If You're Not Growing, Look For This Ep 238

Summary Notes


In this podcast, the host emphasizes the importance of sticking to business fundamentals for growth and efficiency. They highlight common entrepreneurial pitfalls, such as neglecting basic processes in favor of new, often unproductive initiatives. By recounting an oversight within their own team's failure to follow up on customer applications, the host illustrates how such lapses can hinder business operations. The key takeaway is that success often lies in consistently executing well-established basics, rather than constantly seeking novel solutions. The host encourages listeners to regularly remind their teams of core responsibilities to maintain progress and prevent bottlenecks.

Summary Notes

Introduction to Business Growth Strategies

  • Speaker C introduces the podcast's focus on customer acquisition, maximizing customer value, and retention.
  • The podcast aims to share experiences, failures, and lessons learned in business.

Welcome to the game where we talk about how to get more customers, how to make more per customer, and how to keep them longer, and the many failures and lessons we have learned along the way. I hope you enjoy and subscribe.

The quote outlines the central themes of the podcast, emphasizing the importance of customers in business growth and the value of learning from past mistakes.

Importance of Consistency and Fundamentals in Business

  • Speaker B emphasizes that growth issues in business often stem from not adhering to established procedures rather than the need for new strategies.
  • The discussion includes an incident at Jim Walsh highlighting a fundamental mistake.
  • Speaker B suggests that businesses frequently need reminders of basic principles rather than new teachings.

What's going on, everyone? Happy Tuesday. Hope you guys are having a rocking and rolling start to the week. I wanted to make this podcast. If you're not growing, look for this because there are recurring issues that come up in business. And so we had one yesterday at Jim Walsh. It was great and just a fundamental mistake that was being made that hopefully you guys won't have to deal with or suffer from, right?

Speaker B sets the tone for the podcast, indicating that it will address common issues that hinder business growth, using an example from Jim Walsh.

But it's very likely that you, to some degree, are or are not. And so there's three main points that I think that we hit on in our community and then I probably need to hit on again, which is that many times we need to be reminded more than we need to be taught, right.

Speaker B introduces the concept that businesses often need to revisit and reinforce existing knowledge and practices rather than seeking new lessons.

A lot of times when I look at deficiencies in the business, I find that the reason that there are deficiencies is not because something new needs to be done, which is what we as entrepreneurs innately want to do, is like, oh, this isn't working, let's try something new. When in fact, the reality is that most of the time they are just not doing the thing that you already said they were supposed to do.

The quote highlights a common pitfall in business where the search for new solutions overshadows the need to consistently apply basic, proven methods.

Adherence to Basic Business Practices

  • Successful businesses maintain a strict adherence to basic practices regardless of their level of advancement.
  • Speaker B notes that top-performing businesses always follow up with leads and maintain consistent communication.

And so what I have seen time and again, over and over again at different levels of business, is that the people who are the most advanced never don't do the basics. They always follow up with their leads. They always call them in.

This quote reinforces the message that even the most successful businesses never abandon basic operational practices, such as lead follow-up, which are essential for sustained growth.

Importance of Adhering to Basics in Business

  • Successful businesses prioritize fundamental processes and ensure consistent implementation.
  • Simplicity in processes allows for scalability, while complexity often leads to failure.
  • Businesses frequently make the mistake of overcomplicating systems, which can break down, especially when the business owner steps back.
  • When parts of a business consistently fail, it is often due to overly complicated processes or the processes not being followed at all.

"They always, always, never don't do the basics. And so it's the basics that scale simple is what scales advances, what breaks."

This quote emphasizes the critical importance of sticking to basic, simple processes in business operations, as these are the elements that can be scaled effectively. Complexity is identified as a common cause of failure in business systems.

Misconceptions Entrepreneurs Have About Business Changes

  • Entrepreneurs often believe that minor tweaks can lead to significant improvements in their business.
  • The example of changing a button color or a headline with the expectation of tripling business is a common entrepreneurial myth.
  • In reality, minor changes, referred to as "happy to glad changes," often do not have a noticeable impact.
  • The term "happy to glad changes" originates from the contracting industry, describing unnecessary changes that do not lead to real results.
  • Businesses sometimes fail to implement even the basic processes properly before attempting to make changes.

"Most times when you're like, well, let's switch this word happy to glad, right? I call them happy to glad changes. And that comes from the contracting world that I came from, is they call them happy to glad, which is like, people just change stuff for the sake of changing it and doesn't actually change anything at all."

