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#5 - What Holds Companies Back From Scaling Past $1M
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Save $500 off the Business Performance Audit: https://tailoredpremier.com/business-performance-assessment
Join Jessica Marx in this episode of the Millions Were Made Podcast, where they delve into the intricacies of business scaling. From dissecting common pitfalls hindering growth to uncovering strategies for maximizing profitability, Jessica and Brooke leave no stone unturned.
They explore why many companies struggle to surpass the million-dollar revenue mark, emphasizing the importance of adapting to evolving market dynamics and buyer psychology. Through real-world examples and actionable advice, they illuminate the significance of understanding consumer lifetime value and avoiding the allure of vanity metrics.
Discover the hidden gems of business performance audits and gain invaluable insights into what truly drives scalability in today's competitive landscape.
Tune in now to unlock the secrets to scaling your business to seven figures!
Highlights
- (00:57) The main reasons why companies struggle to scale beyond the million-dollar revenue mark, emphasizing the importance of adapting to changing economics and buyer psychology.
- (03:17) How buyer psychology is evolving and what are the necessity for businesses to anticipate market shifts rather than relying solely on past strategies.
- (06:16) The balance between focusing on revenue and profit and the significance of understanding the profitability of projects and clients.
- (08:45) The areas where million-dollar businesses often leave money on the table, highlighting the importance of maximizing customer lifetime value and avoiding spreading resources too thin.
- (11:47)b The red flags for scalability and profitability that potential buyers look for in businesses, emphasizing the importance of having a well-documented, scalable structure.
- (16:40) The contrasts of the portrayal of entrepreneurship on social media with the reality of the grind and hard work involved in building successful businesses.
Connect with Jessica:
Instagram: @millionsweremade and @thejessicamarx
Website: Million Were Made
Work with Jessica: Tailored Premier
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