Episode Summary: You're no dummy. Sales, marketing, systems and processes are pivotal to a growing and thriving business, but outside of those things, Mike wants to give you the 'ONE thing' that changed the game for him in business. Learn an easier path to implementing this 'one thing' in your business and how to identify if you are already doing this 'one thing' that changed everything in a matter of days for him and his companies. Find out on episode 2 of the Business Grit podcast.
Show Notes: Think back to when you first started your company: the passion and excitement you had to wake up and get to work in the morning. You were consumed with your company to make a better life for yourself and those around you, so you have to have this 'one thing' for your company to survive through every season!
If you don't have a business that reflects you, you've built a house with no foundation. Your business needs to reflect who you are!
Mike tells the story of how he sensed a mass exodus about to happen in his company - money was tight and he had to shut the company down over the holiday season, and when they returned, he had a heart-to-heart with every employee and told them that the company was going to run as a reflection of him and if they didn't like it, they could go find another job and shouldn't bother coming back to work on Monday.
As a result, Mike had the tall task of re-building his company when nearly 90% of his employees left. One of which told him he was leaving because if one more employee left him, he would be out of business. Mike's response? "You obviously don't know me".
Fast forward six months. Mike's company doubled in payroll efficiency, grew revenue by 60% and more than 10x'd their profit.
Mike was able to do this with a smaller, less experienced team that was loyal and made no excuses because they were ready to buy-in to the culture and vision.
After Mike tells this powerful story he asks you some key questions about your company and if it reflects you or not.
He says you can't change people's moral compass, you have to find people that are going to truly buy-in to your vision and function as a reflection of you. Otherwise, they will run your company into the ground.
Mike closes this episode with a challenge.
The challenge is this:
Pick the one thing you refuse to tolerate in your company any longer and share this one thing on the Business Grit Podcast Instagram or Facebook page so he can support your efforts.
Subscribe, rate, and review the podcast so Mike can get this in front of as many entrepreneurs as possible!
Head over to episode 3 where Mike shares the 7 team traits of a revenue doubling team.
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