10X Growth Requires A Cut With The Past
Creating and living a 10x vision is like moving across the country from one house to another: you are limited in how much you can bring with you. Knowing this limitation, you are forced you to decide which of your possessions will make the trip and which of them will stay behind.
Likewise, if you want to achieve monumental (read: 10x) growth in your business, you will have to make a cut with the past and will be forced to leave some activities, methods, and thinking patterns behind.
Where to start when scaling up your business
But where to start?
Let the four step business coaching that we have developed at the Ultimate Boardroom be your guide:
- The Why – Your vision and your role as leader. Begin with yourself by finding your genius zone and by getting a clear vision of your role as a leader.
- The Who – Attracting the right people and putting them in the right job. After clarifying your role as leader, turn your attention to building a team. Likely, some folks that have been working with you up to now simply won’t form a part of your new vision, and they will either leave on their own or will be invited to do so.
- The What – Streamlining your business to focus on the most profitable method. Once you have the right people in place, you will need to identify the most profitable part of your business and cut out everything else. Yes, that might mean cutting product lines and losing clients, but it is all part of the 10x growth process.
- The How – Implementing systems and structured rhythms. These are the actual tools and methods that our business coaching program will give you to help you keep up the momentum and to measure your progress.
Keep it simple
Your 10x vision shouldn’t be complicated – if anything, it’s meant to be a simple road map to get you from “Point A” to “Point B”; from where you are now to where you want to be a few years from now.
But don’t confuse “simple” with “easy”, because your 10x vision will require standing power. You’ve got to step into it and be the beacon for others in your company. Your grand vision has to be so precious to you that it resides at your very core. After all, if you are not enthusiastic about your vision, can you realistically expect your employees to feel that way?
To tap into a place of passion, think back and try to remember why you branched out on your own in the first place. Why were you willing to take on the risks and responsibilities of being an entrepreneur? And are you still motivated by those same reasons, or have you gone down so many rabbit holes that you have lost your way?
If so, then it’s high time to take a step back and ask yourself: “What really is my vision?” This may require innovation and honest introspection on your part, but it is the only way to achieve the growth you are looking for.
You need to be like a race horse: light and not loaded down like a mule. You need to keep the main thing the main thing.
During a meeting in our company, it’s not uncommon to hear someone say, “Let’s make sure that we keep the main thing the main thing.” Every time a shiny new money-making method comes across our desk, we ask ourselves, “Does it fit into our vision? Or is it just a shiny penny?”
Earlier, I said that creating and living a 10x vision is like moving across the country. And let me tell you, making a big move like that is not for the faint of heart. But those who accept the challenge and make the tough choices when packing are often amazed at how much they were able to leave behind.
Try doing the same in your company. Set a destination (your 10x vision), and then start separating the components of your business into two piles: “to stay” and “to go”. You might be surprised at how much of the past you will be happy to part with.
Hungry for more? Click here to schedule a one-on-one call with us and we will give you personalized advice on cutting with the past and moving forward.