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How To Create a Business Growth Strategy



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How to execute your business growth.

Look, here's the deal if you're frustrated with where you're at

in your business or every day you wake up and you're like how

do I grow my business, you know?

Or maybe you're frustrated with the people and just in general

like at the end of the day I know that businesses

hit a wall at five years.

Maybe you're in business 10 years and really it's about not

growing 'cause every time I get the call people are like,

"I'm losing passion for my business."

Would you be losing passion in your business if you're making a

ton of money, right?

And I don't think is about money but I also want to make sure

that we address the right problem because if it's the fact

that you're not growing the business than that's what we

need to talk about.

Don't say you're losing passion with the customer or the market

or why you started the business 'cause those things are

typically not true.

You know, what I know is that when somebody's connected with

their vision, the business grows.

When they are hiring incredible people that also share in that

mission that are really intelligent and capable,

the business grows.

When they have a plan of attack, the business grows.

Not having those things that's when you run into challenges and

you know I definitely understood this challenge because to me

when I started my company Spheric,

I literally just like kinda showed up every day.

I was working a hundred hours a week,

I didn't really understand how to run a business.

I hated going to meetings.

You know what I've learned since then is that meetings are the

only tool that you have as a leader.

As a manager, as the entrepreneur,

the only thing that you can use to help guide and improve and

really kind of show people the way is meetings.

Now nobody wants to spend 30, 40% of their time in meetings so

what I want to walk you guys through is a way of thinking

about overcoming that.

Because my business Spheric shifted dramatically

when I understood.

I was sitting down with my advisor Stu,

really mentor, advisor.

I mean I hired him. I put down 150 grand I said,

"Dude, I need you to come in to look at this business to let me

"know where am I missing things that are just obvious to you,"

'cause this guy was retired.

Had run Executive Vice President of the one of the largest

telecommunication companies in our country.

So having that kind of expertise,

look at the business and give me guidance was invaluable.

The first thing he shared with me and he says,

"Look, the cool part is Dan you have a vision, okay?"

So, number one is you need a vision.

He was happy that I had a vision.

Here was my challenge.

I never shared it with anybody.

Mean what's the point of having a mission for your business if

you never take the time to communicate it with anybody?

And I like, "But what I should be sharing this every day?"

He's like, "Look, there's different ways you can do that."

You can kind of have everybody, you can have meetings and

recite it in the meeting.

You can talk to somebody and say hey the work you're doing

ties back to this which connects with our mission or when

somebody comes to you with a decision to make and you can

just kind of remind them, well here's our mission as a company

which decision do you think would most align with that?

So he really taught me not only to have a vision but how to

connect that within my team.

So that is, if you want to grow your business that is a

prerequisite has to be there get on it.

Number two is you need to have a three-year plan and some people

are like, "Well, I want a 10-year plan." Look the vision is the

10-year plan.

It's what's possible.

If I wanted to grow 10X over the next five years,

10 years, 25 years whatever it is,

that's the vision.

What you need that's more granular is a three-year plan

but here's the deal I use one piece of paper to draw my

three-year plan.

I literally start this upcoming year,

three years later, split it up into three years and then what

I do is I do per quarter and I just kinda start mapping high

level strategies and say what would need to be true for those

numbers to make sense.

How many people would I need on my team to make sure that

I could actually execute this strategy?

What kind of budget would I need to make sure that come together?

Because that's gonna affect the different things that I put

together on the plan and what order I do them in.

So you need a three-year plan.

The third thing that you need is a one-year plan.

Now here's what's different with the one-year.

Picture this, you have a grid, you have four quarters on your

one year plan, Q1, Q2, Q3, Q4 and look I'm the first one to

say and admit I hate corporate jargon.

I hate that... I even hate the word quarter.

If there was like look there's three parts of your year or four

parts of your year I'll use that but for you not to have a grid

that outlines alright, we've got the first part of the year which

is three months, okay?

Call Q1, call it whatever you want,

what are the activities, the projects,

the strategies that we're gonna execute in each month?

So it's kind of saying well if the three-year is just you know

three years at a higher fidelity,

when you come down to the one year it needs to be broken off

per month and I like to plan in 90 day, three months.

Call it whatever 12 week windows because I feel like that's as

far as the ability to actually make really good,

accurate decisions in your business is gonna happen.

So are the first three.

Now, this is when it starts to get granular.

Number four is you need quarterly review meetings.

Okay? Once a quarter, again I hate the word quarter,

but what do you want to say? Once every three months?

Once a quarter you want to sit down with your team and you want

to do two things first part of those meetings and I usually say

a minimum of a day most often two days depending

on the size your business.

