$20M in Annual Revenue – Anik Singal, Lurn

$20M in Annual Revenue – Anik Singal, Lurn

August 29, 2018

Anik Singal is CEO/Owner of Lurn with $20 Million in Annual Revenue
As owner and CEO of Lurn, Anik has owned several outstanding companies. Listen in and find out what he has learned are the secrets to start and scale your company successfully.

About Anik Singal: 

BusinessWeek recognized him in the Top 3 of the Best U.S. Entrepreneurs Under 25. He’s an Inc500 CEO, listed twice among the Fastest Growing Companies in America.

Anik Singal is the founder and CEO of Lurn.com. He is widely considered, by the industry, as one of today’s most successful digital publishing marketers. Anik teaches people how to create their own online passion-based businesses. He guides them through his process to maximize profit and grow revenue and has trained over 250,000 students around the world.

Ways to maximize profit

Businesses can use various strategies to maximize profit, here are some of them:

  1. Boost Sales Revenue: Generating more sales is a direct way to boost profit. Businesses can achieve this by growing the customer base, launching new offerings, and improving marketing initiatives.
  2. Pricing strategy: A pricing strategy should be carefully considered in order to establish a balance between profit margins and customer satisfaction.
  3. Cost management: It’s important to manage costs effectively, which includes cutting costs, streamlining processes, and putting cost-cutting initiatives in place to maximize profit.
  4. Improve Operational Efficiency: It is crucial to increase operational effectiveness through automation and process simplification.
  5. Focus on Customer Retention: It is frequently less expensive to keep existing customers than to get new ones by providing excellent service and offering loyalty programs.
  6. Expand or Diversify: By entering new markets or providing complementary items, business development and diversification can also increase profitability.
  7. Strategic Partnerships: Strategic partnerships with other companies can grant access to markets and pooled resources.

These are just some of the ways to maximize the profit of a business. In the end, business must put an emphasis on moral and environmentally friendly activities to guarantee long-term success.

In this episode, Steve, Mary, Richard, and Anik discuss:

  • What initially attracted Anik to and what kept him attracted to digital marketing.
  • Lessons learned in building business and the perils that came with overcomplicating things.
  • His philosophy on building the company to serve, not building the company to sell.
  • The importance of who you are, not who or what you know.

Key Takeaways:

  • An entrepreneur finds a problem, solves the problem, and creates value.
  • Create value – do something that has an impact, not just something that makes money.
  • Keep it simple and don’t get greedy.
  • To start – get a sale – sell something – even if it’s yourself (consulting, advice, time, etc.). Get cash flow coming in.
  • Communication and relationships are the keys to scaling your company.
  • Learn and perfect your ability to drive traffic to your website.
  • Build in more products/services/offerings to increase your LTV (lifetime value).

“I realized that I was so busy chasing things that I didn’t understand that I started to ignore the stuff that had been making money.” — Anik Singal

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