BUSINESS-KILLING MISTAKES #15 – THE BIGGEST THREAT TO YOUR COMPANY IS NOT THE ONE YOU SEE OR READ ABOUT – IT’S THIS ONE… 

Are you concerned or even stressed out over all the crazy world and economic disasters right now?  Trying to solve labor shortages, runaway inflation, supply chain hiccups, pandemic misinformation, on top of the regular day to day normal crazy issues, has everyone feeling overwhelmed. However, even if you solve every current major market challenge listed above, your company is at risk like never before.  What can and is working to kill your business the fastest is accelerating and it’s not shown on TV or cycled 24-by-7 on your newsfeed. 

WHAT YOU MUST KNOW

Here is what is threatening your business more than anything else. 

Your competitors are getting smarter and faster than you.

Yes, that’s it. Accelerated learning. But smarter at what? Ah, that is the focus of this article because smarter isn’t better it’s what you know that you can apply that gives someone a competitive advantage. 

Make sure your team reads, understands, and starts thinking radically differently, or every day will be more challenging to keep your doors open. 

Okay, enough doom and gloom, here is some good news.  Leaders who can accelerate their knowledge and make the switch from old thinking to new thinking are not only able to solve and survive the catastrophes listed above but will also be prepared for the future unknown challenges. Ready for another great recession or remember the last period of stagflation?   

WHAT IS THE BACKGROUND OF THIS CURRENT BUSINESS-KILLING MISTAKE?

Starting in the last century and now more than ever, leaders have been “buying their growth”. That’s right. They’ve been spending fortunes on marketing, wasting massive amounts of money on hiring more and more salespeople, and writing big checks for social media and web presence activities. What does that mean? They’re basically eating their profits. If you are a farmer, you know that’s called “eating your seed corn” (your future plants). This is what you must learn to move away from: 

The great mistake: Spending money to make money.

It’s important to know that making too little profit is another way of saying you have almost no margin for error or the line between success and failure is too narrow. In other words, when you’re “buying business growth” ANY catastrophe, big or small, could wipe out the little profits you’re making and put your whole company at risk. 

And this is where and why tens of thousands of businesses have been or are going to be crushed by a few smarter and shrewder competitors. Accelerated learning is allowing your competitor to master and apply this core business success principle better and faster. What is this powerful principle that can give you an extreme competitive advantage, even if your product or service isn’t superior?  

HOW TO MAKE MONEY – WITHOUT SPENDING MONEY. 

By making money – big money – I mean scaling sales, generating revenue, and producing huge profits, all without spending another dollar on marketing, hiring another salesperson, or wasting another hour on social media. 

What is the result of the power of making money without spending money? 

As a CFO client stated one time after I presented a “no-cost growth” blue-print and methodology to his executive team.  “This means greater cash flow! Huge amounts of cash on hand! A nice pool of working capital! And more importantly, enough cash to get through any long-term crisis. Our number one challenge is cash flow, and this helps solve the problem – the right way,” He beamed with a smile. 

WHAT’S AN EXAMPLE OF MAKING MONEY WITHOUT SPENDING MONEY – OR MORE FROM LESS? 

• Imagine if your company tripled the number of high quality leads it generates while spending only one-third of your current marketing budget. (Marketing people, don’t freak out – we will spend your whole budget and generate ten times the leads – okay?). 
• Imagine the sales team generating ten times the amount of new sales – without adding another sales headcount.
• Imagine accelerating prospects into clients two to three times faster. 
  • That in itself doubles or triples your sales force – and you’ve not spent another dollar on hires or expenses.
• Imagine doubling or tripling your sales conversion rates. 
  • That also doubles and triples your sales force without hiring another headcount or burning two to three times the eight categories of sales costs. 

Would you like that for your company? The number one challenge for entrepreneurs, new companies and new products has always been cash flow. Now the number one problem for even mature companies is how to make and save money. Remember this: 

A cash-rich – cash-producing – company is the most powerful

antidote to the market-force poisons today.

HOW DO YOU LEARN THESE “NO-COST GROWTH” PRINCIPLES AND APPLY THEM TO ENJOY THESE AMAZING RESULTS? 

