Formula for Accelerated Growth and Profits.

We live in a world where we are bombarded by various sources competing for our attention. Because of this, and the fast pace that we live and work at, we also find that our most valuable resource, time, is becoming more scarce and increasingly valuable. It stands to reason that in this environment that shortcuts, formulas, and/or so-called hacks are being sought after by business leaders, to help them focus on mission critical issues and become more efficient in using their time and/or managing business.

I believe that the formula that I'm about to share with you is practical and that it will also enable you to focus on the mission critical issues of building and growing your business.

The formula I would like to introduce you to is P (Product) x P (Process) x P (People) = Px/Gx (Exponential Profits & Growth)

Product

Obviously for your business to both grow and succeed you will need to deliver a product or service that is in demand and can be sold for a profit. However this in itself is not good enough, products or services does not necessarily differentiate you well enough to create barriers to competitors or your clients to be loyal.

Nowadays you will need to create a level of stickiness in your product and service to ensure clients stick with you and buy more from you…think Apple that does not allow for integration with other tech products. Your product or service will also need to solve a real problem for a specific group of clients (your niche) in a unique or impactful fashion.

We all need to be clear on what problem we are solving for who, and also articulate this well enough so that our clients will perceive our product or service as a being valuable and/or irreplaceable. This talks to the positioning of your product/service in the marketplace. Once we are able to accomplish this we will need to focus on the next step in the formula, process.

Process

In this context process refers to business processes, a business process is a collection of linked tasks which find their end in the delivery of a service or product to a client. It is a set of activities and tasks that is required for the business to be able to produce and deliver the service/product to its clients in a consistent manner.

You will need to build and systematize your business processes in such a manner that it will deliver a stellar client experience consistently, and they must also ensure that this is done in the most cost effective and efficient manner possible. By doing this you will also enable your business to become scalable, business processes and systems built in the right way will always lead to your business becoming both scalable and replicable.

People

Once you’ve built the necessary processes and systems it becomes super easy to scale your business, just add people! Most entrepreneurs make the mistake to assume that you scale a business through people. This is to put the cart before the horse and it’s the formula for disaster. When you do it the right way around (first process than people) you can find/identify the right people and get them to do the right thing at the right time.

Exponential Growth and Profits

The three factors above placed in this sequence will create both exponential growth and profits in your business. Remember this formula: P (Product) x P (Process) x P (People) = Px/Gx (Exponential Profits & Growth) when starting or growing your business. Many successful high growth businesses were able to create the traction and success that they have today because of them applying this formula…even if it were done subconsciously or instinctively, this is how they did it.