As an entrepreneur you can eliminate at least half the stress and burden you may be carrying right now IF you have the right business growth strategy. What I’m about to show you should take some of the bricks off your back and give you the freedom to really take off in your business.
Let me take you on a journey. Let’s get into a virtual hot air balloon and look at your business landscape from a higher perspective. I’m about to introduce you to a business growth strategy that is profound in its simplicity and implications… I call it “The Entrepreneur’s Path.”
I formulated this model from my experience working with thousands of entrepreneurs from all over the world. Some struggled to make their business work while others took off easily. Why was that?
The answer was simple – those who took off had more experience under their belt. That was all. They know their market, their brand, and the offers that would sell. I looked further and noticed this knowledge didn’t happen overnight. And it didn’t happen with them thinking about it a lot.
For example, virtually all the successful entrepreneurs started their business with simple word of mouth marketing and rarely ever with advertising or fancy marketing campaigns. Most actually never even started with a website.
Things might be different for them now but back when they started, they sold face-to-face (or phone-to-phone). They built relationships – all good old-fashioned stuff.
Look for yourself and see if this isn’t true. Think of a couple successful people you know right now. Go way back to their very beginning. How did they start? Wasn’t it essentially relationship building and referrals? No fancy website, no fine-tuned tagline, no “secret” magic bullet tactic. This got me thinking about what makes a solid, true-to-life business growth strategy.
When I analyzed the actual entrepreneur’s path of successful service professionals I saw a pattern – they traveled in clearly defined business growth stages. Let’s look at these…
Business Growth Strategy Stage 1: Get Direction
This is where you are finding your way. What’s your business going to be? Who are you going to serve? What do you offer them?
This can be a frustrating stage if you’re impatient like me. I spent four years in this stage trying all sorts of businesses and niches. I threw a lot of spaghetti on the wall to see what would stick. I eventually found it, but it happened almost by accident.
If you’re in this stage, go easy on yourself! It takes time to find your niche and your way. BUT, let me give you a BIG word of caution if you’re in the “Get Direction” stage…
The only way to successfully get past this stage is to interact with and work with real people. Focus your energy on getting out from behind your computer and start meeting your potential ideal clients face-to-face.
The BIG mistake people make here is they hide behind their computer spinning their wheels trying to develop a website, putting around on social media, or trying to jump to info product creation. These are all good things… but in their own time.
You get past Stage 1 by taking action… with real people! This brings us to…
Business Growth Strategy Stage 2: Get Clients
Your goal here is to get first-hand experience working with clients. Most important of all is PRACTICING with LOTS of people how to sell what you offer. Your goal in stage 2 is to get good at communicating the value you bring with your service.
There’s no short cut here. You get good by practice. The more you hide out thinking in your head what you do, what’s your niche, who’s your ideal client… the longer it’ll take you to blast past this stage.
If you want a solid business growth strategy, get out there and have real conversations with who you THINK might be your ideal client. Talk about what you THINK might be your niche. It doesn’t have to be perfect. It shouldn’t be! You’ll figure this all out by engaging with people. Looking in their eyes, hearing the tone in their voice you’ll see first-hand what lands and what doesn’t.
You’ll be shocked… within a short amount of time you’ll know exactly who your market is, what they will actually buy (vs. what you think they should buy), and much more. In fact, you’ll be well on your way past a 6-figure income by simply providing a valuable service to a hungry market.
THEN… when you know your market well enough from first hand experience, you’re ready for…
Business Growth Strategy Stage 3: Get Leverage
Your goal here is to take the momentum you started with services and expand on it even further. Because you know what your market wants you can offer it in different formats and business models. For example, group programs, information products, retreats, online courses, live events, and much more.
And now you can scale up your business and efforts. Maybe you can expand the service you currently offer by bringing on employees or contractors to do the same. In other words, you build on the brand you’ve built to scale up your operations. And/or you leverage your time more and more by offering low-ticket items, which are a stepping stone to your high-ticket services.
Now, this Entrepreneur’s Path isn’t set in stone, but if you analyze people who have build a big following or are speaking at the big events, this is what they did. They were an “overnight success”… that was 10 years in the making.