This quote explains the concept of "happy to glad changes," which are superficial changes that businesses make hoping for improvement but that ultimately have no significant effect. It points out the futility of making changes for the sake of change rather than addressing the root issues.

The Reality of Implementing Business Processes

  • There is a disconnect between the changes business owners want to implement and what is actually practiced.
  • Entrepreneurs often mistake the lack of implementation for the ineffectiveness of a process.
  • Before altering a process, it is crucial to ensure that the existing one has been followed correctly.
  • Discovering that a process was never properly implemented can be a revelation for business owners.

"But the reality is that they weren't even doing the happy process. They weren't even doing the thing that you told them to do to begin with."

This quote points out a common issue where businesses fail to properly implement even the basic processes they have in place. It suggests that before seeking to make changes, businesses should first ensure that the existing processes are being carried out as intended.

Importance of Following Up in Sales and Marketing

  • Emphasizes the necessity of follow-up with potential customers who show initial interest but do not schedule further contact.
  • Highlights a missed opportunity in customer acquisition by not addressing simple yet crucial steps in the sales process.
  • Speaker C expresses surprise and concern over the neglect of fundamental practices in building a business.

"I just found out that our team on the marketing and sales side was not following up with applications that didn't schedule a call." This quote illustrates a specific oversight within the sales and marketing team, where potential leads were lost due to a lack of follow-up with individuals who completed applications but did not book a call.

Networking and Audience Engagement on LinkedIn

  • Speaker A announces the initiative to connect with the audience on LinkedIn.
  • Encourages listeners to send connection requests and interact by tagging others in posts.
  • Aimed at building a community and engaging with listeners on a professional networking platform.

"Hey, Mozan, quick break, just to let you know that we've been starting to post on LinkedIn and want to connect with you." Speaker A invites listeners to connect on LinkedIn, indicating a strategy to expand their network and engage with the audience on a more personal level.

Revisiting Business Fundamentals

  • Speaker B stresses the importance of revisiting basic principles when addressing performance issues in business.
  • Advocates for simplicity and ensuring foundational elements like compelling headlines, resonant creatives, and attractive offers are in place.
  • Admits that often the root of problems lies in the neglect of basic steps.

"The basics, right? And so I feel like over time, I've consistently tried to go back, and when I look at things that are not performing the way they should, I don't even look for advanced stuff." Speaker B reflects on their approach to problem-solving by focusing on basic elements within the business, suggesting that before looking for complex solutions, one should ensure that fundamental practices are being executed correctly.

Importance of Consistency in Business Operations

  • Bottlenecks and breakdowns often occur because tasks are not being performed as they should be.
  • The solution is not necessarily to innovate but to reinforce existing successful practices.
  • Entrepreneurs are inclined towards new ventures, but business success often requires repeating what works.
  • Consistency in executing known successful strategies can be challenging but is crucial for growth.

"Most of the time, it's because they're just not doing what they're supposed to be doing, right. And so that means that we don't need to make something new, we don't need to make something fancy."

This quote emphasizes that the root cause of operational issues is often a failure to adhere to established procedures, highlighting the need for reinforcing current practices over creating new ones.

Entrepreneurial Challenges and Solutions

  • Being an entrepreneur involves the temptation to constantly engage in new projects.
  • The true demand of business lies in maintaining a high level of performance in familiar tasks.
  • Entrepreneurship can be taxing due to the need for consistent quality in execution.

"And what business usually requires is us to do the same things again at the same level. And that is why being an entrepreneur can be taxing and challenging."

The speaker reflects on the demanding nature of entrepreneurship, which requires sustained quality and consistency in business activities rather than constant innovation.

Growth and Problem-Solving in Business

  • Lack of growth may be attributed to overlooked failures in execution.
  • Regular examination of business processes can reveal significant opportunities for improvement.
  • Simplification and execution are often more valuable than complexity in problem-solving.

"And I think that looking like if you're not growing, it's probably because something that you think is being done is not being done."

This quote suggests that a business's stagnation could be due to the misconception that certain actions are being carried out effectively when they are not, pointing to the need for regular reviews of processes.

The Value of Reminders Over New Learning

  • Reminding teams of fundamental responsibilities is more critical than teaching new concepts.
  • Mastery of basics is a common trait among experts in any field.
  • Reinforcement of core principles is a strategy for maintaining business momentum.

"We need to be reminded more than we need to be taught. Experts never don't do the basics."

Here, the speaker underscores the importance of continual reminders about basic responsibilities, implying that even experts must consistently apply fundamental principles to succeed.

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