Podcasts > Growth Stacking Show with Dan Martell > You Can Transform Your Business in 90 Days, Here's How

You Can Transform Your Business in 90 Days, Here's How

By Dan Martell

In this episode of the Growth Stacking Show with Dan Martell, the host shares valuable strategies for transforming your business in just 90 days. He stresses the importance of meticulously tracking your time, increasing prices to attract higher-quality clients, and consistently creating content to engage your audience.

Dan also provides insights on hiring and delegation, including overcoming mental barriers to assistance and developing thorough onboarding processes. He discusses competitive analysis techniques like "funnel hacking" and emphasizes the need for systemization and scalability through documented processes and performance tracking.

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You Can Transform Your Business in 90 Days, Here's How

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You Can Transform Your Business in 90 Days, Here's How

1-Page Summary

Personal Productivity and Time Management

Dan Martell recommends meticulously tracking how you spend your time every 15 minutes. Categorize activities as energy-giving, draining, or neutral and assign dollar values based on business importance. Plan your "perfect week" by scheduling high-value, energy-boosting tasks together, following your natural energy cycles.

Hire an assistant to manage your calendar and emails, protecting your focus. Thoroughly schedule your day to achieve success and high productivity.

Pricing and Profitability

Increase prices by 30-40% without losing clients, as higher-paying clients tend to be easier to work with. Price confidently by factoring in your hiring costs, profit margins, knowledge, relationships, and resources - regardless of feeling "worthy."

Marketing and Audience Engagement

Build your brand daily by highlighting your expertise to reach more customers. Quality content can boost visibility even with a small following. Proactively engage your audience on social media to uncover opportunities.

Hiring and Delegation

Overcome the "not worth an assistant" mindset. Hire help to reclaim time and amplify productivity. Share processes, templates, and preferences via a comprehensive SOP for seamless assistant onboarding.

Competitive Analysis and Strategy Implementation

Learn competitors' sales funnels, marketing, and pricing through "funnel hacking" - secretly shopping their business. Modify strategies only after achieving similar results by emulating proven plans.

Systemization and Scalability

Document core processes like marketing, sales, and service in playbooks, checklists, and templates for consistency. Use "sensors" like reports to track performance and quality, maintaining process integrity.

1-Page Summary

Additional Materials

Counterarguments

  • Meticulously tracking time every 15 minutes may not be feasible or productive for everyone, as it can be overly rigid and interrupt the flow of work.
  • Planning a "perfect week" assumes a level of predictability in one's schedule that may not exist for all professions or individuals.
  • Hiring an assistant is not always financially viable for small businesses or solopreneurs.
  • Increasing prices by 30-40% could potentially alienate existing clients or price out certain market segments.
  • Confidence in pricing should also consider market rates and customer perceived value, not just internal factors like costs and knowledge.
  • Building a brand daily requires a significant time investment and may not be practical for business owners with limited time resources.
  • Quality content does not guarantee increased visibility without a strategic marketing plan and understanding of platform algorithms.
  • Proactive social media engagement requires a nuanced approach to avoid appearing spammy or insincere.
  • Hiring help assumes that the cost of hiring will be offset by the increased productivity and revenue generated, which may not always be the case.
  • Comprehensive SOPs are useful, but they must be regularly updated to remain relevant and can be time-consuming to create.
  • "Funnel hacking" may not yield actionable insights if the competitor's business model or customer base is significantly different.
  • Emulating proven plans does not guarantee success due to differences in execution, brand, and market conditions.
  • Documenting core processes is important, but over-reliance on rigid systems can stifle creativity and adaptability.
  • Using reports as "sensors" is valuable, but data must be interpreted correctly and within context to be truly useful.

