Robbins: The key to making documented, explosive profit gains is optimization and maximization. In reality, if you understand the force of optimization and maximization of your people and processes, you can grow your business consistently while others are taking wild risks that don't always pay off.Įntrepreneur: How can a business owner grow his or her profits by 50 percent in the next 12 months?
Most people think in order to have explosive growth they have to make giant changes. It's only a matter of time.įinally the sixth force is where you can create explosive growth in your company. It's easy to fly when there are clear skies (i.e., a good economy), but when you find yourself surrounded by storms and fog, if you can't read the gauges, you're going to crash. If you aren't able to understand and analyze the financial condition of your business on an ongoing basis, you're like a pilot of a plane who doesn't know how to read the gauges in front of him. The fifth force that business leaders must understand is the power of both financial and legal analysis. It's great that your marketing strategy is attracting clients, but that doesn't mean anything unless you produce continued growth and sales. The fourth force is sales mastery systems. It's something I call "value-added marketing." Or, more importantly, the ideal client you want, to seek you out. That just means having a process that gets a mass number of people to want to do business with you. The third force of business is world-class, strategic marketing. They make poor decisions, and decisions shape our business destiny. Or, their marketing skills might be off the charts but their inability to make effective financial analysis in the end destroys all they've built. Oftentimes, entrepreneurs have some core skill sets - perhaps they're extraordinary at writing code or creating extraordinary products - but their marketing skills are low. Why do so many business fail? Because even a small business requires consistent improvement in many areas simultaneously in order to compete and win.
Most people know that 50 percent of all startups are gone within the first year and that 96 percent of all business fail after 10 years. Robbins: They're the seven parts of any business that have to be consistently managed to consistently grow and succeed. What can you tell me about these forces and what they mean for entrepreneurs? What follows are his responses, edited for length and clarity:Įntrepreneur: You say that "seven forces" are the keys to business mastery.
Ahead of his next Business Mastery seminar in Palm Beach, Fla., next month, we caught up with Robbins to find out how people can be better entrepreneurs and grow their businesses. At six feet, seven inches tall, Robbins is a large man who has a deep passion for business and helping others succeed.
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