Here’s how you pick the right growth strategy for your business
After more than 21 years teaching and training over 150,000 entrepreneurs to achieve business, financial and personal success, I’ve found that everyone starts at the same beginning but there are multiple finish lines and totally different ways to get there.
Since none of us was born an entrepreneur, and none of us got an entrepreneurial education in primary or high school… we all needed to figure out a way to learn how to survive (first) and succeed (later) as a business owner.
Most entrepreneurs choose to go for the school of hard knocks. That’s when you go through years and years of trial and errors until you either ‘get it‘ and finally experience success, or you don’t ‘get it’ and you give up and quit – either to become an employee or to have a tiny business generating for you minimum income and making a minimum impact in this world.
Some entrepreneurs choose the path of self-education in order to learn about business, marketing, finance, communication, negotiation, etc… either through books, audio/video courses or live trainings.
Finally, some entrepreneurs choose to work closely with a mentor (or more than one) – an experienced entrepreneur who already reached high peaks of success and they get their mentor to guide them on their journey to business and financial success.
Now, I am not implying that the third one is always the right one. In fact, in my 31 years as an entrepreneur – I took them all.
I started my first business when I was 18, learning through the school of hard knocks. I had no idea what I was doing, but with luck and persistence, I managed to get my startup to float… a few years later I started a formal business education – an intensive one year program – that taught me how to budget, how to write a business plan, how to attract investors, and how to handle export.
I implemented everything I learned and, as a result, my company grew to 23 people and I became a millionaire. Two years later my company faced new challenges, which I wasn’t educated and equipped to face, I made a few critical mistakes, and lost my company.
As I started again in the Netherlands I resorted again the school of hard knocks, and I struggled to keep my new business floating. It took me almost 10 years of struggle, before I realized that the reason I didn’t reach my goals was the lack of knowledge in some key areas.
So I opened myself up, lowered my ego, and started learning again.
Over a period of 2 years my wife and I invested almost $250,000 in business and financial courses. At the time we couldn’t afford those courses, so we borrowed a lot of the money just to study with some of the top entrepreneurs and business mentors in the world. Every time we came back home after a course, we would spend weeks and months implementing everything we learned in that course, to ensure we earned the course fee several times over.
The result was that within a few short years we became totally financially free and only a year later we made our first million.
With some money to invest and high goals I stopped following courses with hundreds of participants and instead focused on working one-on-one or in small groups with two of the top business mentors in the world – Jay Abraham and Rich Schefren. It wasn’t easy to get them to mentor me. I spent a few years pursuing each one of them, trying to persuade their staff that I was worthy of their time, and only after spending thousands of dollars on small mentoring groups with each one of them, I could finally convince them to work with me one-on-one.
I worked with Rich Schefren for a while (I even brought him on my stage for a training for our advanced students).
When it comes to choosing the best education strategy, here are costs and benefits for each type:
- The school of hard knocks takes the longest to graduate, and is usually the most expensive (you normally don’t consider the opportunity cost). With no one to show you what to do, your chances of failing and losing it all are extremely high and you are missing opportunities left and right.
- Formal or informal education costs you money but saves you months or years of effort, and tons of mistakes. However, you’re the one that needs to interpret the general lessons and apply them correctly in your business.
- The RIGHT mentors will cost you a fortune in fees, but will be there to apply their knowledge to your specific business and will help you open your eyes to opportunities and potential fatal mistakes.
Now, I am not saying you should jump straight to 1-on-1 mentoring. I believe that, as an entrepreneur, you simply go through different phases and you can’t really skip the school of hard knocks. Every business is unique, every entrepreneur is unique, so trial and error is crucial to learn some very valuable lessons.
BUT when you want to go from hobbyist to real entrepreneur you have start investing in your business, financial and personal education – so you multiply your chances of success ten-folds (probably even more). Every euro you invest in your education generates for you thousands more in profits and saves you thousands that you’d lose otherwise.
AND when you think it’s time to upgrade your game from good to great, you need to switch gears and get the RIGHT mentor to help you accelerate your business growth and fulfill your business’ potential.
Now, here’s where it gets interesting. Jay Abraham will come to one of his extremely rare trips ever to the Netherlands and he is willing to work with 15-20 participants to help them take their business to the next level in a transformative 3-day live event called “Ultimate Business Makeover. The event will take place in Amsterdam on coming 22-23-24 June 2017. This unique event with my own mentor is $25,000 and it’s a fraction of the money I paid Jay Abraham over the years. If your business is ready for a next phase, I would jump on it, as the opportunity of having him mentoring you in the Netherlands is unique.
If you want to see a short demonstration of what he can do for you – you have a chance to ask Jay Abraham one mission-critical question about your business. He will be available to answer your most important questions in a FREE Q&A webinar on 19 May. Enter your email here to learn how you can submit your inquiry. He is a true business master and he has a very specific process for the formulation of those mission-critical questions. You can use it to create your question and to self-assess your business, which is in itself extremely valuable. The process is entirely FREE too, of course.
How to Get the Most Out of Asking Critical Business Questions
The Art and Science of Asking (and Receiving) Great Business Questions That Focus
On The Real Driving Causes, Not The Perceived Effects
The group of 15-20 people will be selected among the ones who participate in the Q&A, so if you are serious about investing in your education and want to pick the brain of one of my most valuable mentors, you don’t want to miss this Q&A webinar (first) and unique live event in Amsterdam (later).
If you are not interested in Jay’s seminar, that’s totally fine. His mentoring is just not for everyone. However, If you want to keep on the path of self-education and get tons of valuable business lessons from me (and many more side benefits), come join us on BizKaizen for as little as €19.99/month. I made it a no-brainer for all and I am confident that it’s the best value-for-money option you can find out there to make that decisive first breakthrough that I showed you before.
Question for you
What was your best business lesson so far, and how did you learn it?
Leave a comment in the box below.
To your success,