Actionables

  • You can refine your time-tracking by using a gamification app that rewards you for sticking to your 15-minute scheduling blocks, turning productivity into a fun challenge.
    • Gamification can make the process of meticulous time management more engaging. For example, you could earn points for each completed task or block of time that you can later exchange for small rewards, like a coffee or an extra break, incentivizing you to stay on track with your schedule.
  • Develop a habit-building challenge with friends or colleagues to integrate high-value tasks into your daily routine.
    • By creating a 30-day challenge where you and your peers commit to scheduling and completing at least one high-value, energy-boosting task each day, you can hold each other accountable and share experiences. This social aspect can provide motivation and a support network to help solidify these habits.
  • Create a personal "process improvement day" each month to refine your SOPs and playbooks based on what's working and what's not.
    • Dedicate one day every month to review and update your standard operating procedures and playbooks. This could involve analyzing tasks that took longer than expected, identifying new shortcuts or tools you've started using, or incorporating feedback from others who follow your processes. This continuous improvement ensures your methods stay efficient and effective.

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You Can Transform Your Business in 90 Days, Here's How

Personal Productivity and Time Management

Effective time management is crucial for maximizing productivity and Dan Martell offers insights on how to optimize the use of one's time and energy.

Audit Your Time and Energy Usage

Track Activities Every 15 Minutes; Categorize As Energy-Giving, Draining, or Neutral. Score From $1 to $4 Based On Business Importance

Martell emphasizes the importance of being mindful of how one spends their time on a granular level. He advises setting a timer to go off every 15 minutes and journaling exactly what you are doing, whether it is aimlessly scrolling on social media or engaging in a valuable conversation.

After tracking your activities, Martell suggests creating two columns: one for energy and one for value. Categorize each activity as energy-giving, draining, or neutral, using colors green for energy-giving, red for draining, and yellow for neutral activities. Assign a monetary value from $1 to $4 to each activity according to their importance to business or personal success, with $1 being lower value tasks like administrative chores, and $4 being high-value tasks such as strategy creation.

The objective is to identify and focus on activities that boost energy and are of high value, while finding ways to delegate or eliminate tasks that are low in value and drain energy.

Schedule a "Perfect Week" By Prioritizing High-Value, Energy-Boosting Activities

Block Similar Tasks For Focus; Organize Schedule by Energy Cycles to Maximize Productivity

Martell advises that once the productivity-draining and energy-consuming activities have been identified, the next step is to plan for a "perfect week". Organize these high-value, energy-boosting tasks in the calendar together to maintain focus and maximize energy levels. He suggests adjusting the calendar based on personal energy cycles, placing meetings when energy normally dips, and scheduling high-value creative work during personal peaks of energy.

By emphasizing the importance of batching similar tasks for better focus, Martell also advises to organize the schedule by energy cycles in order to m ...

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Personal Productivity and Time Management

Additional Materials

Counterarguments

  • Tracking activities every 15 minutes may be too disruptive for some people, breaking their flow and reducing overall productivity.
  • Assigning monetary values to tasks might not accurately reflect the true importance or impact of an activity, especially for non-business related tasks.
  • The color-coding system for energy levels might oversimplify the complexity of how activities affect different people.
  • The concept of a "perfect week" may be unrealistic, as unexpected events and tasks can disrupt even the most well-planned schedules.
  • Batching similar tasks might not be effective for individuals who thrive on variety or those who have jobs that require constant context switching.
  • Organizing schedules strictly by energy cycles may not be feasible for everyone, especially those with rigid work hours or external commitments.
  • Hiring an assistant is not a viable option for everyone due to financial constraints or the nature of their work.
  • Delegating calendar and inbox management assumes that ...

Actionables

  • You can gamify your task management by creating a personal points system where you earn points for completing high-value, energy-boosting activities. For example, finishing a project proposal might earn you 5 points, while attending a less critical meeting might only earn you 1 point. At the end of the week, reward yourself based on the points accumulated to encourage a focus on valuable tasks.
  • Develop a habit of weekly personal reflection sessions to assess which activities were most and least beneficial to your energy and productivity. Use a journal to note down observations and make adjustments for the upcoming week, such as deciding to turn down certain types of engagements or to invest more time in activities that have proven to be energizing and valuable. ...

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You Can Transform Your Business in 90 Days, Here's How

Pricing and Profitability

Martell advocates adjusting business models in favor of increased profitability by focusing on value-based pricing and including costs related to hiring and profit margins in price determinations.

