False Belief #5 — I can just work harder and put in more hours… and I’ll achieve 10x growth and have the business that I always dreamed of.
That was me, years ago in my auto parts business. I worked tirelessly, 7 days a week, wearing all the hats of a typical small business owner. Literally, I thought that I could sustain this long enough that I would reach my sales goals for the business.
Here’s what I found. My family, my kids, my recreational life or any remnant thereof, was non existent. As you might imagine, this didn’t end well. This was one of my greatest regrets and a huge, painful teaching lesson over time.
Some years ago, I read the 4 Hour Work Week and The E-Myth. For the first time, I understood the power of leverage and about replacing yourself in your business. Game changing would be an understatement.
But the real value came more recently on how to increase average transaction size. Some people call this average order value or AOV. Yes, proper value stacking does just that… however, there is a right way and a wrong way to achieve AOV. Learning this valuable approach has helped me immensely.