A Growth Strategy Equals a Growing Business
The “10x” concept originated in the internet technology (IT) world to describe engineers who are 10 times (10x) as productive as the worst engineer in a company. Professionals from digital marketing to athletic performance have adapted the term to describe strategic growth. Small businesses, like yours, can easily apply a 10x growth strategy.
Google expanded the concept to describe 10x thinking. Instead of small incremental improvements, they raised the bar, seeking exponential advances. This growth strategy takes advantage of technologies rapid advances.
Why Create a 10x Growth Strategy
Marc Winn explains the difference: In simpler terms, our brain is designed just to recognize nice easy sequences of progression like 1, 2, 3, 4, 5, 6, 7, 8, 9, 10. But technology just doesn’t improve that way. It improves exponentially – changing at an accelerating rate of 1, 2, 4, 8, 16, 32, 64, 128, 256, 512. Those two paths are massively divergent, making it extremely difficult for us to predict and perform in that way – unless we enforce a different way of thinking.
As an accounting professional, you can train yourself to think exponentially about growing your business.
Your start-up plan got your accounting practice off the ground. Your next phase of business growth, however, requires a different strategy. Apply this simple addition and subtraction process for 10x growth.
Review where you are right now.
- What activities drag you down?
- Which activities do you enjoy the most?
You already know the answers. Don’t keep them in your head. Instead, write a list for the two categories.
Find the Takers
Highlight the tasks that you’d gladly pass forward. These include the things you delay, require a long time to do or can be done by someone else.
The things which drag you down are the first things to go. You can either delegate them or eliminate them. Yes, you’re doing some activities which aren’t even necessary. If they’re not relevant with achieving your goals, then let them go.
Surround yourself with people who are excited to help your business grow. Start by hiring people who enjoy doing the things you struggle with. Although it’s hard to imagine, there are people out there who love talking to prospective new customers or tax advising or payroll.
In your personal life, look at the people who demand time that takes you away from family and friends. As an accounting professional you already have a full plate. If there are people in your life who stifle your growth, then evaluate the time you spend with them. You’ll be amazed with how your business grows once you reduce the toxic relationships which drain your energy.
The Quarterly Plan
Change is constant. So are you a planner or a reactor? Your 10x growth strategy includes quarterly reviews. That’s because every three months is a reasonable time frame to notice change. Growth accelerates when you’re willing to adapt and remain flexible.
Every three months:
- Eliminate three energy draining tasks or relationships.
- Add three energy charging activities.
It’s that simple. Add and subtract. Every quarter apply these action steps. Then notice how your business runs more smoothly, is more productive, and gives you a sense of accomplishment.
The 10x Growth Strategy Mindset
Mindset is crucial to business success. Eliminate those energy draining activities and relationships. You’ll feel better.
This ongoing process deserves your attention. Letting things go can be difficult. The rewards, however, are well worth the effort. Focus on the positive for exponential business growth.
Simply eliminate three negative influences each quarter. Not only will this improve your mindset, you’ll free up time for activities you enjoy. Those energy draining tasks which seem like punishment get replaced with activities that energize your spirit.
What would you start doing that you’re not doing now? Would you get outside more to enjoy the day, spend time in quality personal relationships or foster a mindset that naturally manifests business growth?
Consider this – as you add three positive activities each quarter, in one year you’ll have 12 strategic activities that you couldn’t fit in when you started the plan.
Every quarter add three positives, subtract three negatives. Imagine what you and your business will achieve in three years.
Growth doesn’t have to be a long drawn out process. 10x business growth is achievable. Get started with your lists today. Make change happen. Then enjoy exponential growth.
How Success Coaching Can Help
Your lists will be an eye-opener about how many things drag you down. You may feel overwhelmed by this list and believe that this strategy doesn’t apply to you. My background in therapy, and work with growth minded accounting professionals, has helped others sort through their overwhelm to grow a thriving business.
Take positive steps to get started with your 10x growth strategy. Follow these recommendations for your accounting practice to be successful, and grow while keeping your passion alive. Are you tired of doing work for free because you don’t know how to charge for it? Discover how to get paid what you are worth and attract clients who understand your value. Right NOW claim your FREE Resource to earn more while working less.