7 Figures Identity and Decision making:
This program is about how to scale past 50k per month, but the number one thing you have to realize is that it always takes more than what you expected to achieve a specific goal, so knowing that, I personally always aim a bit higher than I need to.
“Shoot for the moon. Even if you miss, you’ll land among the stars.”
#1. 7 figure goal setting and planning: If you’re looking to add an extra 50k in MRR in the next 90 days, the best thing you can do in order to achieve it is to aim for 100k-500k in MRR to be added.
Why? Because the thinking, decision making process and the action necessary to add 100k or 500k in new Monthly recurring revenue, Makes it UNREASONABLE for you not to add an extra 50k in MRR.
#2. Create a mission & vision for your business bigger than your own needs & desires:
This is the only thing that separates entrepreneurs who achieve unfathomable levels of success and those who spend their time flexing their 1M $ revenue. Business is one of the most complex & draining sport that you can be in, so if you’re only focused on how much money you want to make, what cars you want to drive, the house you want to buy for your parents, etc, it will be hard to compete at the highest level.
By creating a vision and a mission for your agency/company, you and your team will never feel complacent since there is something bigger to be accomplished, a bigger problem to be solved.
Example:
- Apple's corporate mission is “to bring the best personal computing products and support to students, educators, designers, scientists, engineers, businesspersons and consumers in over 140 countries around the world.”
- Apple Inc.'s corporate vision is “to make the best products on earth, and to leave the world better than we found it.”
- Amazon: “Our vision is to be earth's most customer centric company; to build a place where people can come to find and discover anything they might want to buy online.”
#3. PEOPLE: This is probably the most important thing to understand if you want to scale past 7 figs, 8 figs, 9 figures or more in revenue.
Other people ( employees) are the key to your business’s growth, it’s not you.
This online space has confused a lot of people into thinking that a business should be made up of 5 people & 90% profit margins, and this way of thinking is limiting the potential of newer Entrepreneurs jumping into this game.
If you want to grow really big, it will be important to stop focusing on what you need to learn or what you need to do and start asking yourself WHO you need to hire to do the doing and the learning.
The loss in profit from hiring a new superstar team member has an asymmetrical relationship with the potential for growth.
It is possible for you to lose 10k in monthly profit from reinvesting in your team and to automatically add an extra 100k in profit every month from that investment.
If you can understand how powerful finding the right talent and having them part of your mission can be for your business, you’ll never not be able to achieve any desired outcome in your business regardless how audacious that desire may be.
#4. Incentives: Once you have a team, it is important to understand that Incentives are superpowers and that they are the ones that will make your team do what they need to do ( to a certain extent). A good incentive structure will turn your team members into superstars who will go above and beyond in order to make sure your vision & mission gets accomplished. Most people who are still making less than 500k per year are stuck trying to pay their team the lowest amount of money in order to be more profitable, but they forget to understand the importance of having the right incentives. If you don’t incentivize your team properly, you’re doing more harm than good. You’re limiting your Growth.
#5. ATTENTION: This is pretty straightforward, If you don’t get attention, your business won’t last long.
Money follows attention like GC says.
If you’re going 1-2-3-4 weeks without receiving any stripe notifications, it means that you’re not getting enough attention. Nobody knows you so nobody buys from you! Your focus should be on reinvesting as much capital in the business as possible to make sure people know about you & your business.
You should be creating content, your prospects should be able to consume hours of content before being able to do business with you.
You can have the right mission + vision, the right team, the best team and the right incentives but without Attention none of that matters.
GET ATTENTION!!