Want to build a fast-growth business? An expert explains the four aspects of your business you should be focusing on.
Business coach and consultant Jim Schleckser has spent years trying to understand how start-up and small business CEOs budget their time. Not suprisingly, the best CEOs–the ones that are able to grow highly-profitable, fast-growing companies–had a lot in common.
As part of the CEO Project, a boot camp for entrepreneurs, Schleckser advises CEOs and company founders on the most important areas of their business to focus on. At the core of his advice, Schleckser believes CEOs need to put the blinders on and focus on what truly drives growth. Here are the core components Schleckser says you should focus on.
“Time spent on your business model drives growth,” says Schleckser. Most importantly, CEOs should aim to increase the proportion of recurring revenue in their businesses
“Lock revenue each year,” he says. “And when you decide to sell your business, you’ll get higher offers.” [read]