How to Grow Your Business FAST: 3 Secrets Every Entrepreneur Can Use
An interesting fact: If you own a home security system, thank inventors Marie van Brittan Brown, a nurse, and her husband, Albert Brown, an electronics tech. While residing in a high crime neighborhood in New York, the couple worked odd hours that left Mrs. Brown alone. At night, she would sometimes hear knocking on the front door. Feeling vulnerable, she developed a method of remotely monitoring the home’s main entrance using televisions, peepholes, microphones, and cameras. Her patented invention formed a surveillance system that, even today, is still widely used in places like banks, office buildings, and apartment complexes… This reminds of today’s discussion on how to grow your business. More specifically, I’m going to reveal the three most important secrets that catapulted my business from a few hundred thousand in revenue to millions. Also, I’m going to tell you which famous person bought my most popular website. You won’t believe it. <<>> You are now tuned in to Leonard Innovation, where the focus is on entrepreneurs who don’t come from wealth, but have the potential to be great. My name is Justin Leonard. Thank you for tuning in. So, when you start a small business, sometimes you don’t have any expectations of how much the business can actually generate in revenue. In my first few years as a business owner, I would just try to make as much as I could… I had owned my business for about 4 or 5 years before my financial situation dramatically improved. At the time, I didn’t realize what specifically led to so much growth in a fairly short amount of time. But when I went back and analyzed what I had achieved, I noticed that there were three things that I did which significantly impacted the financial trajectory of my business. Number one: I developed software. Number two: I built platforms. And number THREE: I sold my most popular websites. <<>> The first thing that transformed my business was developing software. This is how to grow your business fast. If you have read and understood how the Leonard Entrepreneur Scale works, you already know that automation and the ability to scale is quintessential to level three. Most small businesses can’t do this. By the way, there is no such thing as a non-scalable business. Farming companies are now tech companies. Vehicle manufacturers are now tech companies. Many restaurant owners generate a significant portion of their revenue via mobile apps. So, any business is capable of scale. But, as an entrepreneur, growing a small business is a lot easier if you have the ability to develop software to streamline operations. Let me explain: A website I once owned called fitness infomercial review dot com was one of my most successful projects. It allowed consumers who had tried fitness-related infomercial products to write reviews and rate them from one to five stars. What many don’t know is that, originally, the reviews came in via email… and I would MANUALLY post them after a simple validation process. But over time, the website grew in popularity and I was unable to MANUALLY keep up with the sheer number of reviews. So, that’s when I hired a website developer to assist with the process of automation. By the way, the very first person I hired is still my lead developer today. Now, once the ability to automate reviews was put into place, I was then able to replicate the software on another website that ultimately became one of the most visited in the United States: infomercial ratings dot com. It was a natural progression. I basically said… if fitness infomercial reviews were popular, why not extrapolate that concept and create a website that allowed consumer reviews of any and all infomercial products. And I didn’t stop there: The same software was also used on another highly popular website: supplement critic dot com. So, this was pretty much the same idea as the other two, only it allowed reviews and ratings of bodybuilding supplements. Imagine the popularity of a website… that isn’t trying to sell their own products… where you can read consumer reviews of diet pills, muscle builders, and potions before you buy. So, this was the second critical factor that significantly impacted the financial trajectory of my business: it was building platforms or websites that a large number of people could use. And the third thing I did was SELL my most popular websites. Regardless of popularity, I was always open to the possibility of selling the websites… for the right price. Eventually, both the infomercial and supplement review sites were sold. And this hasn’t been disclosed to hardly anyone, but… it was self-transformation author, motivational speaker, and success coach, Dean Graziosi, who purchased my network of infomercial websites. I then used that money to grow another asset, workoutz.com, which I would describe as the type of business I really wanted. For those listening by audio, workoutz is spelled with the letter Z instead of an S. <<>> And that is how to grow your business. So, again, there were three important factors that changed everything: the development of automation software, building platforms or websites that were of interest to a large number of people, and then selling the websites once they became popular. And once the websites were sold, with sufficient capital in hand, I then took on larger projects that generated millions. Another interesting thing to note: There was never a time where I actively marketed, for sale, my websites to potential buyers. For anything that sold, each time, it all started with a random inquiry from an interested party, and that would begin the negotiation process. For even more tips on how to grow your business, I created the 90-day online launch guide. This free resource teaches you the basics of starting and growing an online business. The launch guide addresses things like how to determine what to sell, how to market your product, and specific software you can use to automate your business… Again, this is absolutely free. Access the 90-day online launch guide today at leonardinnovation.com/launch Lastly, you can now find leonard innovation streaming on podcast services like amazon music, pandora, audible, apple, spotify, and google. And if you found this information helpful, please share it with a friend. Thanks again for tuning in.