131 - How Big Is Your Business?
When owners of growing businesses get asked, “How big is your business?” they tend to answer in 4 predictable ways. Those common answers often come with a predictable set of problems they’re facing. Listen to this short to find out what problems you may be facing based on how you answer this question about your own business.
Show Notes
01:00 - Intro
01:45 - Measuring Based On Head Count
03:06 - Measuring Based On Sales
04:14 - Measuring Based On Service Area Or Locations
05:51 - Measuring Based On Profit Margin
Quotable Moments
“When you ask a business owner, ‘How big is your business?’ the measurement that they use to determine how big their business is says a lot about the problems they might be having.” — Khalil
“A good lesson for a lot of people is to hire when it's time to hire, not just because you want to be more successful and this is what you’re measuring success off of.”— Khalil
“Sometimes what you see is that one location is actually funding all of the other locations and they would be much more profitable if they just focused on the one location rather than going into multiple locations.” — Khalil
“What you're probably going to find in a growing business is that they may not have diversified well enough and they have one or two really big clients that are funding much of their success.” — Khalil
“When you ask yourself, “How big is your company?,” how do you answer? How do you measure success?” — Khalil
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