Business
So, in the circles I’ve run with – business gets talked about a lot. And oftentimes you’ll hear people talking in social settings about bad ideas, “Hey my cousin had an idea and it was a horrible idea.” “I’ve started a business and it was just a bad idea and that’s why it failed or “I have an idea for a business but I think it might be a bad idea so I’m not going to start it.”
These kinds of conversations come up often and I hear them a lot. What’s really interesting to me is I don’t think there’s a bad idea. I just don’t think there’s a bad business idea. Now, what Imean by that is I can take any business idea you can think of and I can show you someone who is making millions of dollars on that idea. Whether it’s digital, retail, brick and mortar, manufacturing, service-based, you name it. There is somebody out there doing that successfully. And maybe that idea hasn’t been thought of yet.
Jay Abraham has something he talks about, which is your three ways to grow a business. Now, this is something that I use in all of my businesses on a regular basis, but I especially use it for my strategic planning, and when I’m forming my 90-day goals.
So it’s very simple, and it’s going to require you to actually write some things down. So grab a blank piece of paper, and if you have your own business, you’re going to need to do some research with this, but first thing, that … What are the three ways? Well, the three ways are: To increase the number of customers. So, obviously, the number of customers or clients you have, increasing That base is one way. Number two is to increase the average transactional value. So, if somebody’s buying one widget, can you get them to buy another?
Now, when I talk about running your life like a project, what I’m really talking about is a conversation I had with a friend of mine. Now, he’s a business owner, and he manages several projects on the given day. He’s really efficient at it, but when it comes to his life when he leaves work, his life seems to fall apart. He looked at me and said, “Doug, what do I do? Like, you know, I go home, my relationships are in shambles. I can’t seem to get fit, my health, my energy is just down. I just can’t manage all of this.” And as soon as he said, “I can’t manage all of this,” a light bulb picked off in my head. He’s a project manager, so why isn’t he managing his life like another project?
Today’s topic, public commitments. Hi, I’m Doug Holt with Author of Your Own Story, and this is your Daily Growth Hack, where each day we give you a tip, trick or insight to help you uplevel what we call the Five to Thrive that is your mind, your body, your soul, your relationships, and your business.
Now when I’m talking about public commitments, what I’m talking about is putting yourself out there. Taking a goal, a dream, or even a small task and making it known publicly. Now, the restaurant industry figured this out many years ago. They used to have a real big problem with cancellations of reservations. They used to typically say you’d call up a restaurant and you’d say, “Yes, I’d like a reservation for six please,” and they would simply say, “Hey, call us back if you change your mind.”
Today I’m going to share a little insight into something that happened to me. I’m going to share this with you in the idea that hopefully you can see it happening in your life and pull yourself out, even a little quicker than I did.
See, about a month ago I started my fifth business. All my businesses are actually been created around my life and my lifestyle. This fifth business, we’re actually coming out to solve a solution that we saw a need for in the fitness industry. You see, in the fitness industry, there’s a lot of people that’ll help out business owners with their marketing, but only pick out one vertical. So, maybe that’s just social media or PPC or actually organic traffic. We wanted to create a complete solution that automated that process for fitness professionals at a price that they could afford. This has never been done.
