“Leeches are segmented worms that belong to the phylum Annelida and comprise the subclass Hirudinea…Blood-eating leeches use their suckers to attach to the skin of various animals.” – Wikipedia
Wait, what? Why Leeches?
Yes, if you are building a selfish company like a leech that sucks the blood out of your employees, your customers, your partners, your peers, your competitors, and your family. And doesn’t deliver value to them.
And you want to build a $100 Million Business, Then don’t read this post. Yes. Don’t read it!
I read a few blog posts from Forbes, Business Insider, Entrepreneur.com, and some other popular articles on this. Also, I listened to a podcast from The School of Greatness on this topic.
I have distilled what I learned into a comprehensive list of 20 mindset changes to Take Your Business To A Hundred Million Dollars:
- Find a growing market – Market Research is key here.
- Keep your business Focused.
- Be the best – Dominate your niche.
- Promote Your Passion – Personal Branding – You are the face of your business, tell a compelling story why you are passionate.
- Disrupt the Market – Don’t follow. Dominate!
- Set Unreasonably High Expectations – Don’t be mediocre, Strive for Excellence.
- Client Referral / Viral Effect – Make your customers share – excellent customer experience and customer value can take you there.
- Create a Charitable Mission for your business.
- High Life Time Value (LTV) per customer – Go for High Ticket.
- Consume data – Market News, Ride the news, Growth Hack your way.
- Form Allies / Long Term Affiliates – Pay commission to affiliates for the lifetime of the customer to an affiliate.
- Over-Invest Early in Sales – Hire Salespeople to duplicate your customer acquisition.
- Stay Scrappy on Marketing Spend – use the free-ways to deliver value and build up your audience.
- Hire Wisely – Before you hire, give them a mini project to do that’s related to the job for which you are hiring.
- Build an Infrastructure at 20x of what you think you will need – Scale up your infrastructure early.
- Get out of the building – Talk to customers, understand the market, and their pains. Address them with the help of your business.
- Think monetization from the start. Freemium is dead.
- Hire all-star A players. Say no to mediocrity.
- Know Your Numbers / Metrics.
- Fire Yourself from your business – Systemize everything.
For a limited time, I’m available for a 30-minute strategy session. We can talk about how systemization, metrics, and processes can help your business to INCREASE YOUR PROFITS. You can schedule a 30-minute call for FREE at my profile here: https://calendly.com/mzee/30min