7 Lessons From A $46.2M Business

Summary

• I sold my last company for $46.2 million, and here's what I learned: to succeed, make sure you advertise more, because no one knows you exist if you don't.
• Don’t be afraid to repeat yourself. People often need reminders more than they need new information.
• Happy customer testimonials are more powerful than any marketing promises. Collect them and use them often.
• Raising your prices usually leads to making more money; however, you might hear "no" more frequently, and that's okay.
• No matter how big your business gets, always spend time talking to your customers to understand their needs.
• Before trying new strategies, focus on multiplying what already works by ten times.
• Remember that business is inherently stressful, whether you're growing, declining, or stagnant. You don't need to change who you are; you just need to learn to endure.

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How To Take Action

I would suggest implementing these strategies to see big results without spending a lot of time or money:

First, start advertising more. It doesn't have to be expensive—social media posts, online communities, or even flyers can get you noticed. The key is consistency.

Repeating your messages isn't just okay; it's necessary! Remind people of what you offer regularly. People need reminders, not always new information.

Gather testimonials from happy customers. A simple way is to ask satisfied clients to write a short review. Share these everywhere—on your website, social media, or promotional material. Their words are more convincing than anything you could say.

Consider raising your prices. Not everyone will say "yes," but that's okay. You’ll make more money from those who do.

Always take time to talk to your customers. Whether you own a store or work online, listening to their needs gives you insights that can keep your business growing.

Before you start any new strategy, do more of what already works. If you have a product or method that's successful, multiply your efforts there before trying something new.

Lastly, remember that business stress is normal. Whether you're on the rise, standing still, or falling, it’s okay. You don’t need to change who you are; just learn to stick with it through tough times.

Implement these, and you'll be on the path to success without tons of added cost or effort!