat with the biggest sail that wins the race – the boat with the biggest sail gets taken in a different direction with every big gust of wind.

If you have the biggest desire to make money but no clear goals to keep you on track, then you’re like a boat with a big sail – and every opportunity sounds like the one you’ve been waiting for all your life.

…So…  you need a vision for yourself… and your vision for you business has to fit within your vision for you life, then you need goals so you can know which opportunities will accelerate your growth and which ones will take you in a different direction entirely.

Take Action Right Now:

1. Create a vision for yourself
2. Create a vision for your business (that fits within your life vision)
3. Set goals that will accelerate your growth


Focus Only On Your Core Competencies To Accelerate Your Growth

I was honored last week by being invited to a party that included almost every big name internet marketer from around the world – it’s the first time that we were all together under one roof, in such an informal atmosphere that we could all just let our guard down and talk like friends.

At the end of the night, I was sitting down at a table with 5 others… and we started talking about how we delegate stuff in our businesses …

…and one thing was common among every single person at that table.

We all focused only on our core competencies – or our core strengths – and we did whatever we could to delegated the rest of our daily tasks to people who’s core strengths made-up for any of our weaknesses.

One of the common traits of someone who consistently fails to reach their goals of building a powerful business or writing their book is that they always seem to find a reason to wear multiple hats in their business – meaning they do almost everything themselves – and almost across the board they think that they “have to do it that way because they don’t have enough money coming in yet to hire anyone.

But it’s not their lack of income that’s holding down their ability to delegate …. It’s their lack of delegation that’s holding down their income.
I know of a guy who’s a master at writing – he loves it and he does it every day in one form or another.

Every day he writes 3 articles for 3 different blasts to his lists – and that’s it.  That’s pretty much all he does…

One person gets his emails and says – “oh my God, how does Mike find enough time to write 3 articles a day”.

Another person gets his emails and says – “oh my God, ALL Mike does is write 3 articles a day”, which takes him an hour to do… then by 10am he wraps up his business and everything else except for a few daily meetings is delegated to others in his business.

Mike has 5 employees now and a multimillion dollar business… all because he knows that his core-competency is his love of writing – he does it good – he’s able to sell his products using his writing skills – and he’s found a few people who know how to do everything else in his business.

Now this is a big jump for a lot of people but when you stop trying to do it all yourself, and focus on maximizing your core strengths, you can profit substantially more in your business.

So you know that you need a vision of where you want to go, you know that you need goals so you can determine which opportunities are a blessing and which ones are a curse to your growth, and you know that if you truly want to be successful you have to understand what your core competencies are…

Foundational Tools:

1.    You need a vision of where you want to go
2.    You need goals with deadlines and action steps
3.    You need to know what your
core competencies are…and how to make them work for you in your chosen business


Choose the RIGHT Industry

If you choose a profitable industry … you’ll make more and have far more models to emulate – but if you choose a low income industry you’ll always have to struggle.

Here’s an example:

I can walk up on stage at any health seminar, give a powerful 2 hour seminar and sell a product afterwards and walk off stage with about $50k.

…but I can spend the same 2 hours speaking at a business seminar and walk off stage with double, triple or even quadruple that amount.

…because one industry attracts customers who are willing to pay $50 for a product, and the other attracts folks who will happily pay $5,000 or more IF you can help them reach their goals.

It’s up to YOU to choose which industry you spend the majority of your time in.

Personally, I love the health industry, and I have multiple health and wellness web sites, several health books, and 3 different health seminars that I do – but much of my company’s income comes from our business programs.

So why do I still do health stuff? – Because I love it!

You Can Still Do What You Love, As Long As You Do This First…

You don’t have to avoid an industry just because you find another that pays you more for your time… you just have to choose what industry you spend the majority of your time in wisely so you can make enough money to do what you love to do.

…and you absolutely have to be good at whatever industry you choose to focus on.

You can’t get into the business field unless you’re darn good at helping people grow their businesses.  The only reason why I keep getting asked to speak at all the seminars is because I have a track record of helping people to make massive leaps in their income.

If you can’t do that, then you need to find another industry that’s proven to be profitable …

Here are three things to keep in mind about finding a profitable niche or industry:

1.    How many people have a problem and are looking for a solution in this industry or niche? (While you can make money in a small niche, it has to be big enough to support your vision and goals.)
2.    Do customers in this industry or niche have the ability to pay for your products or services in order to get the answers they’re looking for?
3.    Is the Industry or Niche competitive? (If other people are already making money, then there’s a good chance you can too – just by adding more value – (in the minds of your prospects) than any of your competitors.

…and remember – although almost ANY industry can be profitable, you need to look at your core competencies and figure out what you’re good at, then look at your vision and goals, and see which of those talents of yours will get you to your goals the fastest.

That’s how you design a life that’s worth living… that’s how you design a business worth growing.


Do You Have a MASTERMIND Team?

Now the first part of any successful business model is our next topic – building and maximizing your team…

One of the lessons I learned early on is that a single person business can only grow so far, then you have to add a quality 2nd person to the mix to grow to the next level, but that growth is limited as well unless you add another quality person on… at the right time.

