The beginning of the new year is an excellent time to shift your focus from the daily grind to overall business strategy. This time of year often prompts us to reflect on our achievements, plan for what’s next, and hit the ground running with goals and tasks.
Getting better at the “business game” is a surefire way to success. If we manage our business effectively, we can increase our monthly recurring revenue (MRR) at a decent price in 2024. It all starts with a solid grasp of business fundamentals and being open to thinking differently.
Consider exploring these seven TruMethods blog posts to empower your business mind in 2024.
Aiming for perfection might sound great, but it’s a tricky target that can end up causing more disappointment and slowing things down. It’s all about being flawless, which leaves little room for trying new things or slipping up. But there’s a silver lining — if you accept that things won’t always be perfect, you’re setting yourself up for more flexibility, bouncing back stronger, and growing your business in the long run.
In the MSP industry, the phrase “operational maturity” is often used to describe the level of sophistication in an MSP’s operations. However, my approach to evaluating an MSP begins with examining its “customer base maturity” rather than just focusing on operational aspects.
The introduction of new technology frequently leads us to make comparisons with existing or past innovations. This is evident with the launch of Apple’s Vision Pro, which has sparked comparisons to Google Glass, a product that debuted a decade ago. While many focus on the technical aspects and distinctions between the two devices, an intriguing dialogue about the concept of opportunity cost has emerged, capturing my interest.
In the book “Great by Choice,” Jim Collins introduces the concept of return on luck (ROL). After comparing good and bad luck events at numerous companies, he found that, on average, the high-performing companies, or as he called them, the 10X companies, had the same number of luck events as their counterparts. What sets them apart? Their superior returns on luck.
Champions do what others can’t or won’t do daily, making it look easy. This idea has several layers to it. Developing the discipline necessary to reach your full potential requires effort. It begins with identifying the essential elements of the role, task, or skill and then focuses on mastering the basics.
Earlier at Schnizzfest, my talk centered on self-awareness, its challenging nature, and its profound impact on our lives. This concept is evident in our relationships, and I’ve observed it among TruMethods members, especially regarding what prevents them from achieving their fullest potential.
At Schnizzfest, I highlighted the fall of the once-dominant ice industry, underscoring the perils of failing to adapt. This fate echoes in companies like Nortel and Blockbuster. A recent Wall Street Journal piece about Intel’s complacency, which led to Nvidia’s rise in graphics chips and now AI processing, further illustrates the crucial need for continual innovation.