Levers

Companies soar or struggle depending on their knowledge of what drives revenue and profits – their levers.

Entrepreneurs should know the fundamentals of their business, including their core customers, what those customers seek and why. Knowing this, you can give them what they want while earning a profit. By testing ideas, collecting the data and results, making adjustments, and experimenting again, you’ll find the levers that drive the business. Even though this approach comes with no guarantees, it offers the best chance, in the shortest amount of time, to find a formula for sustained success.

Create a repeatable framework for success by asking yourself five things about your business, and taking the time to find the answers – even though it might take years:

1. Who do I sell to? What do they want? Why do they want it?
2. How do I serve them and make money doing so?
3. How do I start, and what comes next?
4. Am I doing the right things? How do I know?
5. What’s the plan?

Learning the answers to these questions will take a while, but in the process, you build a common language...