- No! The beginning of the should be what we do when Tips not on.
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
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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 10years 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 then 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 when you run into challenges and you know I definitely understoodthis 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 sincethen 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 useto 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 guysthrough 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 tolook at this business to let me “know where am I missing thingsthat 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 giveme 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 havinga mission for your business if you never take the time tocommunicate it with anybody? And I like, “But what I shouldbe sharing this every day?” He’s like, “Look, there’sdifferent 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 andsay hey the work you’re doing ties back to this which connectswith our mission or when somebody comes to you with adecision to make and you can just kind of remind them, wellhere’s our mission as a company which decision do you thinkwould most align with that? So he really taught me notonly to have a vision but how to connect that within my team.
So that is, if you want togrow your business that is a prerequisite has to be there get on it. Number two is you need to have athree-year plan and some people are like, “Well, I want a 10-yearplan.” 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 moregranular is a three-year plan but here’s the deal I useone piece of paper to draw my three-year plan. I literally start this upcoming year, three years later, split it upinto three years and then what I do is I do per quarter and I just kinda start mapping high level strategies and say whatwould need to be true for those numbers to make sense.
How many people would I needon my team to make sure that I could actually execute this strategy?
What kind of budget would I needto make sure that come together?
Because that’s gonna affectthe 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, Q4and 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’sthree parts of your year or four parts of your year I’ll use thatbut for you not to have a grid that outlines alright, we’ve gotthe 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’regonna execute in each month? So it’s kind of saying well ifthe three-year is just you know three years at a higher fidelity, when you come down to the oneyear it needs to be broken off per month and I like to plan in 90 day, three months. Call it whatever 12 week windowsbecause 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 sitdown with your team and you want to do two things first part ofthose 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 partof the meeting reviewing the previous quarter. The previous three month windowand saying what did we plan and
what do we get done?
How good were we at executing our assessments?
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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 partof the day if you do the first part of the morning and then inthe afternoon what you want to do is start to say okay, weknow 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 givethemselves the opportunity to sit down and review it. Right, they just keep going andgoing 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 thegift of stopping and pausing. Really not only just looking at what you’ve done but appreciating and rewarding yourself in building that confidence of achievementbecause I know you’re not going every day to work and not makingprogress but I also know that you’re not taking the time tostop and reflect and that to me is what those quarterly meetings. So we have three that arequarterly 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 atthe 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.
Business Growth Strategy
Now, I’m deliberately sayingteam meetings because the other day I was working with a privateclient 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 abusiness by just listening to how they communicate. And at the end of the meeting, I called the CEO back after and I said,
How do I grow my business, you know?
“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, justa small little tweak to realize that they didn’t even have the weekly team meeting. So I gave them the format andthe 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 aboutsales 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 therecruiting process going so that we can keep up to demand. That to me is a nonnegotiableevery 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 daywhere the team comes together. You can do it on the phone, I’veused uber conference or other conference technologies. You can do it on video chatusing GoToMeeting or Skype or Zoom or whatever technologyplatform you want or that’s why I call it a stand up, in personnobody sits down and it’s a really simple format.
What are the top three initiatives that you did yesterday, what are your topthree 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 sixminutes 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?
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How do I grow my business, you know?
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 ahigh 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 amonthly basis and split up in the four chunks call them quarter, call them whatever you want butthat’s how it comes together. Then you need to make sure thatyou’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 weeklyteam 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 becausethe team that connects more often grows faster.
Business Growth Strategy
It’s just of the way it works. There’s more opportunity to notlet 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. If you liked these tips. I’d also invite you to join my newsletter where I send out exclusive invites to private events and other free training, if you’re ready to goI got to playlist queued up and I’ll see you next week.