11/3/2021 Tip: OA #2: Systems | Growthink

11/3/2021 Tip: OA #2: Systems

Today’s Quote

“No individual may have great power without availing himself of the ‘Mastermind’ ”
~ Napoleon Hill

 

Today’s Tip

This week I’m discussing the “organizational assets” (OAs) you must build to give your company the best chance of long-term success.

Today’s OA is systems.

Most franchise organizations (e.g., Dunkin Donuts, McDonalds) have made significant investments in systems such as systems to serve customers, produce products, handle customer complaints, etc. 

These systems make it easier and less expensive to hire and train employees and better service customers, making it harder for others to compete against them. 

Likewise, I know many companies who have built customized software systems that allow them to perform faster, cheaper, and more consistently than their competitors.

So, please think about this today: can you build new systems to make your company more effective and efficient?

 

Today’s Resource

How to Build a $10 Million+ Company

What’s the difference between successful multi-millionaire entrepreneurs and the typical small business owner just struggling to get by?

Well, there are a LOT of differences, actually…

But I’ve summarized the main differences on this page:

How to Build a $10 Million+ Company <—- 

The really interesting part is that you don’t have to work yourself to death to grow a wildly successful, eight-figure business…

In fact, when you follow this formula, you can make much more by working less…

How to Build a $10 Million+ Company <—- 

 

Trivia

Today’s Question: Why are transaction costs important?

Previous Question: What company has the most seven-figure income earners?

Previous Answer: Google.

When Google went public in 2004, it had over 900 millionaire employees. [However, it’s important to note that many of these employees have since left and started other companies. And few Google employees earn 7-figure incomes annually.]
 

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