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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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How to Grow Your Small Business summary
A 6-Part Strategy to Help Your Business Take Off
16 mins
Brief summary
Donald Miller's 'How to Grow Your Small Business' is a practical guide that provides useful insights and entrepreneurial skills to help you grow your small business and achieve success.
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How to Grow Your Small Business
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Your Cockpit - Leadership
Before a plane even takes off, the pilot knows where and when it’s meant to land. The cockpit of your small business is your leadership team, and you, like a pilot, should know where you want to end up. For a business, this means writing your Mission Statement.
Most Mission Statements are too vague. They end up plastered on a company’s website and forgotten. To be useful, your mission statement should be an actual mission, inviting your team into a story where they are a key character.
There are three components to a mission statement. The first is the goal itself. In a story, it’s always clear early on what needs to be accomplished. The dragon needs to be slayed, the thief caught, the villain stopped. You should set out three measurable economic goals that your team can rally around. Be specific. Specific goals give your team a clear objective, and lends your mission some traction.
Then, your mission statement should include a deadline. People are sometimes nervous to include fixed dates, but deadlines create urgency in your team. Ideally, the timeline shouldn’t be longer than two years.
Finally, your mission statement should include a purpose. This gives your mission stakes, and your team a reason why they should care in the first place.
Let’s look at an example for a newspaper.
“We will increase our subscriber base by 30 thousand, the number of advertisers by 30 percent, and our average client investment to $21 thousand within two years. Because good journalism can change the country.”
Notice the three parts to this mission statement: The three measurable goals, the timeline, and the purpose. Once you’ve written your mission statement, you should try to use it as often as possible. Put it on the wall. Read it at meetings. When your mission statement changes, mark the event with fanfare.
So, now your team knows where the plane is going. Let’s look at how to get there.
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What is How to Grow Your Small Business about?
How to Grow Your Small Business (2023) is your six-step flight plan to guide your business as it takes off. When Don Miller started to take his business to the next level, he realized no-one had written a reliable, step-by-step playbook for growth. Since then, his small home content business has expanded into a $20 million dollar company, so he wrote the book he wished he’d had.
How to Grow Your Small Business Review
How to Grow Your Small Business (2021) is a practical guide that provides valuable insights and strategies for entrepreneurs. Here's why this book is a worthwhile read:
- It offers real-life examples and case studies that illustrate effective techniques, making it highly actionable and relevant.
- With its emphasis on practicality and implementation, the book equips small business owners with the necessary tools to achieve growth and success.
- Written in a straightforward and accessible manner, the book avoids jargon and delivers information in a way that is engaging and easy to understand, ensuring an enjoyable reading experience.
Who should read How to Grow Your Small Business?
- Small Business Owners
- Entrepreneurs
- Anyone who spends too much time putting out fires in their business
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How to Grow Your Small Business FAQs
What is the main message of How to Grow Your Small Business?
The main message of How to Grow Your Small Business is to provide practical strategies for achieving business growth and success.
How long does it take to read How to Grow Your Small Business?
The reading time for How to Grow Your Small Business varies depending on the reader's speed. However, the Blinkist summary can be read in just 15 minutes.
Is How to Grow Your Small Business a good book? Is it worth reading?
How to Grow Your Small Business is a valuable read for entrepreneurs and small business owners. It offers practical insights and actionable strategies for business growth.
Who is the author of How to Grow Your Small Business?
The author of How to Grow Your Small Business is Donald Miller.
What to read after How to Grow Your Small Business?
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