People & Society
Two

Working with 7 figure business owners

7 figures is a big milestone and often when it is reached there can be a feeling of “what next” or “I am exhausted” or “let's sell the business".

Written by
Annamarie Champlin
on
May 31, 2022
. Last updated
June 1, 2022
.
Written by
Annamarie Champlin
on
May 31, 2022
. Last updated
June 1, 2022
.

I have been fortunate enough to work with business owners who are making 7 figure revenues reassessing their progress to date and helping them get clear over what next.

7 figures is a big milestone and often when it is reached there can be a feeling of “what next” or “I am exhausted” or “lets sell the business.

It has been my privilege to help them prepare for the next phase of growth through a perspective of wealth management, self improvement and business strategy.

In this short guide I will share some of these experiences and the approaches they have taken that have delivered incredible results. Not just financial but also their own personal growth and the happiness and joy they get from life in all areas.

The next phase of growth

If you’re not growing you’re dying. Growth is crucial to the long-term survival of your business. It helps you to acquire assets, attract new talent and fund investments. It also drives business performance and profit.

Growth will dictate the value of your business and if you are reading this you are someone that wants to find out the best way to grow value in their business fast- so you can create wealth, freedom and impact, enjoying your dream lifestyle.

Your level of ambition and your desire to reach it will dictate what you will do after you have read this short introduction to why your seven figure business is not where you want it to be.

This year I have already spoken with over 200 seven figure business owners in online retail, building supplies, printing equipment, software resellers, training and recruitment and foreign exchange businesses who all have different stories to tell, regrets and recriminations, successes and failures, triumphs and disasters. What they all had in common was:

Their business was not where they wanted it to be. They got stuck at a million dollars!

Mistakes in the past, wanting to always improve on what they have or just ready to sell but the business not being at the value they want to sell for, are all examples of this state of mind.

And we aren’t talking about the latest Fintech Unicorn, or the Series B stage blockchain development firm, in fact these terms will likely mean nothing to the kind of business I am referring to.

We are talking about businesses that have been trading for as long as 20 years, providing a good lifestyle for the owners but for a variety of reasons it has just got stuck.

The good news is, if this is you, you have a latent asset on your hands, a business with massive massive potential that just needs some different attention and new thinking so you can build value like private equity firms and larger corporations do.

If this is you, then go through the list below. How many of these points resonate with your situation past and present.

● You are still too involved in the business and never get to spend time with your family.

● Competition has slowly been stealing market share and customers and you don’t know what to do

● You feel like you are playing small and want access to faster proven growth strategies

● A key member of the team leaves and you can’t replace them forcing you to work even harder.

● Two bad months of trading leads to anxiety and a fear you will not be able to make payroll.

● Everytime you invest cash to support growth it feels like a gamble of your own earnings if the strategy delivers or not.

● You have a wake-up call when you realise your wealth management and retirement planning is predicated on the business being a lot more valuable and performing better than it is today.

Business owners like you are real heroes of mine, I have so much admiration for what you have achieved and I am excited for how you can leverage this basis of success, the precious asset that is your business today.

Anyone who has either taken on an existing family business, has had a great idea and backed themselves, persuaded friends and family to invest, secured money from a bank or been awarded a government grant to get started, filled a service or product need in the market, hired people into jobs and still making a profit….is worthy of my admiration.

They are the 48.9% that make it past 5 years. The survivors.

So why are some people able to create huge value businesses in under 3 years and others are breaking their back to get past $1 Million in 16 years?

There are a lot of coaches out there that will show you complicated frameworks, flywheels and matrices. Turning the art of business success into a complicated MBA programme. Mistakenly believing value is in sophistication and complexity as opposed to simplicity and ease of understanding.

The difference between 6 figure and 7 figure revenues is massive and will change your life but to get to 8 figures is transformational.

At 8 figures you should have the profitability to pay yourself a good annual income, and feel confident on your trajectory to deliver your wealth goals. You will be spending far less time working in operations, overseeing sales and marketing, production, supply chain management and instead be working with capital markets on investment plans, game-changing JVs and Partnerships and exit planning.

This is everything you ever wanted.

So how do you get there?

I work with my clients to help them build more value in their businesses quickly. Typically so they can sell up, get paid and live the dream lifestyle doing what they want to.

This can be increasing your profits and maximizing earnings as well as a direct pathway to a life-changing exit selling to a Private Equity firm or trade buyer.

I have seen it, along with my business partner as a business owner ourselves, investor, Private Equity operating partner and managing M&A for large corporates.

I know how to build valuable businesses and most importantly I know the support that business owners need….strategically, operationally……and emotionally to get to the holy grail of 8 figures and huge multiples at exit.

A business that is chaotic, unpredictable, and relies on hustle to generate customers and cash flow is not a good business: it is a big headache. Your ability to scale growth in a simple and precise way is the lifeblood of your business ... and your ticket to freedom.

I co-created this methodology of scaling fast and exiting rich called, “Scale To Sale”, which enables you to build a high-value, 8-figure business enabling you to step away from the chaos of managing day-to-day operations, the hustle of trying to grow one customer at a time, and getting stressed, overwhelmed and thus giving up.

Fast growth and scale is something anyone can learn and implement, without the time investment, complexity or over-thinking that many think is necessary. This is your guide to that knowledge and understanding required to feel happy with your business and a gateway to scaling fast and exiting rich. There are FIVE simple steps you can take NOW to improve your position immediately.

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