10X Business Letter
July 25th, 2013
San Diego, Ca
Partly Cloudy 71 Degrees
Dear 10X Business Builder,
Last night I had the privilege of having dinner with an old friend and client. She is a very successful Dentist and was out here giving a lecture [of course] and filming a commercial [obvi].
She invited us and some of her other San Diego friends to dinner. It was a nice evening filled with interesting conversation.
One particular conversation stuck out for me.
The Doc had invited a dental hygienist friend to join us. During dinner, she was asked if she liked her job, and she replied, "I LOVE my job, the most frustrating part is the doctors." Of course with a doctor at the table the doc couldn't resist asking why?
She went on to explain that one her biggest frustrations is the how they lacked systems and processes. The dentist is only concerned with the patients that he treats. He puts little or no time into the rest of the business: customer experience, marketing, employ training, systems and processes.
It's a story I have heard many times before. And I see this EXACT problem in many businesses. The lack of systems and processes stunts growth. It's a vital part of getting to the "next level".
The challenge with this particular situation is they are moderately successful. There isn't a gaping whole or enough pain for them to change now. They simply sit stagnate in mediocrity.
They don't understand that what got them to where they are now, WILL NOT get them to the next level.
This dentist has what I call the 'terrier' disease.
He is focused on one thing only. But being a one trick pony is a silent killer to the potential of a business.
I first noticed this when I was working for the Anthony Robbins Organization. Like many people, before I started working for him, I assumed he so successful because of his ability to present/speak well. Most people assume that Tony is so successful because he is such a fantastic speaker. And I would love to make that case. Heck, that's what we teach (how to be an amazing presenter)…
But the truth is, that's only part of the reason he is so successful.
His speaking is really just the front end of his business. What allows him to be so successful is all the systems, leverage and synergy that he has built into his business.
He does this by:
– speaking to 1000's of people at once
– creating digital products that integrate well with each other
– he has a team of speakers traveling the globe sharing his message on his behalf: They are selling into the seminars and building the company database with new prospects.
– he has a team of sales personnel – selling coaching and products
– he has a team of coaches – coaching on his behalf
We call this a 10X Business.
The idea behind a 10X Business is that with care planning and deliberate actions, you can amplify the result of the efforts made in your business. One ounce of effort returns 10 times the result.
If Tony hadn't done certain things that 10X'ed his business and he just went out there and delivered his message to groups of people he would find success, but he would not be ANYWHERE near as successful as he is today.
It's not about just doing one thing (like the dentist in this example). It's about a series of individual "things" that when done in unison create leverage and momentum.
Those "things" are different for every business.
The trick is finding out what those are for your business.
Next week, I will show you how you can find those for your business.
Loving living giving large,
Jeff Paro, Editor
10X Business Letter
PS- The Influencing From the Front event being held in Aug 2013 is sold out and the Nov 2013 event is already over 50% sold. So if you are curious to know what everyone is raving about, secure your seat today (and enjoy super early bird pricing)