3 Things A Business Must Do To Be Successful

The other week I had the privilege of having Greg Crabtree, the author of Simple Numbers, over to my house for dinner.

What I love about Greg is how he simplifies everything down to its core essence…

… or a farm analogy ;)

I absolutely love the way he teaches and tells stories.

He’s from Huntsville, Alabama and grew up on a chicken farm.

Actually, one of my favourite analogies he mentioned was…

“It’s like riding a wild pig off a cliff!”

He made this comment in reference to running your business at 5% net profit margins.

Definitely made me smile.

However, one of my favourite things he shared with us was his view on the purpose of a business.

It was so simple, yet so powerful.

So that’s what I wanted to share with you in this week’s video.

Greg argues that every business has to do these 3 things:

1. You need to create something the market wants.
2. You need to do it at a profit.
3. You need to tell the market about it.

So simple, eh?

Yet many entrepreneurs violate these key actions.

Some build businesses that don’t make a profit.

Others create products that nobody wants.

Or worse, they actually have a great business, built with a profitable business model…

… but they DON’T DO MARKETING??!!!!

That last one blows my mind.

(I’m looking at you… you know who you are!)

So that’s why I wanted to share these with you, with the hopes of having you re-prioritize your work to ensure you’re nailing all 3.

My mission in life is to help entrepreneurs profitably scale their businesses.

Greg’s 3 step formula makes this crystal clear what to work on.

Have an incredible day!

Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. (Get the free 3 videos to grow your business here.) He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter @danmartell for tweets that are actually awesome.

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