All businesses want to see hockey stick growth that is moving upward and to the right constantly.
But if most businesses (including yours) look back at their history, they probably will notice it’s more like a staircase, not a diagonal line.
That means they did something that made a BIG DIFFERENCE in the company and then things leveled out.
Then they made another big decision that created growth and then things leveled out.
That’s how most businesses experience growth.
Of course, there’s the outliers that see explosive growth but they eventually level out too. You can see that with many major companies right now that had explosive growth 3 years ago but their stock price has leveled out and their hiring spree has come to an end.
Here’s some examples of things that create staircase growth…
- They make a key hire that brings a fresh perspective
- They change their marketing strategy if the current one isn’t working
- They hire a coach or mentor to point out their blind spots
- They revamp their product to get better and faster results for the customer
- They build up a leader who shakes things up for the better
I’m sure you can look back and see moments where you made a big change and it led to big results in your business!
One of the best changes we made (and continue to make) is making our product better.
Why does this make such a massive difference?
As time goes on and the marketplace gets more competitive, you will only see cost per lead go up and up. You need something that will offset that problem.
And the solution is REFERRALS!
The goal is to make customer success so good that it creates endless lead generation from referrals.
People just bring in friends and family AT NO COST because they remark on your customer experience.
Most Gym Owners would say they get a steady amount of referrals but they always get caught off guard when I ask two questions…
- How many are you getting each month? (If you don’t measure, you are flying blind)
- What is your referral strategy? (In other words, how do you pre-plan asking for them? You don’t want to hope and pray they will come in)
The staircase of growth in your business shows up in many ways. What are key things you remember changing that led to measurable growth?