I am currently doing a series in which I ask ten of our clients about the one thing that they credit for the phenomenal success they registered. Some of them grew their business to a million dollars in revenue, while others had their business grow to a million dollars in net profit or lots more just last year.
The specific two clients I am talking about today not only surpassed those numbers (a million in revenue and a million in profit), one of them took their business to more than $30 million in revenue and a sizeable portion of that in profit while the other client managed to grow their business to more than $300 million in revenue.
Before we continue, if you would like to learn more about how we can help you to grow your business, go to businessprofitaccelerator.com and fill out the quick form there so that we can see if we are in position to help you. We can’t help everybody, but we will get back to you if we can.
So, how did the two people referred to earlier do it? They are in two different industries with one in the textiles industry while the other is in the nutritional supplements industry.
Focus On The Main Thing
When I asked one about the one thing which was crucial to their journey towards reaching more than $100 million in revenue, he said that staying focused on keeping the main thing the main thing made all the difference.
Pause for a minute and ask yourself, what is that one main thing in your business which you need to keep driving forward? Let’s put this differently, if your business could talk, what is the one thing it would tell you that if you focused on that, your business would grow in all the ways that you want it to?
Our client added that driving that message and education about the main thing of their business so that they remain as the category king in the market helped massively. They went out and educated the market on who they were, what they stood for and they had to teach all this to people.
Related: 10 Alternative Ways to Measure Success
Partnerships Are Key
They were also smart enough to get into partnerships with really smart people who were advocates for the industry. These people were then able to go out there and educate the market on why they needed these products, the problems they solved and how the products were going to benefit them.
Back to your business, if you were to drive one thing forward to your target audience through your message and education to the extent that you became the category king in your industry, what would that do for your business?
3 Attributes of Great Partnerships
We need to realize that world-class partnerships have three things about them.
Reach. First, you have to ensure that the person or entity you want to partner with has REACH. Do they have the ability to reach out into the world? For example, when I was still young, my father did it through infomercials, and you can do it through cable television. Nowadays there are people who do it on YouTube, adverts and lots of other ways.
Relationships. Secondly, the people or entities you partner with need to have relationships. Does your target audience know those people, do they like them and do they trust them?
Even if you got the coolest, wildest person you know to deliver your message, it will not matter if the target audience doesn’t know that person, doesn’t like that person and doesn’t trust that person. Nothing will happen.
So, this business went out and identified somebody that their audience knew, liked and trusted, and most importantly, that person had “stopping power” (when this person was on the screen, people stopped and watched right through to the end).
World class product or service. The third attribute of a great partnership is a world class product or service. Just because you put your heart and soul into making a product doesn’t make that product or service amazing. You have to invest in making that product to be of world class in terms of its quality. You have to add something or do something that hardly anyone else does, or go above and beyond.
For example, our world class attribute is the return on investment (ROI) which our clients obtain after enrolling with us. An example is a client who joined our business accelerator program in 2020 and got 2,986% ROI on her investment of the whole year within the first two months. For us, that’s how we stand out from all others.
We also had another client who invested in 1-on-1 coaching and the business accelerator, in addition to his wife getting coaching from my wife. They got more than 5,000% ROI on their investment with us. We mention this because it is remarkable, and we love this stuff.
Back to partnerships. You need reach, or a platform to get in touch with your target audience/market. You will also need relationships in the form of somebody that your audience knows, likes and trusts. Finally, you need a world class product or service. When you have these, you start to get remarkable results.
How do you apply this to your business?
The question for you is, who would you partner with to allow you to 2x, 5x or 10x your business results this year? Which platform can you use so that you can reach 10-20 times more people than you have ever reached before with your message? And, what could you offer as a world class product or service that would way over-deliver and create a wow experience for all your clients so that they would want to be clients for 12 years not 12 months or less.
If you want help with this, go to businessprofitaccelerator.com, fill out the form and we will see if you can help you to grow your business.
My personal experience with this model
Here is a quick story to wrap up this discussion. I used this model in my very first year when I left to go and do my private coaching practice after working 6 years for my father. In the beginning I was getting one or two clients a month.
But then, I found a partner. She had reach and a deep email list of a very specific group of people in Los Angeles. She had a relationship with those people and some of them knew and trusted me. We built a world class product for them on how to put, successfully, their businesses online. Over a period of eight months, my business partner and I generated over $800,000 in new business, which for me was huge! I mean, I was 24 years old and trying to make it, to succeed in life.
That was a huge jumpstart for me. So, not only have I done this, I have also helped my clients see massive growth in their businesses.
This also trickles back to the question “how did you do this” which I asked my clients. The other client who did $30 million in revenue (yet he was doing just $2 million a few years ago) told me that the secret to growth was great partnerships.
Hopefully, this post will give you a framework of what sorts of partnerships you need, hopefully you can take action on this. I hope this helps you to figure out who you need to partner with to grow your business 10-20 times or more, where you can put your partnership so that you can reach 10-20 or more times the people you currently target for your product or service and lastly what you can offer your market so that each client is wowed beyond measure.
Once again, if you need help along this journey, go to businessprofitaccelerator.com and fill out the quick form. We’d love to help, but since we cannot help everyone, we will reach out to you if we are in position to work with you in figuring out how to transform your business. Share this with someone you know may need it. Talk to you soon!
To Your Success,