Raise Prices to Align With Value and Worth

Raise Prices by 30-40% Without Losing Clients; Higher Pay Often Means Easier Clients

Martell talks about the importance of raising prices to reflect the value and worth of the services offered. He suggests businesses should review and potentially raise their prices every six months. This would include adjusting packages, plans, and capitalizing on upselling opportunities. Moreover, Martell posits that businesses could increase their prices by 30-40% without losing customers, emphasizing that clients who are willing to pay more are often easier to work with.

Charge For Hiring Costs and Profit

Value Knowledge, Relationships, and Resources; Price Confidently Regardless Of Feeling "Worthy."

Martell poses a critical question to business owners, asking them to consider what they would need to charge to hire someone else to do their work and still ...

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Pricing and Profitability

Additional Materials

Counterarguments

  • Raising prices by 30-40% might not be feasible for all businesses, especially in competitive markets where price sensitivity is high.
  • Increasing prices significantly could lead to customer attrition if the perceived value does not match the new price point.
  • Regularly raising prices every six months could alienate loyal customers who may feel they are being taken advantage of.
  • Upselling opportunities should be approached with caution to avoid appearing pushy or greedy, which could damage customer relationships.
  • Higher-paying clients might have higher expectations, which could lead to increased pressure and demand for premium service, potentially offsetting the benefits of easier client management.
  • Charging for hiring costs and profit needs to be balanced with market rates to remain competitive.
  • Not all businesses may have the brand strength or market position to price confidently without considering competitors' pricing strategies.
  • The value of knowledge, relationships, and resources can be subjective and may not always justify a higher price poin ...

Actionables

  • You can create a personal value ledger to track the non-monetary worth you bring to projects or services. Start by listing the skills, knowledge, and relationships you contribute to each task or service you provide. Assign a value to these contributions based on the time saved, the quality improved, or the revenue generated for clients or your business. This ledger will help you visualize your added value and can be a reference point when setting prices.
  • Experiment with a 'reverse expense tracking' method to understand the true cost of your services. Instead of only tracking what you spend, also track the time and resources you invest in delivering your services. Include time spent on research, communication, and any other indirect activities. By understanding these hidden costs, you can adjust your pricing to ensure they're covered and that you're also compensated for your expertise and relationships.
  • Develop a 'future investment pricing model' for your next project ...

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You Can Transform Your Business in 90 Days, Here's How

Marketing and Audience Engagement

Martell emphasizes strategies for brand growth through consistent content creation and proactive audience engagement.

Build Your Brand Daily to Reach Customers

Highlight Your Expertise or Offerings. Use Algorithms to Boost Visibility With a Small Following

Martell advises that businesses should create content daily to build their brand and reach customers. Daily content creation has been critical in his experience, where he saw growth to 3 million subscribers across platforms in just 18 months. Each piece of content should highlight the business's expertise or offerings, as it reinforces the brand's message and drives revenue.

Despite a small following, there is an opportunity to go viral and reach millions with quality content. Martell recommends posting a reel every day on social media pages that showcase what the brand wants to be known for. Improving the quality of content can be more impactful than the sheer number of followers in boosting visibility.

Engage With Your Audience By Initiating Conversations

Connect With Followers on Social Media, Email, and Other Channels to Uncover Business Opportunities

Rather than waiting for followers to engage, Martell underscores the importance of initiating conversations with the audience on platforms like Instagram, Twitter, and TikTok. This proact ...

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Marketing and Audience Engagement

Additional Materials

Counterarguments

  • Daily content creation can lead to burnout and may sacrifice quality for quantity.
  • Not all brands may benefit from daily content due to niche markets or audience preferences.
  • Virality is unpredictable and focusing solely on going viral can detract from building a sustainable brand presence.
  • Quality content requires resources and skills that not all businesses may have access to, especially small businesses or startups.
  • The effectiveness of engaging with audiences can vary depending on the industry and the nature of the product or service.
  • Initiating conversations with followers can be time-consuming and may not always lead to sales opportunities.
  • Examining followers' profiles and initiating conversations may r ...

