Business Growth Engineering

Business Growth
Engineering
Growing your business is as much a science
as it is an art.

Growth comes in stages.
Idea → Action → Validation → Business

Here’s the thing about moving
from one stage to the next…
It can get crazy.
Idea Ideas!
Idea
Idea
Idea

but where do we go from the last
step?

You’ve already started a business.
That’s why you’re here now

We’re going to talk about growth in 2
parts:
Part I
Growing from an idea
Part II
Scaling your business

at the most basic level, you’re repeating
the same steps that you did when you
started your company

it’s no longer a linear process.

but do you notice a problem with
this cycle?

You’ve already started a business.
You’re working on building out how your value can be
delivered.
This requires a more involved process to ensure:
● Customer needs are still met
● The growth is always being optimized
● Despite any failure, you can build on what you’ve already created.

how can we adapt this to our needs?

We use the
Build - Measure - Learn framework

and the cycle now looks like this:

much better.
let’s take a look.

The Business Growth Cycle
1. When you have an idea, you
take at least one action.
2. That action needs to be
validated.
3. Once validated, the action must
be implemented across the
organization.
4. Once implemented, the new
offering needs to be measured
and optimized to ensure ROI
and product-market fit.

this is what we’re going to look at
more closely.

if you want to engineer growth,
you need to engineer this process
to fit your business and lifestyle.

If you’re an entrepreneur, ideas are a
dime a dozen
You need to qualify ideas intellectually and then get excited
about them.
Most people do the opposite, and in some cases forget to
qualify them altogether. These are usually the ideas that
either flop or have the founder lose interest quickly.

How do you qualify an idea?
You need to answer 3 questions:
1. How does this idea further my overall vision?
2. When will this idea start to financially support me
instead of me supporting it?
3. How will this idea increase my knowledge and
exploration of my areas of interest?

Ex: Mastermind Group
1. Gives me the relationships I need to enact change
2. Cash flow positive in 6 months
3. Gives me experience networking

Ex: Mastermind Group
1. Gives me the relationships I need to enact change
2. I’m not going to make money on it
3. Gives me experience networking

not making the cut on these 3
questions doesn’t mean it’s a bad idea.

it means it’s not as good as it can be.

Notice that none of these
questions ask about the company.

A good idea stands on its own.
Your business provides a launching pad.

Once you have your idea, you
need to ACT!

there’s a way to track down the
highest leverage
action you can take for an idea.

I’m going to show in just a
second.

but before I do, here’s my
forewarning.

you can’t rationally decide that an
idea is BAD in this stage. Thus,
you can’t rationally STOP
pursuing it while taking action.

it’s okay to jump ship in the idea
or validation stages, but in the
ACTION stage you’re simply
putting the pieces into place.

you’ve already qualified the idea,
now it’s time to execute.

Idea Statement: A 2-sentence description of
what your idea is and what it will take to
begin seeing it to fruition.

here’s your Idea Statement
template...

My idea is to change _____1______ by building
_____2____. To achieve this, I need to first learn
_____3______ and then find someone to _____4______.

My idea is to change _____1______ by building
_____2____. To achieve this, I need to first learn
_____3______ and then find someone to _____4______.
1. What are you going to change?
2. What will you build to change it?
3. What do you need to learn to build it?
4. Who do you need to work with to build it?

Each of these questions is an
action step for you to take.

This is how they translate into
actions:
1. What are you going to change? Research
2. What will you build to change it? Competition
3. What do you need to learn to build it? Technical
4. Who do you need to work with to build it? Partners

Take each action sequentially.
Move from 1-4.

When you feel that you’ve taken
sufficient action to be informed
enough to validate your idea, you
can move on.

To test your idea, you need to roll
out a pilot to one of two groups.
1. Your most loyal clients
2. Your target market

Use your clients if the product can
apply to them.

Otherwise find the target audience
and build a relationship with them
for the pilot.

What to do...
1. Explain what you’re trying to achieve and how they can
benefit.
2. Give it to them for free under the agreement that they
give you honest feedback
3. Provide the new service as you would a paying
customer
4. Provide opportunity for client feedback at EVERY step

How to measure feedback
Survey Monkey
Phone Calls
Emails
Google Forms

Once the pilot is over, review the
data.
1. Assemble positive comments and negative comments
2. Review what was best and worst about the pilot
3. Send them a final NPS (Net Promoter Score) survey

“On a scale of 1-10, how likely are
you to recommend this to a
friend?”
(seen this before?)

You won’t have much volume so
the data won’t be significant, but it
will give you an idea of who in the
pilot would pay money for it.

Take the average...
“On a scale of 1-10, how likely are
you to recommend this to a
friend?”
8-10 1-7
Implement! Fix/Scrap It

You have options now.
Beta → Beta 2.0 → Full Launch
Beta → Full Launch
Full Launch

It depends on the technical
requirements of scaling up the
new product/service

It also depends on if you need to
build a new audience or if you’re
appealing to your existing one.

If you’ve done everything right up
until this point…

Marketing is ready from the pilot
You know your margins
You have a track record & testimonials
Now it’s just a question of distribution...

So here’s where things get
exciting.

Once you implement and
distribute your new offering, you
can measure and optimize it going
forward.