Also, don’t think of these three stages as ridged steps – they unfold naturally like a wave. They blend together. To have a business growth strategy that moves you forward faster, own up to which stage you’re in now. Focus 80% of your energy to fully engage with that stage. Master it. And you’ll naturally be propelled to the next stage.
It’s when you try to skip a stage that you run into feeling overwhelmed and frustrated with your results. Take stock of where you’ve been and honor the valuable experiences you’ve gained so far. Then own where you are now and choose business and marketing strategies that will produce the best results for where you are right now.
What’s Your Business Growth Strategy? Share Your Ideas Below
Leave your comments and questions below. How does realizing which stage your in right now help you focus your efforts? What simple actions can you do this week to fully engage with the stage you’re in right now?
I think realizing and really coming back to those core things, person to person contact, getting a results based service first, and building up that contact list with people who know, like and want what you have to offer – those are the foundations.
I feel the major challenge for myself has been you get to the level you are happy with in one regard, but, you do not have all the other things in place to support it.
All the other stuff, the flash website, the leveraged business model, the fine tweaks and subtle tunings coming AFTER the basic results and foundation are in place.
Naturally people gravitate toward tweaking about, but staying there solely can be overwhelming.
I was feeling quite lost, and infact quite dis-heartened before reading this. I suppose I have been trying to leap steps, thinking about creating an overall product system and website which would concord with that. Just how much of your conscious or unconscious energy gets directed towards that when you intend it?
So now I am feeling released and relieved.
Whilst some parts of my business picture are well developed and at the right levels, I have been missing out a focus on key steps.
It does help me focus on my efforts because I know where I am. I need to complete certain things, very core things, and I know that getting those things done doesnt mean its even all going to add up.
Actions I can engage with are planning to go to events to meet people, find where my target market hang out in real time. Also I need to be thinking about developing my primary service foundations more completely in relation to those people. Its a very simple A-B. Its about getting out of your mind and into your body.
Its going backwards in time, in order to go forwards.
Another awesome post!
I love the hot air balloon ride to see a higher perspective!
This really does help me breathe a sigh of relief.
I fall into the category of zero experience…and didn’t even have the language or terms down (I didn’t know what ‘marketing’ was or that I was naturally good at it as it turns out- I love to share and connect my gifts with people!)
I am exactly at the stage you speak of- getting out behind the computer and meeting my people! I crave that interaction, and desire to learn more how to deliver the value I offer to them. I am also excited about creating leverage as I can see it will happen organically once this stage is fully honored.
Thank you so much for being so REAL.
Hi Shakaya – I’m glad to hear this landed with you. Yes, the more business owners hide out the harder the path is. The more we get feedback, the faster we can fine-tune our message and offers to match the market. Keep up the amazing work you do! 🙂
Hey James,
I REALLY enjoy your latest posts! All high-quality advices.
I found that getting advices from people who are successful doing what you want to do or in business in general is one of the best strategies to level up one’s business. When it comes from such persons, it really puts what you do in perspective and as you did, it allows you to see a common path which is basically all about taking action, accepting to experience failure, self-analysis and vision.
Thank you for sharing “The Entrepreneur’s Path” with us!
I look forward to your next post,
– Patty
I love the teaching, thank you! It feels like a relief. I’ve been listening to you and this material before but if feels like it hits the point every time I hear it. I guess this is because you describe the stages so vividly.
I am in the stage of getting clients and I love it! I am slowly overcoming my rocks on the way to own my value and to trust the value I offer to my clients.
I feel that balancing the challenge of moving forward and not pushing what’s not mature yet, is crucial.
I have almost gave up in my practice ….and then I met my mentor. Now I make my living better and better and I’m so happy. So are my clients! Thanks for teaching us (I’m from Europe and this is new here).
HI Shanti – I love hearing this! And yes, every stage has it’s own challenges to overcome. The “Get Clients” stage (stage 2) can be messy because you’re putting all these new systems into place as you grow your business. Sometimes people think it should be cleaner than it is… but I’ve never seen it be clean. It’s always about getting your hands in the clay and slowly shaping the bowl. That can’t happen without getting your hands into the clay.