Actionables

  • You can set up a content brainstorming session with friends to generate fresh ideas that resonate with your brand's values. Gather a small group of friends or acquaintances and ask them to share their perspectives on topics related to your brand. This can lead to unique content ideas that you might not have thought of on your own, ensuring that your daily posts are not only consistent but also diverse and engaging.
  • Start a "reaction diary" where you note down your responses to viral content you encounter. By tracking what makes you stop and engage with certain posts, you can identify patterns and elements that make content shareable. Use these insights to inform the creation of your own content, aiming to incorporate similar triggers that could increase the chances of your posts going viral.
  • Create a "follower spotlight" feature where you highlight a fol ...

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You Can Transform Your Business in 90 Days, Here's How

Hiring and Delegation

Entrepreneurs often struggle with the decision to hire assistance due to concerns about affordability and value. Martell addresses this challenge by advocating for the engagement of an assistant to enhance productivity and accountability.

Overcome the "Not Worth an Assistant" Mindset

Recognize Overpayment and Inefficiency; Delegate to an Assistant For Productivity

Martell confronts the issue where entrepreneurs feel unable to afford hiring help because they might not be charging enough for their services. He contends that hiring help is essential to reclaim one's time and suggests that profit generated is the key to making this viable. He notes even high-level team members, like his creative director, Sam, delay hiring an executive assistant. Sam felt he didn't need help since he was young and adept at handling his workload. Martell counters, insisting that this mindset hampers effectiveness and that an assistant could significantly raise efficiency and productivity.

Martell argues that a significant constraint to business expansion is the entrepreneur's limited time. Hiring an executive assistant, he claims, is a strategic move to amplify productivity and manage time more effectively.

Comprehensive Sop for Smooth Onboarding and Effective Support

Share Pro ...

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Hiring and Delegation

Additional Materials

Counterarguments

  • Hiring an assistant may not always enhance productivity if the entrepreneur lacks the skills to manage or delegate effectively.
  • The initial cost and time investment in hiring and training an assistant could be a barrier for very small businesses or startups.
  • Some entrepreneurs may thrive in a hands-on role and find that delegating tasks diminishes their connection to their business.
  • Not all tasks can be effectively delegated to an assistant, especially those requiring specialized knowledge or personal touch.
  • The assumption that not charging enough is the reason entrepreneurs can't afford help overlooks other financial challenges or business model issues.
  • Implementing a comprehensive SOP is resource-intensive and may not be practical for all businesses, especially those with a rapidly changing environment.
  • An SOP might restrict the flexibility and creativity of an assistant who could otherwise find more efficient or innovative ways to complete tasks.
  • The effectiveness of an assistant is not solely dependent on SO ...

Actionables

  • You can assess your service pricing by conducting a market analysis to ensure you're not undervaluing your offerings. Start by researching competitors' pricing for similar services and adjust your rates accordingly. This will help you generate more profit, which can be allocated to hiring assistance.
  • Develop a task audit system to identify activities that can be delegated to an assistant. Over the course of a week, track all your tasks and categorize them into those that require your expertise and those that could be handled by someone else. This will clarify the potential impact an assistant could have on your productivity.
  • Create a personalized onboarding kit for any new team member ...

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You Can Transform Your Business in 90 Days, Here's How

Competitive Analysis and Strategy Implementation

In the realm of business strategy, one critical approach involves closely analyzing the strategies and tactics of larger, more successful competitors.

Model Successful Strategies and Tactics of Larger Competitors

In order to gain insights into the competition, it is suggested that businesses engage in "funnel hacking." This involves secretly shopping competitors, especially those significantly larger in size, to glean comprehensive knowledge about their operations.

Secretly Shop Competitors to Learn Their Sales Funnels, Marketing, and Pricing

The process of funnel hacking includes reaching out to or engaging with your competitors to understand how they manage to sell effectively. Through this covert research, you can learn intricate details about their business model, how they run advertisements, their sales strategies, the specific offers they put forward, and their pricing structures.

Modify Strategies Only After Achieving Similar Results

The key to successful implementation of these findings is to modify your own strategies in a deliberate manner. The advice is to first learn ...

