Manage episode 250428719 series 1524941
Most of us want to be our own bosses so we don’t have to take orders from anyone. Many people try their luck in owning their own business, but only some come out as successful business owners.
In today’s episode, Dean and James talk about a certain topic that every business owner should know, especially if they want to grow their business productively. James combines two sets of principles that will set you up for success.
By the end of this episode, you will know how you can establish a good and solid foundation for your business and be ready to take on 2020.
Outline of This Episode
- [03:34] The three ways to grow the topline revenue of business
- [06:05] What is an OKR (Objective and Key Results)?
- [12:48] Why setting the context of what is to be accomplished is important
- [19:35] Different kinds of objectives and ways to grow a business
- [26:59] How to get yourself ready for 2020
3 ways to grow your business
There may be tons of things that you can do as a business owner to possibly expand and grow your business. J. Abraham has suggested the three core aspects on which a business owner should focus.
James points out that these three levers of growth are helpful and essential tools for not only the business owner to know but for his team as well. As a business owner, you have to recognize that you and your team are dedicated to the right areas.
Objective and Key Results
OKRs create the laser focus that you need to drive your business to get more and growing more. Distinguishing your objective and knowing what the key results are and using them to measure whether the objective was met or not is vital in any business.
When you set a goal for you and your business, you normally will come up with a plan on how to achieve that goal. Having an OKR, it will direct all of your time and energy to work towards that target.
Combining the core levels of growth and OKRs
Once you have established your objectives and key results, you incorporate that in executing the core levels to grow your business. When the two are combined, it creates a more solid foundation of focus, goals, and growth.
As you move forward on your journey and as your team grows, setting the context for people to contribute towards the goals becomes more important. It is not necessarily by what they are doing to reach the goal but by how they’re showing up and what they’re thinking about.
QUOTE: "EVERYBODY WANTS TO FEEL PURPOSE IN WHAT THEY DO."
- Measure What Matters - Book
Connect With James and Dean
James P. Friel:
- CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
- Facebook Group: https://www.facebook.com/groups/hustledetox/
- Site: www.jamespfriel.com
- Blog: www.DeanHolland.com
- FB Page: https://www.facebook.com/DeanHollandHQ
- Billion Dollar Project: https://www.facebook.com/groups/BillionDollarProject/