You may find that like most entrepreneurs, you’re getting stuck in the weeds of your business instead of taking a big step back and thinking about strategy.
In today’s episode, Roland shares the things that he and his partners do to grow their 26 businesses. This episode will give you a slew of ideas to help you find your next growth (and end-game) strategy, no matter which stage of the business lifecycle.
“Just so you know, this stuff only works among every business you can imagine”. Roland Frasier.
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The 4’ Growth Stages’ Of Business The Business Life Cycle.
Take a listen as Roland explains the first four of six stages, what they focus on in each, and the strategies they implement that you can also use.
Three Major Concepts To Focus On In These Growth Phases
- Building Revenues
- Building Profits
- Building Value.
What does your business need?
Plus, Listen For,
• Why Roland and his partner ALWAYS build their businesses with an Exit in mind.
“We’re always thinking about how we will ultimately exit the business because 98% of businesses don’t pass through multi-generation. So the best thing you can do is build it up to a lot of value and then sell it and then do it again.”. Roland Frasier
• The easiest way to get a whole bunch of new customers.
“Buy your competitor. And I’ll talk about how you can do that without paying anything for it. By your suppliers, buy your clients, buy out your partners, take cost centers, and turn them into profit centers.” Roland Frasier
• A trap many E-Commerce companies find themselves in, and how to get out and beat competitors.
“It’s hard to grow an E-comm business because you sell the stuff you’ve got, and then you need to buy more media, and then you need to buy more of the stuff that you had before. But now you need more, because you’re buying more media, and you need more people to fulfill it. Right? So until you sell that business, it’s tough to take any significant money out of it! But, if you add a digital product to that, what’s the margin on a digital product? It’s 100%. So if you can add some digital products to the physical products you’ve got, that’s a fantastic way for you to fight margin compression.” Roland Frasier
And so much more!
“So if you just think about these things in your business, you really can grow a business fast. Think on a strategy level and look for the leverage.” Roland Frasier.
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