You may have heard that I was on the tv show Undercover Billionaire.
And while I was there, I built a $5.5 million dollar business in just 90 days – with no money and no contacts.
I couldn’t use my name. I even had to shave my head so people wouldn’t recognize me.
To build a real business in 90 days is incredibly fast.
I was able to do it so quickly because I now understand business breakpoints.
The reality is, I could not have done what I did on the tv show back in the day. That’s because I didn’t know what I know now. And what I know now, is what you need to know now. That’s why I’m writing to you today.
Over the last 12 years, my business partner Brandon Dawson and I have researched well over 4,000 businesses.
And here’s what we discovered…
When it comes to scaling – there are 7 breakpoints that business owners hit on the way to $125 million and beyond.
If you don’t have the right elements in place, you’ll get snapped back every time you try to grow. Which is a massive waste of time, energy, and effort. This is so important that we’ve dedicated part of the upcoming 10X Business Boot Camp to do a deep dive on this subject.
So, I want to share with you what those phases are – and what the pitfalls are – so you can blast through to creating a business that creates more value for your family, and for your employees’ family too.
Look, the truth is you cannot skip the break points. You’re going to move 3 steps forward and get knocked 2 steps back.
But knowing what breakpoints you’ll be facing at each level can help you prepare in advance.
Here are the 7 phases and the critical business breakpoints that come with each…
Phase 1 – Startup
(Approximately $100K to $3M)
This is where most business owners are. At this stage, you’ve figured out the WHAT – what you’re going to sell.
But to move forward, you have to figure out how to create processes in your business…
Phase 2 – Procession Creation
(Approximately $3M – $8M)
In this phase, you’ll begin documenting everything you and your staff do. The idea is to be able to quickly replicate success. And to do that, you’ll need to build systems that replace you in your business.
Then you can move on to…
Phase 3 – Core Leadership
(Approximately $8M – $15M)
It’s time to leave the ‘manager’ in you behind. Your company will only get past around $15M if you’re able to develop a crystal clear vision. You need to develop true leadership – and the right culture in your business to support that vision.
Phase 4 – Automated Systems
(Approximately $15M – $25M)
In the Process Creation Phase, you began to create systems. But those were systems for people. If you want to get to the next level, you’ll need to master business automation.
And part of that is your leadership team…
Phase 5 – Executive Leadership
(Approximately $25M – $45M)
In this phase, you have to empower others to become leaders. That means trusting them to scale your business – without them losing your vision and culture.
This phase is “make or break” for most entrepreneurs who get here. It means letting go in a way that terrifies people. But it has to be done.
Otherwise, you’ll never reach the next phase…
Phase 6 – Integrated Technology Phase
(Approximately $45M – $75M)
At this stage, you’ll likely have hundreds of employees. And your leadership team will need to focus on tech that streamlines communication and workflow.
Ignore this and all you’ll have is a jumbled mess. If your team isn’t working well together, you’ll never break through.
Phase 7 – Platform Phase
(Approximately $75M – $125M)
Congrats, you made it. Now is the time when you’ll become more focused on strategic partnerships and acquisitions involving private equity. You’ll take what you’ve learned and apply it to other businesses.
And you’ll likely move towards going public – either your original company or a roll up of those you acquired.
So, those are the challenges you’ll face at each level.
Are you prepared?
If not, and you want to go deeper, I suggest you purchase one of the last remaining 10X Business Boot Camp tickets before they’re gone.
In 3 days, we’ll help you get set up for scale – to whatever level you dream of.
– Grant Cardone