How to Grow Your 7-Figure Business — Starting With You! ‘What Got You Here Won’t Get You There’
H ere at Elite Entrepreneurs, we are constantly sharing Marshall Goldsmith’s quote when talking to our seven-figure business owner audience: “What got you here won’t get you there.” Are you seeing any indicators that the sales, marketing, and operations that got you to $1 million-plus in revenue are insuf- ficient to carry you further? This often shows up in the seven-fig- ure businesses we work with. Hitting the $1 million milestone can be exhilarating for the owner, but it is often wrought with chaos, frustrating results, and feelings of being overwhelmed. In last month’s issue, we talked about the Stages of Small Busi- ness (see image) and how a new thing happens when you hit seven figures. A shift in mindset, skill set, and tool set is necessary to move to the next stage. This is the point where many entrepreneurs choose to exit. They carry their
companies as far as they can and then, recognizing a deficiency in their ability to take it further, will choose to sell. If you’re wrestling with that de- cision and choose to keep going, that’s amazing! You deserve to see your business move forward with you at the helm. But, it takes a big commitment from you — a com- mitment to work on yourself. Lamar Tyler embraced the idea of growth and change whole- heartedly as he grew his business, Traffic Sales and Profit (TSP) — a company dedicated to provid- ing the systems and strategies to help online business owners generate profit — well beyond the $1 million mark. He and his wife, Ronnie, were Small Business IKON Award finalists several years ago. “Once you hit these revenue goals for your business, it’s easy to see the path and recreate it,” Lamar shares. “But that same path isn’t going to be what carries you
further. We always have to stay connected to people, groups, orga- nizations, and conferences that are going to educate us on what the next level is going to be like.” One of the core values at TSP is to support and promote the per- sonal development of their team. Learning from those who have been where he was trying to go was the main ingredient to his se- cret sauce. The Tylers learned our Elite Business Growth Method and joined our Elite Momentum com- munity as part of their growth. Leaders of growing businesses, like Lamar, need to shift gears and consciously step out of the individual contributor mindset and refocus their energy on helping others to succeed and grow. Clear training on what is expected of a leader coupled with a mentor, coach, or other educational op- portunities and resources will help the leader deliver much greater
results through their team. Attracting people who will
support and grow your business, Lamar discovered, is a two-way street. What he gained in value from education was something he wanted to pass on to his team. Whether it be the company’s leadership or the high performers brought into the fold, “If you put a cap on what you are learning, you put a cap on what you can earn.” It was Lamar’s investment in his team’s personal growth that made all the difference, enabling their business to grow to the next stage.
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Lamar and Ronnie Tyler of Traffic Sales and Profit
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