4/20/2021 Tip: Systems That Grow Your Business | Growthink

4/20/2021 Tip: Systems That Grow Your Business

Today’s Quote

“I’ve got a theory that if you give 100 percent all of the time, somehow things will work out in the end.”
~ Larry Bird

 

Today’s Tip

This week, as you know, I’m giving you examples of business assets you can build to dominate your competition.

Today’s asset is Systems.

Most franchise organizations (e.g., Subway, McDonalds, etc.) have made significant investments in systems in areas such as taking orders, producing products, handling customer complaints, etc. 

These systems make it easier and less expensive to hire and train employees and better service customers. This makes 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.

What systems can you build at your company?

 

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: The average man, woman, and child in the U.S. drinks an average of how many Coca-Cola soft drink products per year? Closer to 3, 30, 130, or 300?

Previous Question: What was toy company Mattel’s first product?

Answer:  The first product that toy company Mattel came out with was picture frames.  

Mattel launched in 1945. Ruth and Elliot Handler and Harold “Matt” Matson started the company out of a garage workshop in Southern California. The first Mattel products were picture frames, but Elliot soon developed a side business in dollhouse furniture made from picture frame scraps. Due to the success of the doll furniture, the company’s emphasis was changed to toys.

Mattel is another example of a company significantly changing its business after launching. The key is to get your business launched, and then listen to your customers and what’s working.
 

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