Happy Saturday — a note (again) on growing… there IS a right & wrong way.

I’ve mastered both and much prefer the former.

After my livestream yesterday, (in the free resource group) I felt it appropriate to talk more about the “20 Mile March.”

Jim Collins writes:

“The 20 Mile March creates two types of self-imposed discomfort:
1️⃣ the discomfort of unwavering commitment to high performance in difficult conditions, and
2️⃣ the discomfort of holding back in good conditions.”

Someone yesterday posted somewhere (I don’t remember where and it doesn’t matter) something along the lines of “under $100k/mo NOTHING else matters besides sales & marketing.”

This language and accompanying philosophy came from me, I admit. That’s how I know it’s wrong; it has since been revised.

You will see people of varying degrees of success touting their “success strategies” across the internet — but most of them are razzle dazzle “speed” focused and will fill your bank account up today for quick depletion tomorrow.

This is why, in almost every case, someone going from $20k/mo to $500k/mo in a period of 4 months is a terrible idea.

It will often fill their accounts and their egos at the expense of their reputations. Notice I’m saying “almost every case,” not a rule of law.

When you grow too quickly, you end up cutting corners in strategic places because you have to.

I’ve spoken often about this and will keep on going: your reputation is more important than your P&L because it supersedes it.

I study, buy, consult and build companies for a living. This is what I do every day. I have seen the most competent and talented business owners fail because they became addicted to the short term drip of quick profits.

I’ve seen average owners excel and SURPASS more talented competitors because they were disciplined, methodical & strategic.

Over TIME, everything internal is exposed and you must prioritize the actual health of a thing (not just the marketing of the thing).

How do we do this?

✅ design actual systems for clients to use

✅ one marketing asset at a time

✅ methodical testing so we know data to make accurate decisions

✅ proper culture so your teams can rest & ENJOY being a part

Etc - we could go on all day here.

Like I said I know *every* way to do it all WRONG. I’ve built 8 of these big guys in the last 8 years and you learn so much when things grow as fast as I’m used to them growing.

But now, I’m absolutely loving growing this organization slow. Not because we can’t grow it faster — but because it’s perfect. Excellent oh every level. Zero quality gaps. NO cut corners anywhere.

Healthy culture. Etcetera…

Aim to model THIS (not just the marketing but the spirit behind it — the whole energy is different).

Another from Jim Collins:

“If you deplete your resources, run yourself to exhaustion, and then get caught at the wrong moment by an external shock, you can be in serious trouble.
By sticking with your 20 Mile March, you reduce the chances of getting crippled by a big, unexpected shock.
Every 10X winner pulled further ahead of its less successful comparison company during turbulent times. Ferocious instability favors the 20 Mile Marchers.
This is when they really shine.”
Pace yourself.

Write often.

Read great material (the memos qualify).

Slow down and practice gratitude every day at least once a day.

Commit to your clients (NOT for their money but for their families, their mission, their future).

I’ll help you build something that LASTS…

You know how to get in touch 😉

And, PS, and of next week we will likely begin pushing clients to August. That’s how we roll.

Love you guys and hope this was helpful way to start your weekend.

-T

P.S. My offices just published a new training — it goes into further detail regarding the “system” component for creating wealth out of consulting.

It’s free — watch it at go.welchequities.com/learn

07.09.22 - Twenty Mile March