💰 Building a $100,000,000+ Company

As Entrepreneurs, we often start out as the “Chief Everything Officer”, wearing every hat in the business.

Growing a business is much like a thrilling novel with its ups, downs, and twists. 

As the protagonist of this story, your role evolves with each chapter. In the early stages, you’re the doer—The one-person army forging ahead. 

But as the plot thickens and the stakes increase, your role must shift from being the soldier on the frontline to the general strategizing the moves.

Now, if you're focused, have a clear vision, and are determined to make a positive impact in your industry, building a 7-figure company with minimal resources isn't too difficult (if you know how to create leverage and optimize).

But here’s where things change…

If you decide to scale from 7 to 8-figures, you need much more than just a keen eye for strategy and a robust work ethic —You need a solid team.

You need to assemble a group of incredibly skilled individuals who are as committed to your vision as you are.

For example, let’s say you're a successful 7-figure lawyer aiming to scale to 8-figures by launching your own law firm. You might need to hire a…

• Marketing Strategist: To attract more clients and establish a strong brand in the competitive legal landscape.
• Practice Manager: Someone who can handle the day-to-day operations of your firm, ensuring processes run smoothly and your clients receive outstanding service.

• Legal Assistant: They can manage appointments, handle paperwork, and ensure the office operates efficiently, allowing you and your legal team to focus on what you do best…Etc.

Each of these roles is like creating a mosaic—Each piece, no matter how big or small, is vital to the overall picture. It's about recognizing the strengths of each individual and placing them where they can contribute the most.

The simple truth? Leverage is your best friend.

It's easy to fall into the trap of wanting to do everything yourself to save a few dollars on salary…But this approach has hidden costs.

It steals your focus from growing the business because you're too busy running it.

Now let’s talk about scaling from 8 to 9-figures.

Going from $10,000,000 to $100,000,000+ demands something more—It calls for a transformation in leadership.

Transitioning to a team-centered culture is the key here. 

It's not about having employees and bosses; it's about building a team united towards a common goal. This shift not only bridges the divide but creates a conducive environment for collective growth.

You see, at this stage, your leadership should focus on amplifying the strengths of your team, creating a culture that encourages growth, innovation, and shared success. 

It's about stepping back from the day-to-day operations and looking at the bigger picture—Strategizing for long-term wins, identifying new market opportunities, and ensuring that your company culture is one that breeds innovation and encourages continual learning.

One of the crucial lessons I learned on this journey is the importance of fostering a culture where every team member feels valued and empowered.

So over time, I’ve moved away from the broken 'boss-employee' hierarchy to a more collaborative 'team' approach. 

Because when each member feels like a crucial part of the whole, the energy, creativity, and commitment they bring to the table are unparalleled.

This reminds me of a story from my earlier days in corporate America…

Back when I was building a new division for a packaging company called Fabri-Kal, I decided to take a walk around our plant up in Hazleton, PA.

I chatted with a group of workers who were stationed along a conveyor belt, packing containers into plastic bags. They inspected each container as they were coming off the line at high speed, sealed the bags, and prepared them for shipment.

During our conversation, one worker said, "Well David, my job isn't really that important compared to yours."

Curious, I asked, "Why would you say that?"

She replied, "Well, you're building the whole division...My job is just to pack cups."

To say I was thrown off guard would be an understatement.

I mean, here I am, standing among the hardworking backbone of our company, hearing one of them downplay the significance of her role.

So, I looked at her and said:

"Let me tell you something…If you don't inspect the product and our quality drops, we lose customers. If we lose customers our reputation takes a hit, then I can't grow the company. So, in reality, YOU have the MOST IMPORTANT job!”

You should have seen the change in her demeanor. A broad smile spread across her face as she digested what I'd just said.

The following day, I brought a very large prospective client to tour our manufacturing plant. The same worker was there, this time beaming with pride. 

Her and her co-workers' interaction with the client was genuine and enthusiastic. It was clear that our earlier conversation really impacted her perception of her role within the company.

The prospect, needless to say, was thoroughly impressed (and did sign a multi-million dollar deal). 

Her passion and commitment was undeniable. Her interaction with the client showcased not just the importance of their role, but also the collective spirit of our entire team.

So…How can YOU instill a culture of recognition in your business?

Well, today at Business Nitrogen, we do this through our SNAPS award. 

During our Monday morning meetings, (after some lively music and dance), we go around appreciating those who went above and beyond for others in the week prior (aka giving SNAPS). 

It's a simple, yet powerful way of acknowledging effort and fostering a culture of excellence.

But it doesn’t end there.

To climb the ladder of growth, we must transition from being leaders to creating leaders.

Sounds paradoxical, right? 

But this is where the magic lies. Encourage team members to lead, take ownership, and nurture others. This is how you build a culture where leadership is a shared responsibility, NOT a solitary burden.

So, as you step into this new week, I challenge you to reflect and ask yourself:

• How are you leveraging your team's potential to push your business forward?
• Are you merely running the day-to-day, or are you leading with vision and empowering others to lead as well?

To your success,

David

P.S. If you need help finding your next superstar A-Player, here’s something worth watching… A special presentation I did for my Inner Circle Group… Where I reveal our exact blueprint on how we attract, qualify, and hire only high-performing talent for teams. Nitrogen Hiring Network BluePrint. 

Nitrogen Hiring Network is the go-to solution for Entrepreneurs–Taking the guesswork out of hiring the right people the first time, so you can grow your business bigger, faster.