Recorded Live at the 2022 Transformers Summit with Mike Searls, President of ThiN AiR Brand, a toy company. Mike is a serial entrepreneur and he brings his passion for reinvigorating businesses to this episode. His secret? Find out what works and do more of that, find out what doesn't work and stop doing that, the faster you can do that, the faster you grow.
Mike Searls, President at THiN AiR BrandShow Notes:
95% of companies never make it to 1 million dollars.
When business owners are unable to change or unwilling to change, they tend to stagnate, hit that glass ceiling, and they can't grow
In business, your job is to find out what works and do more of that, find out what doesn't work and stop doing that, the faster you can do that, the faster you grow.
Money makes you more of what you already are. So if you're a good operator, money can be great, but if you're not a good operator, money will make you an even worse operator
Most businesses have plenty of lead flow, but they don't have enough conversion
Find a problem, solve it, create a system around it, and then delegate it
Your goal in life as a business owner is to create systems and find people who are better than you
EOS (Entrepreneurial Operating System)- best results and buy in are from the employees
What do you want your life to look like? What do you want to accomplish? What do you want to build?
A lot of entrepreneurs feel like they're not successful or not achieving their total dreams. They're not in their passion job. You don't have to love the industry you're in to have passion for it, it develops over time. If you love building something and you love winning, you're in a great industry to do that.
Take the time to execute, and determine what you want to build, the love will come back
If you're finding yourself in a rut, you're just unable to get to that next level. Fix yourself and get your self-esteem back (health, family etc).
Start with your service, make sure you're offering world-class service. Then go to your sales, making sure you're selling it well so that you're getting more business. Third, work on your marketing, feed that marketing funnel, and then fourth, work on your operations.