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Competitive Analysis and Strategy Implementation

Additional Materials

Counterarguments

  • "Funnel hacking" may raise ethical concerns about intellectual property and privacy.
  • Secretly shopping competitors could be seen as deceptive and might damage relationships if discovered.
  • Emulating larger competitors doesn't guarantee success due to differences in resources, brand recognition, and customer loyalty.
  • Larger competitors' strategies may not be fully applicable to smaller businesses with different value propositions.
  • Relying too heavily on competitors' strategies can stifle innovation and prevent a company from developing a unique competitive edge.
  • Market conditions change, and what works for a competitor today might not work tomorrow, making it risky to foll ...

Actionables

  • Create a competitor comparison chart to identify unique value propositions. Start by listing the key features and benefits of your product or service alongside those of your competitors. This will help you see where you can differentiate and improve. For example, if you sell handmade soaps, compare your ingredients, scents, packaging, and prices with those of larger competitors to find your unique angle, like an eco-friendly or locally sourced component they might not offer.
  • Develop a customer feedback loop for continuous improvement. Use surveys, social media polls, or direct customer interviews to gather insights on what your target audience likes about your competitors' offerings. Then, integrate this feedback into your own product development or service enhancement. If you run a small café, for instance, ask patrons what they enjoy about other local coffee shops and consider how you can incorporate those elements into your own business without copying them directly.
  • Implement ...

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You Can Transform Your Business in 90 Days, Here's How

Systemization and Scalability

Dan Martell stresses the significance of implementing systems to effectively scale a business, succinctly captured in the acronym "save yourself time, energy, and money." He delves into tools such as playbooks, checklists, and templates to systemize business processes.

Document Business Processes in Playbooks, Checklists, and Templates

Martell advocates for the creation of a playbook that encapsulates all the processes pertinent to particular functions within the business. For instance, a marketing playbook provides comprehensive guidelines that include the business's marketing philosophy, identification of the ideal customer profile, and the marketing channels that should be utilized.

Capture Procedures For Core Activities Like Marketing, Sales, and Customer Service For Consistency and Repeatability

Additionally, Martell proposes the use of checklists as instruments that lay out essential steps to be followed for achieving consistent results, like those needed in email marketing. Likewise, he introduces stencils, which are similar to templates, for tasks such as cold calling. A stencil can provide a script that enables even a novice in sales to approximate the outcomes achieved by more seasoned professionals.

The aim is to transform business operations into streamlined, uncomplicated, and duplicable processes that guarantee consistent and repeatable outcomes in vital business activities – marketing, sales, and customer service.

Install Sensors to Track System Performance and Quality

Mar ...

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Systemization and Scalability

Additional Materials

Counterarguments

  • Systemization may not account for the unique aspects of certain businesses that thrive on creativity and flexibility, which can be stifled by overly rigid processes.
  • Over-reliance on playbooks and templates might lead to a lack of innovation and adaptability in rapidly changing markets.
  • Checklists and stencils could potentially oversimplify complex tasks, leading to a one-size-fits-all approach that may not work for every situation or customer interaction.
  • The implementation of sensors and tracking metrics can sometimes create a culture of micromanagement, which may negatively impact employee morale and autonomy.
  • Metrics and sensors may not always capture the qualitative aspects of business performance, such as employee engagement or customer loyalty.
  • There is a risk that the data collected by sensors could be misinterpreted or used to support biased conclusions if not analyzed correctly.
  • The focus on ...

Actionables

  • You can gamify the process of creating systems by setting up a point-based reward system for yourself. Assign points for each system-related task you complete, like drafting a section of your playbook or creating a new checklist. Set up milestones and reward yourself with something enjoyable or beneficial once you reach a certain number of points. This could be a small treat, a break to watch an episode of your favorite show, or even a day off when you accumulate enough points.
  • Develop a peer review circle with fellow entrepreneurs or colleagues to get feedback on your systems. Organize a monthly virtual meetup where each participant presents a system they've implemented, such as a new checklist or template, and receive constructive feedback. This not only helps refine your systems but also provides you with fresh perspectives and ideas that you might not have considered.
  • Use a simple app like Trello or Asana ...

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