Got any questions? Ask me on Facebook:
http://www.facebook.com/aleksander.vitkin
Check out my free business training: http://www.vitkin.net
I have had complains from my students that they cannot achieve explosive growth in their companies like other huge international companies. Some people think that it is because the big companies have more money, more resources and as a result more people want to work for them. In fact, it is not that simple.
Giving the lack of money as an excuse is a wrong approach. If you approach an investor with the reason that you need more money, because otherwise you cannot grow your company, most likely, he will reject you. Investors are looking for a lot more than someone saying that he needs money for growth.
Most business owners think that to create explosive growth they must make massive changes. In fact, if you can leverage the force of workload, you can learn how small improvements in certain areas of the company that are lacking can result in geometric growth for the entire company.
Here is what to focus on if you want to build an explosive growth company.
The person who asked me that question was traveling around the world while running his online business. So, what is the difference between his business and businesses with explosive growth?
The explosive growth businesses are based on one location. All the processes in the company are very well outlined. Everything is based on one type of operation, one accountant, one type of operations and so on. They create long term stability and long term growth. They choose business models that have high potential.
If you are running a product based business, you have to do a lot of support stuff and that is not a profitable business model. For example, a company like Amazon did not make any money for 10 years.
On the other hand, service businesses are profitable early on. They have much bigger profit margins compared to product based businesses.
A lot of people buy iPhones these days. The value of the iPhones goes down with the time. Apple makes a profit not only from the product itself, but also from the backend side of things like apple store, itunes and many other things.
That is a real business. They created something that millions of people would like to use and monetize it with very little human interference.
Most small business owners have a few services at the most and overall, things look much more complicated. There are many complains and people are not satisfied with the service or the product.
Build an agency first. Build business models. Learn sales. Learn operations from this business model and then build a different business. That produces these explosive growth businesses.
