How To Get Momentum in Business
Nothing great happens in life without first putting in the work to get MOMENTUM. Right – to start the ball rolling. Depending on which path you’re gaining momentum on, dictates whether you’re going to get positive or negative results.
SO OFTEN, PEOPLE WORK JUST FOR THE SAKE OF WORK, and don’t stop long enough to see if that work is bringing them closer to the results they actually want.
That’s why so many people, work for years, and are never satisfied with WHAT they have in life – it’s because they worked on things… that created momentum in the wrong direction.
If they just took a moment, from time to time, to look at where their momentum was pushing them – they would have been able to coarse correct and get FAR FAR more out of their time.
You could argue with me as much as you want on this… in fact, tell me in the comments below this video if you can think of ANYTHING in your life or in your business that’s happened… without you first BUILDING MOMENTUM in that direction.
We’ll get more clear on this and then I’ll show you exactly what we do inside of my companies to analyze if our actions are moving us along the fastest path to get us to our goals… or to hit whatever target we have. This goes for any business, in any economy, in any industry, and it also relates to anything you want to achieve in life.
Gain Momentum in Business
The first example I’ll give you, is for those companies who are focused on growing their REACH, meaning the amount of people that they reach with their message.
REACH = The Amount Of Targeted People That See Your Message
I’m not just talking about building a brand, I’m talking about the most effective way to scale any company, which is Strategically and DRAMATICALLY increasing the number of people who hear your message… who see your products or your company, who visit your store or your website, who walk through your sales funnel, and who eventually purchase from you.
MEANING – if your current marketing is reaching 10,000 people, and out of those you sell 1% of them, that means that for every 10,000 people who see your message, who are targeted prospects of yours, approximately 100 paying customers.
If we were to strategically increase your REACH, meaning that you’re putting your message (that is already converting), in front of 100,000 targeted prospects, and your conversion remains 1% then instead of getting 100 customers, because you were successful in increasing your REACH by 10 fold, the number of people who purchased from you NOW goes from 100 to 1,000 paying customers in the same timeframe.
Now, if that’s your goal for this quarter, then the majority of your focus, and the majority of your actions, need to be aimed at the things that get your message in front of highly targeted prospects in a much greater way than it currently is.
Common Mistake That Kills Progress
However, most companies, spend combine their focus on multiple targets like increasing their REACH, AND increasing their revenue at the same time.
Although some of those actions that increase REVENUE, will also increase your REACH, the mindset of your TEAM, and of your MARKETING team, and of your SALES team, and of your CUSTOMER SUPPORT team, and of YOU as a leader, will never create enough momentum in the business to scale your REACH from 10,000 people to 100,000… or to A MILLION people. Because you will Constantly be trying to balance your time and focus between growing revenue and growing reach.
Now scaling a businesses is nowhere near the simple as this… and you cannot focus just on reach, or just on revenue, or just on retention, or just on ANY one aspect.
However, when I was just starting out, just like most startups, I was doing most things by myself. It was a very slow process… UNTIL I took a step back and looked at our momentum, and we decided to focused a whole quarter on increasing our REACH, and getting as many people into our funnel as possible, and then creating systems to support everything that we just built that increased our reach.
…and THEN focusing our next quarter on increasing our REVENUE, not just from new customers, but also from everybody who’s already inside of my funnel from the previous quarter, and then creating systems to support everything we just built that increased our REVENUE.
…and THEN focusing our NEXT quarter on RETENTION, so everybody who purchased, would become a repeat purchaser in some way. Then, creating systems to support everything we just built that increased our RETENTION.
So each quarter – we were heavily focused AS A TEAM on the same goal, and then on CREATING SYSTEMS TO SUPPORT ALL THAT NEW GROWTH, so those systems maintained our momentum when we shifted focus the following quarter onto the next target.
Gain Momentum in Each Department
So now that my company is significantly larger. We have people in charge of each department, and the success or failure of us (as a team) reaching our targets every year, every quarter, every month, is mostly due to our ability to keep each department focused on the most important actions for them to reach each of their targets, so that EACH DEPARTMENT MAINTAINS MOMENTUM in their own way.
The combination of the momentum in those departments grows the companies REACH, and REVENUE, and RETENTION.
Here’s what you need to remember…
ONE department… losing momentum, slows the ENTIRE company down. When companies decide that they are only going to focus on one target ALL THE TIME, let’s call it revenue, and they train their customer support, and their sales people, and their marketing people, to just focus on revenue, their growth becomes a roller coaster. They have a few GOOD months, and then a STAGNANT month… or a POOR month.
They’re constantly struggling to meet or beat last month’s numbers. Because they lost momentum on increasing their REACH, or increasing their RETENTION.
Whatever you aim your focus at, builds momentum in your life, and in your business … because TO AIM FOCUS IN ONE DIRECTION REQUIRES YOU TO LIMIT FOCUS IN ALL OTHER DIRECTIONS.
Foster a Momentum Culture In Your Business
In my company – the solution we came up with for this is to get RIDICULOUSLY clear on our top goals for the year.
We do that during our annual team meeting where we whiteboard our main targets as well as EVERYTHING we’re going to do throughout that year… to meet or exceed our targets. I’ve posted a BUNCH videos on how we whiteboard everything in our annual meetings.
If you haven’t seen those videos, they’re here on YouTube and also here on the blog.
But momentum in business (or life) doesn’t come from just KNOWING what your targets are.
MOMENTUM COMES FROM TAKING THE RIGHT ACTIONS ON A CONSISTENT BASIS
So, after we whiteboard everything in our annual meeting, we list all the actions necessary to accomplish everything on our game plan.
Then before we leave that meeting, EVERY SINGLE action is taken off the board and put onto someone’s task sheet for the year, then every day… each person on our team is in charge of choosing the top 5 tasks from their task sheet and working on them.
So everyone always knows that everyone else on our team is working towards the same big targets every day.
If you want to learn more about how we run our annual meetings and how we break everything down into daily actions – so our teams are always in momentum – towards our company targets, check out the articles here:
MEET CHRIS GUERRIERO
Chris is an entrepreneur, investor, bestselling author, and advisor to a handful of high growth companies.
He has built four 8-figure companies, developed winning leadership teams in six industries, and designed business systems that predictably grow multi-million dollar brands.
He’s been featured in financial periodicals such as: Success, Inc, Bloomberg TV, and in Entrepreneur as a top entrepreneurs of the time.
In addition to his own companies, Chris is also an advisor, investor and equity holder in companies across a variety of industries, including health, medical, digital advertising, legal and real estate.