WWR Article Summary (tl;dr) In their new book, ‘Pulling Profits Out of a Hat: Adding Zeros to Your Company Isn’t Magic’, Brad Sugars and Monte Wyatt share how to achieve sustainable, exponential growth within your business.
Do you ever feel like you’re banging your head against the wall, trying to figure out that special sauce to make your business bloom?
As business coaches, Brad Sugars and Monte Wyatt point out, “Well-run and successful businesses seem to operate as if by magic-but few people see the enormous amount of hard work that goes on behind the scenes to create that illusion.”
In their new book ‘Pulling Profits Out of a Hat: Adding Zeros to Your Company Isn’t Magic,’ Sugars, the Founder and Chairman of ActionCOACH, the world’s number one business coaching firm and Wyatt, one of the top coaches in ActionCoach, lay out a plan for those who may be struggling to expand, grow or in some cases just launch their business.
They show that while business magic may appear dazzling, it is the result of discipline, measurability and accountability in every area of your company.
Their theory is based on five business disciplines that need to be addressed in order to flourish.
1) People- The discipline of people “adds zeros” through employee engagement and retention. If your employees say “I can’t do that, that’s not my job, they don’t pay me enough to do that”, you can’t necessarily blame them for a lack of engagement if you haven’t inspired them, trained them and developed them.
2) Strategy– Strategy is about creating momentum for the future, which is seeing where future desire and demand are headed and developing additional product lines to take advantage of those opportunities. It’s thinking long term and big picture about what will make you incredible for a long time.
3) Execution- The discipline of execution adds zeros through efficiency and effectiveness. Don’t lose business because it lacks consistent processes that ensure that all servers satisfy customers every time.
4) Mindset-Every company needs to be clear about why they are here on earth.
5) Business Development-The discipline of business development adds zeros through customer acquisition and retention. Business development is about attracting the right client, servicing the right client and having high client retention through great customer satisfaction and loyalty.
Sugars and Wyatt say that by focusing on these disciplines, your business can achieve exponential growth with greater employee engagement, client retention and increased profits.
The book is about more than just ensuring that your business operates in the black. It reads as sort of an interactive manual with Q&A sections and informative guides so you can get down to the bottom of what is and isn’t working in your business.
The book also outlines actionable steps you can take to achieve goals annually and quarterly.
“Pulling Profits Out of a Hat: Adding Zeros to Your Company Isn’t Magic’ is available wherever fine books are sold.
For More information:
Facebook – https://www.facebook.com/BradleySugars
Instagram – https://www.instagram.com/bradleysugars
Twitter – https://twitter.com/BradSugars
Twitter – https://twitter.com/coachmonte
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