Three Foundational Secrets That Can Help Take Your Business To The Next Level

Tyler Martin of ThinkTyler is a certified business coach & consultant who helps owners grow & scale their businesses using proven systems.

As you’ve probably already realized, growing your business from six or seven figures to eight requires a slightly different mindset. You’ve seen that your business has potential, and you already know your product or service is viable in your marketplace.

But how do you expand on that success to grow your business to the point where you go from being an overworked business owner to being the type of owner who’s enjoying massive success and explosive growth? These are fantastic questions.

And in today’s article, I’m going to share three foundational secrets that must be present in your life and business in order to get you there. These secrets aren’t necessarily a foolproof guide to easy success. After all, you already know that none of this is easy.

But without a thorough understanding of these three foundational principles, and without implementing them into your life, business and processes in a deep and meaningful way, your business will likely struggle to really take off. It’s like trying to ride a tricycle that has a wheel missing: It’s just not going to work.

So without further ado, let’s get into it.

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1. Have a compelling long-term vision.

Business owners and entrepreneurs are usually creative problem solvers. But this doesn’t always make them good long-term planners. In fact, many business owners struggle when it comes to creating a long-term vision for the company.

In the book Vivid Vision: A Remarkable Tool for Aligning Your Business Around a Shared Vision of the Future, author Cameron Herold outlined this perfectly in the following quote. “When workers within an organization are making decisions with the same intuition as their leader, that is a hallmark of success. That is one of the reasons you’re training people to be leaders in the first place. Your job as the CEO is to align and inspire everyone and then get out of the way and let them run.”

Having a vision is essential for your team, but it’s also essential to keep you on track so that you can stay ahead of the curve and keep looking ahead to the future. Without a vision, many business owners succumb to chaos. Their organizations inevitably deteriorate to making circular movements instead of forward progress toward a unified objective.

2. Delay your gratification.

We’re all keenly aware of hustle culture. But the concept of grinding out your success through sheer hard work and determination is a two-edged sword. On one hand, the idea has merit. But on the other hand, the concept is usually tossed around without an explanation of the deeper context.

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When you commit to delaying your own gratification to do what’s necessary to grow your business and make it even more successful, that’s when you uncover the kind of work ethic that takes businesses to the next level.

Elon Musk, Tesla CEO and SpaceX founder, is well-known for this. “When my brother and I were starting our first company, instead of getting an apartment, we just rented a small office and we slept on the couch,” he said at a commencement speech in 2014 (via CNBC). “We showered at the YMCA, and we were so hard-up that we only had one computer. The website was up during the day and I was coding it at night, seven days a week, all the time.” His advice was to “Work hard every waking hour.”

Even to this day, Musk is said to pull 80- to 90-hour work weeks. This doesn’t mean that you should put in that many hours. But the idea here is that you’ll sometimes need to perform “extraordinary feats” to make extraordinary success a reality. And delaying gratification is a key part of the game.

3. Compound your efforts (and results).

The third and final secret to taking your business from where it is now to explosive growth in the future lies in taking the value that you’re capable of creating as the business owner and compounding it to get even greater results. How do you do this?

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Delegate crucial business processes out to highly qualified and creative talent—using either your in-house team, an external company, freelancers, etc. If you’ve ever been to a business seminar, you’ve likely heard various speakers talk about the importance of being able to delegate tasks and create processes.

Well, they’re right.

A lot of business owners still struggle with this. In fact, you might be surprised to learn that business owners are often the largest bottlenecks in their own businesses. But the truth is that you have limits as a human. So, it’s vital to replicate the resulting fruits of your creativity by using outside help and in-house resources to create processes to compound results over time.

These three foundational secrets are absolutely necessary if you want to grow your business. Now that you know the secrets, it’s time to implement them. You already know that you’ve got what it takes.

Now it’s time to execute.

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