You want to spend the first part of the meeting reviewing the

previous quarter.

The previous three month window and saying what did we plan and

what do we get done?

How good were we at executing our assessments?

That is the first part because you want that data,

you want that information to inform planning the next part.

Okay, so then in the second part of the day if you do the first

part of the morning and then in the afternoon what you want to

do is start to say okay, we know these things to be true.

How we plan the next quarter to hit our goals?

So you have the one-year plan,

you've got the next quarter in front of you.

You start planning the strategies.

Look, it should not take any more time than that.

But most companies don't give themselves the opportunity to

sit down and review it.

Right, they just keep going and going and they get struggling

and then they're frustrated and they're like

why can't I get any progress made.

It's like well you haven't planned.

You haven't given yourself the gift of stopping and pausing.

Really not only just looking at what you've done but

appreciating and rewarding yourself in building that

confidence of achievement because I know you're not going

every day to work and not making progress but I also know that

you're not taking the time to stop and reflect and that to me

is what those quarterly meetings.

So we have three that are quarterly and then the last one

for the year for me it's a yearly planning meeting.

So you have three quarterlies, you know,

the end of Q1, Q2 and Q3 and at the end of the year you do the

same framework, the same strategy but

you plan the whole year.

What did we do for the year, what did we do for next year and

that at a high level is super important.

So that's number four.

Five is weekly team meetings.

Now, I'm deliberately saying team meetings because the other

day I was working with a private client and I said, look you know

they're having some struggles in the business.

I said invite me to your team meeting.

I just want to get on there.

I'm not going to say anything, I just want to listen to the

conversation, the communication how people report.

You can learn so much about a business by just listening to

how they communicate.

And at the end of the meeting, I called the CEO back after and

I said, "You do realize that meeting was a client review

"meeting. It wasn't actually a team meeting."

And they were like, "What do you mean?"

And I was like, "Well, you talked about all the projects

"that you guys were working on.

"All the clients and how they're doing and how you're gonna get

"wins for them but you didn't talk about the business.

"About the marketing, the sales, the operations,

"legal anything about improving the way the

"business does what it does."

And they're like, "Oh."

I mean little distinction, just a small little tweak to realize

that they didn't even have the weekly team meeting.

So I gave them the format and the agenda and the following

week they had a weekly team meeting.

The team was like blown away.

It was almost like a light bulb went off.

Of course we would talk about sales and make sure that in our

planning we have those projects built in.

Right, of course, you'd want to get updates on

how the financials doing.

How is the hiring and the recruiting process going so that

we can keep up to demand.

That to me is a nonnegotiable every week as the leader you

need to be creating these meetings.

And then finally number six you need a daily stand up.

You need one moment in your day where the team comes together.

You can do it on the phone, I've used uber conference or other

conference technologies.

You can do it on video chat using GoToMeeting or Skype or

Zoom or whatever technology platform you want or that's why

I call it a stand up, in person nobody sits down and it's a

really simple format.

What are the top three initiatives that you did

yesterday, what are your top three objectives for today and

are you stuck and it's a reporting meeting.

Nobody's collaborating nobody's discussing anything.

They do it, It should take six minutes and at the end of it as

the CEO and manager you circle back

with anybody that's stuck.

That is the high level framework for running and

executing a growing business.

One, you need to make sure you have a vision.

Where're we going, what's the journey,

what's the destination?

Number two, you need a three-year plan.

You need to at least say here's we're at,

here's we're going and here's a high level things that we need

to be true for that outcome to occur.

Third, you need a one-year strategy plan

that's like a grid.

Right, where you do it on a monthly basis and split up in

the four chunks call them quarter,

call them whatever you want but that's how it comes together.

Then you need to make sure that you're doing quarterly reviews

on your team and yourself's ability to execute.

Even if you're two people in your company,

you should do this.

And then you need your weekly team meetings looking at the

different departments in your business and how you're

improving those and hen finally a daily stand up.

Some people call them huddles, call 'em what you want,

it doesn't matter.

You just need to connect because the team that connects more

often grows faster.

It's just of the way it works.

There's more opportunity to not let somebody go off on a tangent

or work on something that's not valuable.

You need companies and teammates communicating frequently.

That is the strategy for you.

I'd invite you to leave a comment below.

I want to hear from you what strategy

are you gonna implement?

Are you gonna start with the planning?

You gonna start with the quarterly reviews?

What thing resonated with you?

Leave a comment below and as per usual,

I want to challenge you to live a bigger life and

grow your freaking business.

I'll see you next Monday.

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I'll see you next week.