Now this blog doesn’t really allow the space to cover recruiting quality staff and vendors the way I’d like to with you – but if you get into my business consulting program I’ll show you the same ads that my company uses to attract quality talent for our customer support, our coaches, my personal assistant, and I’ll even show you how we’re currently recruiting a Operations person to oversee the whole business for me.

But what we can do here… is show you how to maximize your team:

Whether they’re virtual vendors or in house employees…

The first rule of thumb is that if we meet a quality person, someone who stands out in the crowd for his or her talents, and they have the same values that we have – then we bring them on board and find a way to maximize their talents – even if we don’t have a job opening at the time…

… that single rule has helped us grow way past our competition over the last few years.

…and you’ll be surprised how often you come across someone who’s talented and focused in the same direction that you are – IF you keep your mind open to the idea of recruiting.

Now once you have either vendors, or employees, or both… you absolutely need to hold team meetings – so every team member, no matter what part of the world they’re in, should be part of a team call every day…


How to Use Business Meetings Strategically

In my company, we run daily, weekly, quarterly, and annual team meeting – where all of our “virtual” and “in-house” staff show up – some call-in and some show up in person.

Our daily meetings are quick 15 minute calls – where we all state what our top 5 most important tasks for the day are… and if there’s any big problems that we need help with we bring that up to the group as well…. Now we used to do this just with our staff but it turns out that our vendors (even those in different countries) have a LOT to contribute, so now we invite a select group of them to join our calls as well…

Our weekly meeting on the other hand are the same format but they run for a full hour.

…and our quarterly meetings are where we – as a team – determine if we’re on schedule to reach our annual goals.

And obviously our annual meeting are where we evaluate what we accomplished over the past 12 months and what we want to accomplish in the next 12 months… for example, do we want to focus on selling more books, do we want to build our membership base, do I want to be on stage more or less, etc, etc, etc…

OK – what about if you’re just getting started – or if you don’t think the people on your team are big enough “thinkers” to help you grow?

Then you need a MASTERMIND TEAM – which is simply one or more people who have done what you want to do already – trust me when I say: you should do whatever you need to, to get quality people onto your mastermind team

When I was first getting started I was on a mastermind team that cost me more than $5,000 per month – and at the time I didn’t have that kind of money!

…but what I learned from those folks – helped me build my business and make a lot of money over the coming months!!!


The Simple Fact is “Like Breeds Like”

Listen… The people you choose to associate with and the people you choose as your friends have tremendous impact on whether or not you fulfill your destiny.

No matter what you think… You WILL become like the people you continually spend time with. If you associate with successful people, you just simply increase your chances of being successful – because the topics you talk about together will be growth related topics.

If you associate with people who have a big vision, people who have big dreams, and people who are going places, they’ll be able to show you how to grow, and they’ll inspire you to accomplish more than you ever thought possible!

But remember… the opposite is also true.

If you hang around lazy, undisciplined people… people who are negative and critical, then their defeated mentality is going to infect you.

That’s why it’s so important that you find time every week (or more) to speak on the phone or in emails with people who you can mastermind with – people who have already achieved what you want to achieve.

Thomas Edison, Henry Ford, and Harvey Firestone, 3 guys who shaped the world back in the early 1900’s… all had summer houses near each-other.

I mentioned to you in an earlier post that I was at a party the other day with almost every top internet personality and big name business speaker…

If you want to grow your business, then you have to look at who’s in your inner circle – is there anyone you speak to regularly who has already achieved what you want to achieve – if NOT, then it’s time to find a few of those people and begin masterminding.

…and when you do that, you can literally watch as your bank account grows…


System that Tracks EVERTHING

In business everything that’s measured improves, and everything left unmeasured becomes weak.

Let me repeat that … in business everything that’s measured noticeably improves, and everything left un-measured becomes a weak link in your business.

Think about your business – whether you’re selling 1 book a week online, or you have a multimillion dollar business … are you tracking everything?

  • Your sales?
  • Your expenses?
  • How much money a certain email campaign brought in?
  • How many people buy using PayPal?
  • How many use ClickBank?
  • How many use their credit card?
  • How many call-in their orders?

You should be tracking everything! And it should be a simple, fast process…

You should have a tracking sheet that allows you to quickly and easily input certain numbers on the form every morning so you can keep your finger on the pulse of your business.

Earlier this week I was interviewed for magazine article focused on the fastest growing businesses in New Jersey– and the writer asked me to list the top things that keep my business growing – and right near the top of the list was “tracking everything”.

Everything must be tracked, every vendor, every employee, and everything you do… must be held accountable to creating certain results and they should all be monetized.

With 20 years in the world of business, growing multi-million dollar companies and helping others to do the same, Chris Guerriero has become internationally known for transforming businesses into industry leaders, and individuals into leaders in their field. In addition to helping hundreds of smaller and medium sized companies to double, triple, or quadruple their bottom line. Chris has been the secret behind many of the top names in personal development, in politics, and in business, helping them to position themselves, their companies, or their products as respected leaders in their field. Click here to work with Chris

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