• First, you must mentally decide if you want to survive or thrive right now (the majority of leaders/entrepreneurs are just trying to get through these times – falsely believing things will get better – don’t be like them.)
• Second, you must understand that you’ll need to redesign your company and culture to think and reward acting in a “more from less” way that doesn’t destroy morale or abuse employee and vendor relationships
• Third, you must have a dedicated team in place focusing on implementing the principles of “no-cost growth”
• Fourth, you must throw out most of what you’ve been taught about how to start, run, and grow a business – it doesn’t work anymore as most paradigms are last-century thinking of “more from more”. More spending on anything should get more of something, right? Wrong. 
• Fifth, this is not a marketing and sales problem. Your executive team must start at the beginning with the genesis of your business reframing the fundamental marketplace problem (FMP) 
• Sixth, you and your team must constantly work on learning, mastering, and implementing greater proficiencies of the principles of making money without spending money

WHERE TO GO TO LEARN HOW TO “MAKE MONEY WITHOUT SPENDING MONEY”

Times are tough – sorry to be over cliched. However, you can accept your fate and be left behind, or you can learn how to do things differently – and smarter. Every chapter of the book Entrepreneur to Millionaire: How to Build a Highly Profitable Fast-Growth Company and Become Embarrassingly Rich Doing It, is filled with the phases, concepts, and principles to achieve no-cost growth, more from less.  Its whole premise is accelerated learning to create an explosive growth company using the resources you already have. It’s a proven roadmap to optimize business success even in the worst of times. 

ACTION AND URGENCY

Here is what several of our clients have done:

1. Create a vision of success – tripling sales, revenue, or profits – without spending or hiring more
2. Organize an E2M (Entrepreneur To Millionaire) team; 
3. Build a sales/revenue growth plan with specific goals of achievement and cost savings;
4. Create some key milestones and metrics for growth and cost savings;
5. Take the money saved and throw a big party for everyone (one team talked about renting an island and partying for a whole weekend!);
6. Rinse and repeat. 

ANNOUNCING NEW PROGRAMS

Before you join or renew your executive monthly small group, ask about our new E2M™ SWAG 12 month-program.  During the year its 12 half day mastery sessions (one each month) led by Kent Billingsley, then 48 accelerated progress sessions, with six levels of support, learning, and accountability.  Its more powerful and different from every small group in America because it’s totally focused on making money without spending money AND your results are 100% money back guaranteed! No other small group program is as robust or produces guaranteed results.  Contact [email protected]

P.S.  A business should be fun! A fun business is one that makes enough money to not be stressed out or worried about every crisis. Is your company fun or fearful? Let us help you make it the former. Contact us at [email protected] for accelerated, no-cost, growth support. 

ACCELERATING REVENUE GROWTH AND BUSINESS SUCCESS WEBINAR SERIES

Register today

Calling all CEOs/Entrepreneurs/Business Owners who want more sales/revenue/profits, but don’t want to spend more on marketing, wasting hours on social media, or hiring more sales people to get it.

Each month Revenue Growth® Architect, Published Author, and International Business Transformation Expert, Kent Billingsley will unpack the principles in a chapter from the popular book Entrepreneur to Millionaire: How to Build a Highly Profitable, Fast-Growth Company.

TOPIC: APRIL 25, MONDAY WEBINAR – TURNING PROBLEMS INTO PROFITS HOW TO TURN FMPS – MARKETPLACE PROBLEMS INTO RIDICULOUS PROFITS ACCELERATING BUSINESS SUCCESS WEBINAR SERIES CONTINUES

This month Kent will share with you and your team another “layer” to accelerate business success – how to link an FMP to a unique and potent model – Business Modeling Chapter 3. An FMP is an opportunity, but your “unique” business model that will make you rich. Watch, listen, learn and apply to get on the faster roadmap to creating business wealth and making you and your employees more money.

What you will learn:

• The core concept of business modeling – the four essential parts you must know
• How business modeling has radically changed – and why you must care
• Examples of how business models were created to solve past and present FMPs
• Example of linking an FMP to a unique but non-traditional business model that makes money but has no direct sales (hmm?)
• What you can, must, and do immediately in your business regarding FMP/Business Modeling

REGISTER TODAY

AUTHOR BACKGROUND

Kent Billingsley is the founder and president of the Revenue Growth® Company, LLC (TRGC). He is a published author, international keynote speaker, and business transformation expert. He has become America’s Revenue Growth® Architect by helping thousands of entrepreneurs and CEOs (representing over a million employees) generate several billion in new sales, as well as tens of billions in new revenue and profits for large corporations. He has personally designed, built, transformed, and turbocharged several thousand organizations in 36 countries. Over the last 20 years, his proprietary content and trademarked programs have helped thousands of entrepreneurs and employees become millionaires and multimillionaires by “creating wealth” inside their companies. He can be reached at [email protected].