First, find the top KPI’s for the
initiative you’re running...
Impression Metrics (Volume)
● How many people are seeing your product
Engagement Metrics (Conversions)
● How many people are expressing interest in your
product

First, find the top KPI’s for the
initiative you’re running...
Impression Metrics (Volume)
● Traffic, Time on Site, Bounce Rate, Open Rate, etc.
Engagement Metrics (Conversions)
● CTR, Conversion Rate, Upsell Rate, etc.

Second, prioritize them according to
your target benchmarks
Impression Metric Targets
● Traffic: 1,000 hits per day
● Time on Site: 2 minutes
● Bounce Rate: 50%
● Email Open Rate: 40%

Second, prioritize them according to
your target benchmarks
Engagement Metric Targets
● CTR: 15%
● Conversion Rate: 25%
● Upsell Rate: 40%

As you continue to measure these
KPI’s, the ones furthest from your
targets are the highest priority.

Ex: If traffic is way off from your
target, increase content marketing
efforts and your advertising
budget.

At this point, the
process is in a position
to repeat.
More ideas fuel the
evolution of
what you’ve already built.

But what if you don’t have an IDEA
but an urge to scale what you
already have?

Part II
Scaling Your Business

A business that’s ready to scale can
grow simply through more volume.
Many businesses, however, are not built to scale.
(Actually, most aren’t.)
Here’s what you need to know in order to create a
scalable business.

Hierarchy
of a Scalable
Business
Automation
Farm-ready
Cultural Buy-in
Standardized Procedures
Cash Flow Simplicity

Set up the following:
● Automatic invoicing
● Outsource accounts receivable collection (if
it’s a problem)
● Stable vendor contracts

● Standard operating procedures for repetitive
tasks
● Defined responsibilities for each person
● Defined workflows for each business process
● Integrated back-office software

Establish:
● A culture focused on growth
● Excitement for entering new markets and
making a bigger impact (and more money!)
Cultural Buy-in
Ideas…
Weekly brainstorms - Retreats - War rooms
Monthly in-office competitions - Bonuses & Incentives

● A network of freelancers and contractors
Farm-ready
● Send them your SOP’s using SweetProcess
● Manage projects with Trello or Basecamp
How to find a freelancer...
1. Use a reputable site (elance.com, freelancer.com, vworker.com, odesk.com)
2. Post a job and make it clear that you’re going to provide ongoing work (they prefer this)
3. Take applications and have them perform a test for their services (be willing to pay them for this-it’s
an investment that will pay off when you’ve found the right person)

Automation
Here’s what you need to do:
● Create an automated sales process (upcoming video)
● Route new orders
● Combine all human input into one step

Automation
Email from
prospect
Run Quote
Sales
Rep
Calls
Sales
Rep
Emails
Record in
CRM
Human processes
Computer processes

Prospect fills
out form
Notify Sales
Rep
Sales
Rep
Calls
Record In
CRM
Human processes
Run Quote
Computer processes
Automation

there’s always a delay with a
human process.

automation eliminates that delay

Automation
Farm-ready
Cultural Buy-in

once you make your way through
the hierarchy, the next step is to
push VOLUME!

A business that’s ready to scale
can grow simply through more
volume.

If you have a strong and loyal
audience...
Your best bet is to grow through your network.
Utilize the following:
● Social sharing
● Creative referral incentives (Dropbox)
● Competitions
● Partnerships with industry leaders

If you don’t have a strong or loyal
audience...
Your best bet is to create a network for yourself and
leverage it as it grows.
Utilize the following:
● Strong content marketing
● Competitions
● Forge relationships with industry leaders
● Hustle!

you should be advertising in both
of these situations.

the reason I don’t mention it in
these lists is because it’s useless
by itself.

advertising without content
marketing, competitions, etc.
(anything of value) leads to traffic
that’s dead before they reach your
landing page.

you wouldn’t throw a dinner party
when your house is still being
renovated.

why would you invite people to
your site when your backend
processes aren’t fully developed?

in closing…
Part I
Growing from an idea
Part II
Scaling your business

Don’t ever lose sight of why you
started your business.

There’s a reason successful serial
entrepreneurs have multiple
companies doing different things.
They knew when things were out of scope.
They didn’t get distracted.

Don’t grow in a direction that isn’t
sustainable for your company.
Idea Ideas!
Idea
Idea
Idea

You’re the one person who can
see where your business is
headed.

if you find these steps to be
helpful, then you’re going to enjoy
what I have coming up...

I’m opening up 20 spots in an
upcoming program to:
● Collaborate one-on-one and develop a personalized
growth strategy for your business
● Automate your entire sales cycle, from lead generation
to follow-up
● Architect a client relationship system that scales with
your business
● BONUS (10 available): I’ll help you validate your next
big idea

most people sit down and think...

“hmm… if only there were a
structured way to grow my
business”

“hmm… if only there were a
structured way to grow my
business - that I can afford!””

All of this...
● Collaborate one-on-one and develop a personalized
growth strategy for your business
● Automate your entire sales cycle, from lead generation
to follow-up
● Architect a client relationship system that scales with
your business
● BONUS (10 available): I’ll help you validate your next
big idea

Business Growth Engineering

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