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Many businesses start out well but plateau after a while. Some remain permanently stuck there, or worse, begin to slide downhill into irrelevancy and ultimate failure. However, if there is one thing the authors of this book are experts on it is how to take businesses to the next level. Both Ross and Lemkin have proven track records as entrepreneurs, and their extensive and successful campaigns to make their companies rise to the top have also afforded them some valuable insights into what works in business and what doesn't. Thankfully, they have opted not to keep this knowledge to themselves but have chosen to share it in this excellent and well-written book.
The authors have identified seven key ingredients of hyper-growth companies that enable them to consistently maintain a predictable revenue. The first is learning to Nail A Niche. In their use of the word niche, the authors do not mean small but focused. A company needs to focus on addressing a specific need in their customer base and meeting it exceptionally well. Amazon, for example, focused on books. Once it became a powerhouse in that one niche, it could then capitalize on new markets. The next step is to Create Predictable Pipeline, which basically boils down to knowing how to generate leads. The authors point out three forms of lead generation nicknamed Seeds, Nets, and Spears. Many companies struggle because they may embrace one then ignore the others due to snobbery or philosophical beliefs about them, but learning to use all three well can be critical for success.
From there Ross and Lemkin tackle other keys such as how to Make Sales Scalable, the importance of learning to Double Your Deal-size, dealing with the frustration of having to Do The Time by realizing that your expectations about how many years it can take to succeed may be wildly off, and having the willingness to Embrace Employee Ownership. But it is the seventh and final key that makes this book not only a valuable resource for business owners but inspiring reading for employees, as well. In Define Your Destiny, the authors speak directly to workers, encouraging them to use any frustrations they have as motivation to work toward fixing the problems rather than passing blame. They challenge them to recognize their opportunities and to not see the company as their "mommy or daddy." Although there is some chastisement in this section, it is tempered with several positive suggestions for how to change and become a more satisfied and productive member of the team.
Using case studies from corporations such as Zenefits, Tapstream, Hubspot, and others as well as offering insights from their own background in Salesforce.com (Ross) and EchoSign (Lemkin), the authors support their points with many real-life examples. But something that makes this book stand out from its peers in this genre, aside from the superb advice given to business professionals, is the applicability of many of the concepts to ordinary life. For example, a major theme in the authors' teaching is the idea that the path to true success is achieved primarily by meeting the needs of others and helping them succeed; and that, quite frankly, is a strategy we all need to practice.
RECOMMENDED by the US Review