Mon, 18 December 2017
Full show notes at https://freedomfastlane.com/
Scaling your business to 9 figures in value seems daunting. How can this be done without working insane hours?
Yes, scaling up by an order of magnitude may seem out of reach. But right now, you're probably closer than you think.
Getting where you are now felt difficult, but that’s because you were working so hard to get off the ground. Now that you’ve found some substantial success, you need a sound strategy with a network that suits your business’s products or services.
Going from 7-figures to 8-figures is primarily about dialing up your marketing and sales efforts. Here, you monetize the customers you currently have, increase your focus on ecommerce, and maybe pivot to other marketing channels.
Going from 80figures to 9-figures is about successful investments. And investing for exponential scaling is Ryan’s forte.
Once your company makes $10 million in yearly profits, you can look to an exit for 8-12x those profits. But what if your company is making $3 million in annual profits, with three other competitors about that size in your industry?
What if those competitors are, instead, potential allies? If you merged forces or collaborated on a joint venture, you can package your combined value in a roll-up, and add an order of magnitude in value when selling the package.
And that order of magnitude came just from making a relationship. From calling up your former competitors and seeing what you could do together, you added another zero to your exit value.
You just massively scaled your business without having to do much more work than picking up your phone and dialing a few numbers.
Now you see how reaching entrepreneurial success doesn’t have to be like climbing a long staircase to the peak of a mountain.
There are incredibly effective shortcuts that people have and continue to use to accelerate their growth. Learn more in this episode of the podcast.
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