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Growth Stacking Show with Dan Martell

Dan Martell is a Canadian serial entrepreneur and angel investor. Subscribe now and learn his best strategies to build and scale successful products and businesses. Now hit that button and start the show. It's FREE.
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Now displaying: February, 2017
Feb 20, 2017

I’m the guy that gets the call when a business is in trouble...

... when a business is on the verge of bankruptcy.

Friends call me.

Banks call me.

If I’m lucky, the entrepreneur calls me before it’s too late.

The truth is, it’s always challenging for me to see another entrepreneur failing...

... especially when they have major debt owed, personal guarantees and their biggest dreams hanging in the air as collateral.

It’s even more heartbreaking when kids are involved.

It crushes me inside.

That being said, the game plan to turn things around is ALWAYS the same.

The #1 thing it takes is uncomfortable discussions, honest assessments and quick decisions.

Hard? You have no idea.

However, staring at the light waiting for the train to hit you isn’t the right move either.

Recently I was able to take a company losing tens of thousands each month, to profitable in 14 days.

In this week's video I provide a step by step process for getting you off the tracks, and pulling a sharp 180 regardless of the challenges you're facing.

When it comes to the steps and process they go like this:

1. Get clarity from the numbers (scary as hell, but necessary)
2. Test the business model
3. Cut deep but not the bone
4. Focus on the customers
5. Write the rules
6. Build it back up

The truth is, this strategy is something most companies should use to evaluate their real success.

Too many times I’ve had founders tell me their business is doing “GREAT” only to ask a few questions and have them realize they’re way below the market norm.

Stop being romantic about your business and get serious about how you’re measuring your progress.

Leave a comment below with your business, industry and top question you have about your business model or challenges and I’ll be sure to provide some insights to help you evaluate your progress!

--

Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. (Get the free 3 videos to grow your business here.) He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter@danmartell for tweets that are actually awesome.

Are you an entrepreneur? Get free weekly video training here:
http://www.danmartell.com/newsletter

+ Join me on FB: http://FB.com/DanMartell
+ Connect w/ me live: http://periscope.tv/danmartell
+ Tweet me: http://twitter.com/danmartell
+ Instagram awesomeness: http://instagram.com/danmartell

Feb 6, 2017

Yesterday I was talking with a founder who’s got a ~$6M a year business that has been flat for the past 4 years.

It’s funny because 5 years ago they jumped from $3M to $5.5M, but since then they’ve gone sideways and have been struggling to figure out what to do next.

This is what I told him...

Your business should be growing in 3 cycles...

... and knowing where you’re at now, can cause you to hold back when you should be leaning in and pushing.

It’s probably what happened when he almost doubled in a single 12 month period.

My guess is that he focused on the first phase that year, then didn’t do the second, and that caused him to get gun shy.

More on that in a bit...

… but first, I shot this video to help you understand the 3 cycles and what specific steps you need to take to powerfully (and predictably) ascend from one to the next.

If you want to take action and jump in with two feet, here are the cycles:

1. Going after sales - focusing on top line revenue
2. Building cost controls - improving your gross profit
3. Improving market reach - getting your message into the market

You just keep cycling through each one and if you're smart, you’ll be using quarterly themes so you can get the whole company behind it!

The friend I mentioned above decided he needed to push hard on sales, build a team and ensure they were well managed.

It’s funny how understanding the “big picture” and the context for where you’re at can light a fire under your butt to improve!

Clarity IS power.

Be sure to leave me a comment letting me know what phase you need to spend some time on. Maybe your cashflow is hurting, so cost-controls need to be implemented? Let me know.

Keep up the good fight!

--

Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. (Get the free 3 videos to grow your business here.) He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter@danmartell for tweets that are actually awesome.

Are you an entrepreneur? Get free weekly video training here:
http://www.danmartell.com/newsletter

+ Join me on FB: http://FB.com/DanMartell
+ Connect w/ me live: http://periscope.tv/danmartell
+ Tweet me: http://twitter.com/danmartell
+ Instagram awesomeness: http://instagram.com/danmartell

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