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How to Achieve 2x, 5x, 10x Growth

July 20, 2015

Everyone in business wants to grow! Some might see 20% or 30% as effective growth. Others might set their sights on 50% or over 75% growth. But from the viewpoint of earning a return on your investment (time, money, energy, talent, or any other resource), these are pretty paltry.

Most businesses need to double their revenues at least once or twice before owners/investors can begin to relax about having enough cash flow and worthwhile budgets to accomplish the things they wanted to when they first began.

Working ‘a little harder’ will bring a little incremental growth. Working ‘a lot harder’ brings more growth; but it is still incremental – not transformational. In order to achieve 2x, 5x, 10x and more growth, you need to change the way you think, act, lead, and engage with others.

transformational growth

Exponential growth is compounding acceleration!

Here are 8 steps that WILL bring about transformative growth.

1. Decide the following:
THAT you want it! Decide that you deserve it as well as why you want it in the first place.

Decide what you are willing to invest/change to achieve it (hint: The vast majority of your current systems and habits will not make the transformation).

Detail the things that ignite your passions, creativities, and curiosities?

2. Write it down in clear, specific language.
Work with these ideas until you have refined them in simple terms or concepts that you can explain them to others. It will never be perfect, the beauty is in their continuous evolution.

Each of these notions will come with their fair share of fears, considerations, and roadblocks. Write those down clearly as well. Only once we admit and understand them can we deal with them and see ways to overcome them.

Write in terms that are important to YOU. Then write it in terms that are important to others (ideal audiences). I like to end my dreams and desires with “… or something better”.

3. Share your dreams, desires, and goals with others  with everybody!
It is not an ‘elevator pitch’ or a request for money or support. Say it like your 6yr old niece says she is going to be an astronaut or firefighter – with sincerity and conviction as if nothing will stand in her way.

Some will listen, offer to help, want to join, while others will offer some form of accountability. You should know that the majority of people will either ignore you or laugh at your idea. You’re not likely to win them over with further explanations; but those new explanations are perfect for someone else.

Accept help along your journey – from those you already know, from new friends/associates, as well as from total strangers. There is no limit to the diversity of ways help will be offered. The most important thing to remember is that it is not possible to do everything by yourself.

4. Act daily towards your dreams and desires.
Meditation is an action. Thinking, pondering and planning are too; as are writing, talking, sharing, and engaging.

Don’t just take action. Take chances, gambles, guesses, and numerous half-brained attempts without fear. Keep diligent notes on your results and what you learn from such action.

5. Learn what you don’t know.
You don’t need to be an expert, but it is crucial to know enough to ask worthwhile questions and call someone out on BS. Money, finances, legal, accounting, sales, marketing, and leadership can each be boiled down into basic fundamentals anyone can understand and follow.

While you focus most of your time on your preferred subject areas; do dedicate some time to learn about other areas of business. There are thousands of books, blogs, webinars that can help you build your knowledge base with very little investment in time or money. Your local branch of public library is often an under-utilized resource.

6. Celebrate often!
Celebrations build confidence and momentum within yourself and your teams. Having lots of little celebrations as well as major celebrations helps keep you and your team focused on growing.

Catch others doing great stuff; even if it is approximately great. Share successes with those who helped you earn it. Thanks and gratitude can be expressed in millions of different ways. Practicing them will continue to keep you and your people engaged.

7. Track your progress.
Some things are best measured daily, weekly, monthly, or annually while others are best over period of 5 or more years. Dedicate yourself to a 20-year journey with lots of milestones. This journey will be filled with challenges and victories.

Challenges are overcome by momentum, education, and sheer determination. Documenting and tracking such progress helps provide insights and physically shows your momentum

8. Help others along their journey.
Share information and experiences or volunteer to speak with kids in school. Invest time and/or money into new ideas whenever you can to help someone else avoid or accelerate through the same challenges that slowed you earlier.

Every day is not only a chance to learn something new; but to help someone else learn as well.

 

As you can see, business growth isn’t difficult per se. There is no such thing as magic pixie dust that makes it happen. It is the result of simple things done with daily discipline.

I encourage you to like, comment, re-post, or otherwise share this with others. This helps me fulfill my purpose to Build value. Build people. And Build business.

 

 

* * * * * * *

david r frick is a business artist and founder of SuccessVentures – a consulting firm focused on helping owners and entrepreneurs build transformational growth and
helping companies meet the demands of contemporary business environments. 

He regularly writes about leadership, success,and integrating marketing with sales.
Follow, connect, comment, and share if you like what you read.

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