Quintuple your business in the next 12 months. If you want to scale from $20,000 per month to $100,000, there’s a four-step process you need to take.
Which may sound too simple, because the thought of quintupling business growth in under 12 months may sound impossible. I’m here to tell you it isn’t because I have done it myself (as well as helped clients do the same).
What does it take to make it in ecommerce? Tanner Larsson knows.
Tanner Larsson got his entrepreneurial start the usual way: He got thrown out of business school, took 10 years to complete his four-year degree, and then landed a job as a window cleaner. Just kidding.
Larsson’s entrée into the world of entrepreneurship is hardly usual, and neither are his more recent successes. In addition to running several successful ecommerce companies, writing an industry-rocking book (Ecommerce Evolved: The Essential Playbook to Build, Grow & Scale a Successful Ecommerce Business) and starting up the ecommerce world’s exclusive Black Label mastermind group, Larsson is also helping others achieve similar success through his ecommerce education company, Build Grow Scale.
To date, his students have earned well over $100 million in sales and counting. Here’s how Larsson became an unlikely ecommerce guru and how he’s helping his students do the same.
A judo-mindset reveals compelling strategic advantages normally ignored.
Startups are constantly searching for unique advantages to stay in front of competition and ensure long term success. Entrepreneurs often don’t realize that some of the best strategic advantages for startups may exist within the market leader’s greatest advantage.
When it comes to your business, studies show that 90 percent of all purchasing decisions are made subconsciously.
The human mind works in mysterious ways and leads us to do things that are not always rational. When it comes to your business, studies show that 90 percent of all purchasing decisions are made subconsciously. That means the single most motivator in buying is not data, but rather the emotional response you trigger.
Through my experiences at Rocket Internet and Stuart, I took part to scaling startups globally from one location to 25+ (Rocket’s appetite for growth :)). I decided to gather my thoughts on how to scale startups globally the right way, based on the successes and failures I experienced on this topic.
Don’t go too fast.
Take your presentations to the next level with the three key factors in effective storytelling as a sales strategy.
Stories, in the form of case studies, are vital in making your presentation interesting and personal; they also allow you to have tremendous momentum in connecting with your audience. Keeping an audience’s attention is one thing, but to really have them connect and engage in what you have to say requires great stories that tie back to your offer.
“Those who tell the stories rule the world.”
— Native American proverb
Needless to say, you should only use the best case studies, testimonials and stories for your presentation. But, what content is the most engaging and coherent to what you intend to propose?
It’s no secret that the main challenge for any high velocity sales process is to overcome the lack of face-to-face engagements. When most customer journeys take place digitally, companies are left with fast engagement opportunities and minimal room for error. Because an error in the online world is harder to fix than when you have a personal encounter. And these types of errors, mean that our audience will lose attention and we will lose them as a lead.
At Growthanomics I’ve learnt that an intimate and experiential sales and marketing approach leads to higher conversion rates. With a change of approach and point of view it is also possible to create these experiences in the digital sphere. Here are a few hands-on tips on how you can give your audience the experience that sells:
Hiroshi Mikitani is the CEO of Rakuten. If you’re not familiar with Rakuten, it’s like a Japanese Amazon carrying items from all over Asia. They earned $7.2 billion dollars in revenue in 2016. Part of Rakuten’s success comes from a business rule that Mikitani discovered called the Rule of three and 10.
“It’s that ticking clock,” he says about the decision to start a company. “If I don’t do this and someone else figures it out, I’m going to kick myself in the ass every day the rest of my life.”
He founded Roar Beverages, which had its first product, a sports drink catered to teens, by the next year. During that first year, the company was in an office “closet” in a Long Island town with its warehouse in the garage of Nesi’s parents’ home. He would deliver every account himself.
The holy grail of achievement for most startups is hyper-growth. However, if not managed correctly, hyper-growth can become a curse rather than a blessing.