As entrepreneurs, we all want to take our businesses to the next level and make a massive difference. However, many of us find ourselves caught in a pattern of “incrementalism.” Rather than big gains, we experience a frustrating and seemingly endless cycle of single-digit growth. The great news is that you are able to break that cycle and start generating 10x growth — exponential results that can catapult your business to a level of success you may never have thought possible.
Ditch Linear Thinking
Most companies and business owners think in a linear fashion. Linear thinking tends to be small and also focuses on step-by-step objectives:
- How are you able to squeeze a little more margin from your service?
- How are you able to cut a few extra expenses?
- How are you able to make this task a little more efficient?
Some instances of linear thinking:
- “Let’s establish a revenue target of 10% this year.”
- “We are able to save 5% by ordering two more days in advance.”
- “We are able to create a marketing campaign that will earn ROI of 20%.”
These are great goals for most organisations in the world. Rising revenue – as well as better margins – are never a bad thing. However, what if you didn’t need to settle for incremental improvements? What if you were able to think bigger and actually achieve bigger?
Establish Key Goals
Set out the key performance metrics which will measure your social investment. You’ll be required to determine your “why,” which is the thing that attracts individuals to you and makes them want you rather than someone else. Then, you’ll need to ask yourself: what specifically are you attempting to achieve? Whether it is more engagement on Instagram, more sales on a checkout page, more email addresses, or more attendees to an event, without having this goal, you won’t be able to achieve it.