Episode 86: The Stages of a Business
Colin Sprake is a four-time best-selling author and mentor to well over 50,000 entrepreneurs!
Colin has built several different million dollar businesses within 6 months. He has over 30 years of business experience having come from the mining industry to building his own multi-million dollar businesses from the ground up.
A dedicated teacher, Colin is the Master Trainer at Make Your Mark Training and Consulting and is devoted to people achieving huge success in their businesses. His purpose is to assist business owners to dramatically improve the number of businesses that succeed. After all, failing businesses affect us all in negative ways.
Using decades of business experience, Colin speaks and trains on a wide variety of topics for corporations, organizations & associations. Colin Sprake is all about delivering what is required to achieve the desired result and holding you accountable for your own success.
What you’ll learn about in this episode:
- Colin reviews some of the recent episodes of MYM Your Business: The Brutal Truth and recaps some of the very important issues discussed during those episodes
- How most businesses start out on a shoestring budget and take the first steps to gain clients and clarify their messaging
- Why many businesses begin adding employees in their early stages of profitability as a way to grow their reach
- Why high six-figure and low seven-figure businesses begin looking to expand through office space and a physical presence
- Why a danger of hiring others to lead your million-dollar business is that they are often less diligent in managing expenses than you are
- Why it is important to manage your own expenses and not let your business success go to your head
- Why it is necessary to set a good example for your team because your team operates based on your own actions and behaviors
- Why it takes a different type of personality to grow a business from seven to eight figures than it took to found and grow the business initially
- Why a methodical, deliberate person will make better business decisions than a creative entrepreneur type
- Why the seven-figure mark is such a critical milestone for a business, and why you should be very careful when crossing that threshold
- Website: www.mymyourbusiness.com