HOW TO GROW 10X = 1,000%
Continued #2...
Post #65
June 18, 2024
In last week’s blog post, I said we would continue this week with Kathleen Patten’s seven things to have 10x (1,000%) growth.
This is taken from Chapter 21, a chapter Kathleen Patten, the President and CEO of American Target Advertising, authored, in my book GO BIG: The Marketing “Secrets” of Richard A. Viguerie.
SEVEN THINGS TO HAVE 10X (1,000%) GROWTH
1. Courage. In Strategic Coach®, one of Dan Sullivan’s books, The 4 C’s Formula: Commitment, Courage, Capability, and Confidence, talks about the “building blocks of growth.” Notice how courage comes before you have developed the capabilities and before you gain the confidence. You need to make the commitment to 10x growth and have the courage to start. Once you do those two things, the capabilities and confidence will follow.
2. The 80–20 Rule. The Pareto Principle (https://www.investopedia.com/terms/p/paretoprinciple.asp) outlines how 20% of effort or input equals 80% of results. Identify for yourself and your organization what that 20% is. Cal Newport’s excellent book Deep Work emphasizes the value of intense focus. Identify the 20% that will generate 80% of your growth and then do a deep dive focusing on that subject. For example, if 80% of a nonprofit’s income comes from 20% of its donors, how does it exponentially grow the pool of donors? (Read Perry Marshall’s book 80/20 Sales and Marketing).
3. Find Your Who. Most people’s natural way of thinking is to think tactically. When confronted with problem X, we ask ourselves, What do I need to do to solve problem X? Exponential growth only comes when YOU are not solving problem X. You only have so many hours in the day. And you need to focus on what you are uniquely good at. In each situation, look for the “who” that can take the lead on the project, solve the problem for you, write the plan, run the marketing, and so forth. (Read Dan Sullivan’s book with Dr. Ben Hardy, Who Not How. The concept is simply life-changing. See https://whonothow.com.)
4. Collaboration. Collaboration is a true multiplier. Identifying what you are uniquely good at as a company, within terms of people and a business as a whole, is a key focus of Sullivan’s coaching program. Once you do that, you have started down a path of success. When two entrepreneurial businesses combine forces on a project, focusing on amplifying their strengths and not focusing on competition, huge things can happen. Together they create opportunities that propel growth and success. Sullivan has a book on collaboration that can be found on Amazon or Strategic Coach’s website.
5. Multipliers. Peter Diamandis, founder of the X Prize Foundation, said, “The on-ramp for an exponential mindset is asking, What am I not digitizing that I should be?” A good example of this is Hillsdale College. Once Hillsdale took their in-person courses (starting with an introduction to the Constitution) online, their reach moved from the 1,500 students on campus each year to hundreds of thousands of Americans across the country each year. Going digital with their online courses and marketing efforts grew their reach much more than 10x. And it keeps growing every year, thanks to the entrepreneurial mindset of Hillsdale College President Dr. Larry Arnn.
6. Conquering Complexity. When your growth plateaus, look for what Dan Sullivan calls “ceilings of complexity” in your organization. Where can you simplify things, digitize things, etc.? What are the ceilings of complexity that hold you back from exponential growth?
7. All of Life. Look at all aspects of your life, not just your business. Identify what in your life needs to be jettisoned. What will remain? Not just things or activities, but even people. Surround yourself with people who are entrepreneurs. Most people attracted to right-of-center nonprofits are in it for the project/program. They want to do good. They want to change the world. They usually didn’t go to business school and don’t know much about building a business. You need to surround yourself with entrepreneurs, risk-takers, people who can guide you and celebrate your successes with you.
In next week’s blog post, we’ll continue this conversation on how you can apply Kathleen’s seven things to your organization and life.
Your feedback is helpful, appreciated, and needed. Please email me at rviguerie@americantarget.com with any thoughts or comments you may have.
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