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Growth Philosophies: Metrics, Milestones, & Golden Handcuffs (FS331)

Life is too short to do something you hate, why not start your own business? This way you can have much more personal freedom and stability, not to mention an opportunity for creative expression.

The Internet has allowed us to communicate with anyone in the world and has completely opened up the landscape of business. But that doesn’t mean you have to have an eBook and a massive email funnel – you don’t have to do business in any particular way just because you’re using the Internet.

If you’ve missed out on the last several episodes, we’re working though the roadmap that gives you the steps and stages to follow to start your own business, minus all the whingeing that goes along with constantly having to start all over again. We often waste time fiddling with things that aren’t that important, and then we wonder why we’re not making more rapid progress. This is where just-in-time learning comes in to save the day – learning only what you need for what’s in front of you right now.

In this episode we talk about the growth stage. Now that we’ve got a minimum viable product out, we need to know what ideas and systems we need to grow this thing. This might entail hiring some people to help us or defining the specific work we are going to say yes and no to.

We also talk about your personal definition of success and how that should determine the extent to which you grow, and then we get into aligning your metrics and milestones with the specific vision you have for your business. Growth is not easy, but it can be much easier if you listen to what we’ve got to give you today on the Fizzle Show!

Listen to the episode:

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Key Points from This Episode:

  • Aiden’s current experience travelling Europe as a digital nomad. [0:07:09.0]
  • Growing and the ideas we have around how big our business should be. [0:08:36.0]
  • How companies have an embedded growth obligation (EGO) to beat competitors. [0:12:43.0]
  • Establishing what growth is needed based on what success looks like for you.** [0:15:41.0]**
  • You can be successful and not feel successful. [0:21:50.0]
  • What kind of growth is enough? And why staying small is an option. [0:22:58.0]
  • Aiming for a meaningfully viable income that gives you the outcomes you want. [0:26:47.0]
  • There is so much more to business than how much money you’re making. [0:32:30.0]
  • How metrics and milestones play a role and why you should track it. [0:37:25.0]
  • Why the things you measure aren’t necessarily what you should be measuring. [0:41:29.0]
  • Vanity metrics aren’t real indicators of the growth that you specifically seek. [0:46:06.0]
  • The trick for pulling out key performance indicators that actually matter. [0:48:42.0]
  • What milestones are and how to make sure that they’re SMART. [0:55:09.0]
  • How good metrics and milestones give momentum to your business. [1:03:43.0]
  • And much more!

Links Mentioned in Today’s Episode:

Photo by Ravi Roshan on Unsplash

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