I have spent the last 4 days at the fast forward summit in Perth with Roger James Hamilton who is a Futurist and Social Entrepreneur. He has also been my mentor for the past 2 years.
The summit started with Roger asking, ’how would your business look if you multiplied it by 100’. I couldn’t imagine how it would look. It was something I had never contemplated. I had thought about doubling my business, and over the years, I have been able to achieve that quite easily. But to 100x my business seemed far too ambitious.
He said it all starts with your vision because your vision equals value to customers, imagine being able to reach more customers and give 100x more value. How would that look like?
This really stretched my mind, he talked about looking at the industry your business was in and see who is disrupting it. It would seem, that the way to 100x your business is by becoming a disruptor.
He gave examples like Uber to the taxi industry and Airbnb to hospitality. My business is debt collection, how can I disrupt that industry with such big players as Dun and Bradstreet, Veda and the likes. If these big players haven’t come up with a way, how could I?
Roger talked about the power of zero and how just by adding a zero to your revenue each year you would effectively 100x your business in ten years. Seems simple enough. But, just thinking you can add a zero every year is not going to make it happen, you have to have vision.
Without vision, there is no mission, you need to visualise where you want to take your business, and that vision needs to have a very concise plan.
Getting concise about my business is something that will take diligence and a focused mind. Throughout the course of the conference, I came to fully understand that my industry has a victim mentality, a mentality that could not be easily changed. I also realised this may be an advantage to becoming a disruptor, by turning a negative around. That would be the way to disrupt the industry.
Finding a way that can easily solve the problem of debt! An age-old problem. A biblical solution is what is needed.
Basically, it comes down to finding a solution to the problems my customers are experiencing. I enjoy working with small businesses and helping them find a solution to their problem.
Over the years, I have seen many mistakes made by small businesses. I have created a program called the seven steps to credit risk control. My program helps customers solve some of their problems, by ensuring they have systems in place to prevent customers becoming debtors.
What if, together, we could come up with a way to be100% sure our customers had the money to pay before you started working for them. How would that change the way we did business? And would that disrupt the industry?