Manage episode 171876979 series 1270948
The Greatest Business Decision of All Time, the 7 - 70 Rule, what woodcarving can teach you about being the dominant player in your industry, and more with Verne Harnish.
Verne Harnish is founder of the world-renowned Entrepreneurs’ Organization (EO) and chaired for fifteen years EO’s premiere CEO program, the “Birthing of Giants” held at MIT. Founder and CEO of Gazelles, a global executive education and coaching company with over 150 coaching partners on six continents, Verne has spent the past three decades helping companies scale-up.
Recorded Live from the Genius Network Annual Event.
Here’s a glance at what you’ll learn from Verne in this episode:
- Why going after the "low-hanging fruit" will DESTROY your margins and commoditize you faster than any single decision you could make (Verne shares what to do instead)
- Verne explains the "7-70 Rule" that is at the heart of super-success (Ignoring this rule is what causes many businesses to fail)
- The strange (and profitable) reason why you should only strive for a few percent of your marketplace (This is a secret utilized by the largest companies in the world like Apple and Walmart, and it can work equally well for you too)
- An overlooked business key that makes you money NOW...and... it's also the key that most business owner make the WRONG decision about! Verne shares what it is and how to get it right. What could woodcarving possibly teach you about becoming the dominant player in your market?! You have to hear what Verne shares here...
- The most important pivot you're going to have to make in your business...and...the reason why you have to make this pivot IMMEDIATELY if you want to stay ahead of your competitors
- There's always a segment of a market, no more than 7% to 10% of the total market, that represents an inordinate amount of the profitability in that industry. Here's how to find it, capture it, and capitalize on it...
Shownotes, special resources, and links from this episode can be found at: GeniusNetwork.com/20
76 episodes available. A new episode about every 6 days averaging 33 mins duration .