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EXECUTION £150,000/week to £700,000/week

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Bourbons

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Hey guys!

Don't post often, as I rarely take stock of "events", and I just get on with the process..

But it's a fairly large event, that's taking us from £150,000/week, which I've enjoyed for the last 6 months or so (quick, large growth from circa £40,000/week), to £700k/week.

The larger prospect is over double that, but at a minimum, so long as we don't **** up, this is guaranteed.

I was broke when I read TMF, living with £30/week money after paying bills, which went on food for me and my family.

This year looks like it'll be a big one, touch wood!

Best
 

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OP
OP
Bourbons

Bourbons

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Congratulations and well done.

What are some of the things you applied within your process thats been responsible for the growth to 750k
Tough question, I feel TMF mostly gave me validation, seeing the success MJ had, with many beliefs I already held -(but hadn't had articulated in such a way), validation I really needed as I had tried without any success for many years.

I'd say my biggest point is to not trade my time for a fixed fee, directly. Build a money tree
 

Bekit

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Hey guys!

Don't post often, as I rarely take stock of "events", and I just get on with the process..

But it's a fairly large event, that's taking us from £150,000/week, which I've enjoyed for the last 6 months or so (quick, large growth from circa £40,000/week), to £700k/week.

The larger prospect is over double that, but at a minimum, so long as we don't **** up, this is guaranteed.

I was broke when I read TMF, living with £30/week money after paying bills, which went on food for me and my family.

This year looks like it'll be a big one, touch wood!

Best
That's amazing! Congratulations!

What were some of the mindset shifts you had to make along the way? It seems like that kind of financial growth inevitably produces a lot of personal growth.

Who was your first hire? Any tips for how to approach hiring decisions in a way that contributes to rapid growth?
 

RazorCut

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Congratulations. That money goes further up North as well. ;)Marketing your own product(s) or do you have a marketing agency?
 

jpn

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Congrats. 7.8 million pounds a year In revenue sounds great! How much of that is profit? What are the margins you’re working with?

How did you get started, what was the path like?

And are you the solo owner or did you partner?

Being in the UK, does your business have any Brexit exposure? Any contingencies you’re planning for?
 
OP
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Bourbons

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Congratulations. That money goes further up North as well. ;)Marketing your own product(s) or do you have a marketing agency?
Just answering this straight one as it's my birthday and I've been out..
thanks buddy! Have a marketing agency, although we provide a "full sales process", I.e. if we send a client, we've taken them all the way to the fee earner for our partner company - so they don't require any form of sales staff. We generate and close the lead, working on a revenue share, in all agreements we hold
 

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Happy birthday and thanks for the enlightenment. Hope all goes well for your expansion.
 

Striver

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Congrats. 7.8 million pounds a year In revenue sounds great! How much of that is profit? What are the margins you’re working with?

How did you get started, what was the path like?

And are you the solo owner or did you partner?

Being in the UK, does your business have any Brexit exposure? Any contingencies you’re planning for?
It appears you missed the second set of numbers...
 

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jpn

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It appears you missed the second set of numbers...
It appears you missed the point of my reply. I want to politely determine how successful the business of OP really is.

Revenue is a nice number and 7,8 million or 36 million is nothing to sneeze at. But if only 1% of that is profit and it has to pay 10 salaries the picture suddenly looks very different than if that’s at 50% margin with only 2 employees. Not saying either is the case, just want to place the numbers into context.
 
OP
OP
Bourbons

Bourbons

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It appears you missed the point of my reply. I want to politely determine how successful the business of OP really is.

Revenue is a nice number and 7,8 million or 36 million is nothing to sneeze at. But if only 1% of that is profit and it has to pay 10 salaries the picture suddenly looks very different than if that’s at 50% margin with only 2 employees. Not saying either is the case, just want to place the numbers into context.
At the moment...
£103,000 marketing cost
£17,000 staff costs
£4,000 rent etc, variable.. float

Roughly £25,000 profit/week.

The key point is, this new work, is an upsell to our current clients, so there's no extra marketing cost. The additional revenue, bar a far staff at a weekly cost of £6,000, and £132,000 service provider costs - is all profit.
 

jpn

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At the moment...
£103,000 marketing cost
£17,000 staff costs
£4,000 rent etc, variable.. float

Roughly £25,000 profit/week.

The key point is, this new work, is an upsell to our current clients, so there's no extra marketing cost. The additional revenue, bar a far staff at a weekly cost of £6,000, and £132,000 service provider costs - is all profit.
Very nicely done! Increasing both revenue and margins! Congrats on the event and the hard work paying off.

Do you focus on a particular industry? If so, how’d you pick that one?
 
OP
OP
Bourbons

Bourbons

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Very nicely done! Increasing both revenue and margins! Congrats on the event and the hard work paying off.

Do you focus on a particular industry? If so, how’d you pick that one?
Thanks buddy! I do, for the most part. Started in another unrelated industry.. and do work in others entirely different. Currently profiting £4,000 from another industry looking to grow it. Always the same model, though.

I ask everyone what they do, and see if there's a fit. Case and point, someone knocked on my door today to ask if they could build a house on the land behind mine - I asked him what he does (landscaping) and he's going to do some work for me.
 

Striver

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I ask everyone what they do, and see if there's a fit. Case and point, someone knocked on my door today to ask if they could build a house on the land behind mine - I asked him what he does (landscaping) and he's going to do some work for me.
Networking is grossly underrated!
 

Ernman

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Congrats on your continuing success. I'd say, "good luck", but your hard work had much more to do with your success than luck.
 
OP
OP
Bourbons

Bourbons

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Mar 28, 2016
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Newcastle, UK
That's amazing! Congratulations!

What were some of the mindset shifts you had to make along the way? It seems like that kind of financial growth inevitably produces a lot of personal growth.

Who was your first hire? Any tips for how to approach hiring decisions in a way that contributes to rapid growth?
Mindset shifts... big shake up in my personal relationships. I don't give my time away so freely for menial tasks anymore, and get bogged down in other people's drama almost never. Lost some friends over it, but I've not suffered, in fact I'm closer to my immediate circle than ever, and happier for it.

We have a lot of staff.. first hire was telesales staff. He's actually earning over £100,000 PA now, has become head of sales.

Hiring talented and experienced staff, and paying them what they deserve is important, success will follow, so long as your model isn't flawed (imo)
 
OP
OP
Bourbons

Bourbons

Bronze Contributor
Speedway Pass
Mar 28, 2016
71
164
142
31
Newcastle, UK
Congrats. 7.8 million pounds a year In revenue sounds great! How much of that is profit? What are the margins you’re working with?

How did you get started, what was the path like?

And are you the solo owner or did you partner?

Being in the UK, does your business have any Brexit exposure? Any contingencies you’re planning for?
I got started.... I've never had a "job", other than when my wife was pregnant and I was broke, I delivered pizza whilst still working on my business.. driving around having conference calls with pizzas in the boot.

I have a few business partners in each of my companies, I have parts of business I prefer not to be in charge of, which granted now I could hire for, but I prefer bouncing ideas off a peer. Helps keep momentum up, with the right people.

Brexit is actually good for us, only because the government was focused on changing some of my industries, and now they're too busy to do anything but argue about how to do a deal.. (or whatever they're on to now, I don't track anything not directly related go my industry)
 

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