How To Grow And Scale Your Business with Chris Guerriero, Business Advisor

How To Grow And Scale Your Business with Chris Guerriero, Business Advisor

April 6, 2021

So, you want to scale or grow your business. But where do you start? Chris Guerriero returns to the show to talk about his practical experience as to what drives business forward. He also discusses how to create a team that will be aligned with the company’s goals and builds business systems that support multimillion-dollar businesses.

About Chris Guerriero:

Chris Guerriero is a business advisor, mentor, board member, and investor for businesses and executives, who has grown teams, cultures, and business systems.

Factors to considers when growing a business

To grow your business, there are several important factors to consider. Here are some key aspects to keep in mind:

  1. Financial planning: Make an in-depth financial strategy with projections, cash flow management, and budgeting. Think about your financial options, your investing requirements, and any potential risks. If required, seek expert guidance.
  2. Scalable business model: Review whether your business model is scalable and capable of handling growth. Assess to determine if your resources, infrastructure, and processes can handle an increase in demand.
  3. Customer Satisfaction: Deliver excellent customer service and ensure customer satisfaction. Develop strong relationships with customers, be open to their opinions, and resolve any problems quickly. Positive customer experiences can lead to repeat business and positive word-of-mouth.
  4. Operational Efficiency: Streamline your processes to boost both productivity and effectiveness. Automate procedures when you can, put effective supply chain management in place, and keep an eye on important performance metrics. Keep looking for opportunities for improvement.
  5. Risk Management: Determine and control potential growth-related risks, such as operational, financial, and reputational risks. Implement risk-reduction measures, insurance policies, and contingency plans.

Keep in mind that growing a business is a dynamic process, and it’s critical to regularly evaluate and adjust your strategies based on feedback from the market and changing circumstances. If necessary, get guidance from consultants or business experts to improve your growth strategies.

On today’s podcast:

  • A process for handling obstacles – 2:07
  • Guerriero’s business investments  and main drivers for growth- 2:48
  • “My companies are built to fill my buckets for my life.” – 4:18
  • How do you know when you have the right person for you business? – 5:30
  • Core competency – 9:20
  • “The biggest obstacle in everybody’s life is lack of clarity.” – 10:48
  • An evolutionary journey – 14:10
  • Finding the right group of people working for your business – 17:00
  • The marriage of online and offline tactics – 18:44
  • Growing a business instead of searching for money – 23:41
  • The definition of happiness – 25:42
  • “The best thing you can do for your money is keep it where you understand it.” – 31:44
  • Process org charts – 35:17
  • Learning from numbers – 39:46
  • Finding the right people that take ownership- 41:40
  • Mentorships within businesses – 45:07
  • Mapping org charts – 46:07
  • Meetings run companies – 48:35
  • Communication in business – 58:55
  • Leave your ego at the door and ask for help – 1:06:32

Key Takeaways: 

  • A majority of businesses that failed because of Covid were in shock initially
  • The main thing that drives growth in business is people
  • Don’t judge people by what they think or say, only by what they do
  • If you put the right people together, then you’re not going to have an obstacle come up

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