Thanks James, I’ve always enjoyed your teaching even before we did my discovery session with you about two years ago.
I’m definitely at that stage where want more one-on-one clients. I’ve had a little success with information products, but now I’m focusing my energy almost exclusively on teaching live where I can, and attracting private clients.
I’ve written my warm referral letter, booked a speaking gig in LA for next month. Now I’m just working at it every way I can to attract more clients. Fortunately I have two clients currently that I just love and I soooo want to attract more them, creative types who desire to create a business based on their passions.
Thanks again James!
PS: My goal is to grow my business to the place where I can do a VIP Day with you in 2013!
Hi Rodney – This is great! You’re doing all the right things. Keep it up!
Hi James,
I’m right with you on the Entrepreneur’s Path! My experience has certainly been similar to this.
My big challenge is: I don’t get much personal satisfaction from offering what a lot of people whom I talk to want! I’m weaving between stages 1 and 2 on the path, as an executive / business coach and trainer, with a strong leaning towards the spiritual and systemic in work and life. I find that most people I meet in the corporate world are more interested in the rational and possibly emotional, so the kind of programme that they are currently interested in buying could be summarised as “how can I get more out of my people / business quickly and without investment (money / time / energy)?” I’m having a number of conversations around emergence and changing paradigms of thinking and behaviour, but not with those who are in the position to buy (and therefore stimulate change). It’s a pretty frustrating place to be, because for the most part, I can sell things I no longer want to do – around communication, negotiation, motivation etc. I am also beginning to attract a different kind of person (talking of emergence) but it’s slow, and certainly not lucrative!
Do you or any of your connections have any thoughts or tips to share on riding out this particular wave? I’d love to hear them!
Thanks,
Asha
Hello Asha – Thank you for sharing your situation. It’s not uncommon to not be 100% aligned with what you offer and/or what the market is asking for. In my experience with coaching clients since 2005, I’ve seen them have success by shifting/refining who their ideal client is. Maybe this is something for you to consider. Since you’re already having success and results, you’re in a good place to start tweaking who exactly you want to attract.
The thing to keep in mind is you still have to offer something the market wants on the front end (for example “get more out of my people”, etc.) Because people buy outcomes. If you tried to bypass the initial hook and get to the deeper stuff, it’s harder to sell because it’s not a clear, tangible outcome. So the solution may be to do the same (or close to the same) but to people who are more open to the deeper work. They are still initially attracted to the outcome you offer, but they are the type of person who CAN go deeper. See what I mean?
Thanks for the “big” picture James. Even though I bought an existing gym business with clients, five years ago, I have found it challenging to retain them and to identify what the niche market is. It never works really well when you try to reach everyone…you end up reaching no one. I need to get outside of my gym (waiting for them to come to me) and interact with my ideal client more. We have a whole community of mature adults who need my services and facility here! Just gotta figure out exactly what they want and how to deliver it. Thanks for the tips!
HI Sandra – you’re right… both in terms of fine-tuning your niche and getting out into the community more. You’ll be surprised when you do both that you’ll get (I predict) over 70% of your business from word of mouth. When people can tell their friends, “Do this because it’s _______” and that _______ is super easy to communicate and has a clear outcome associated to it, then referrals kick into high gear. I’ve seen this with a number of my clients. They started getting 5-figure months within weeks of focusing on the right niche. And in every case it was just a 15 degree shift in either what they offered and/or who they targeted.
After decades working in government and the nonprofit world, I am now launching a new consulting business, and in the early days (not very long ago) successfully secured clients by word of mouth without a business card and without a web site. I’m also finding that many of my clients now are people I worked with at my first job out of college in the ’80’s and ’90’s. We are so thrilled to reconnect and are having a blast working with each other again. It is nice to see that my emerging business fits a known pattern so eloquently laid out by James Roche.
James,
Another great post! I love the refreshing new website, renewed energy and even more authentic content that you’re sharing. Keep it up and I look forward to hearing more. 😉
Love,
Karla