One of the reasons for doing so is that it keeps me focussed on where my business is and what are the things I should be concentrating on.
As a business owner I am sure you go through stages where you are not sure what you should be doing next.
Yeah there are lots of things we can do…
…But then there are the things we should do.
Michael puts companies into 4 distinct stages.
Infancy, Childhood, Adolescense and Adulthood.
He bases this on turnover (Or number of employees).
In the Infancy stage (0 to $1million) your main aim is to figure out how to sell and learn how to do it consistently.
Steve Blank (Lean Canvas) says it nicely.
“An entrepreneur’s first job is to create a scalable business model” (or words to that effect).
So figuring out how to sell is only the first part of the equation.
To really build your business and take it to the Michaels “Child Hood” stage ($1million to 50 million).
You are going to have to concentrate on a number of important things.
- Leads
- Conversion
- Average Order Value
- Average Life Time Value of your customer
- Customer Avatar
- Sales process
- Costs
If you don’t see sales, Turnover and profit in that list, that’s purely because they are a bi-product of the list.
Read my “How to double your turnover in 90 days or less” for more information.
So next time you are wondering what you should be doing…
Pick up a copy of Ready, Fire, Aim: Zero to $100 Million in No Time Flat (Agora Series)
Thanks
Malcolm
