June 16, 2011
Seems like a silly question, doesn’t it? Who wouldn’t want to double profits?
Wanting to and being willing to do what it takes are two very different things. But I’ve found a playbook that might give you an edge.
Double your revenue and profit in 3 years or less. That’s a bold promise and one most authors wouldn’t dare make. But Cameron Herold doesn’t appear to be just any author. Cameron earned his chops running high-growth businesses such as 1-800-GOT-JUNK? where in his six years as COO, the company roughly doubled in size every year, growing from $2MM to over $106MM in sales.
What I appreciate about Herold book’s Double Double (click here to buy*) is that it’s practical “how to” stuff as opposed to a lot of theoretical discussion. Lots of good examples and very tangible tools. But all of that said….this isn’t revolutionary information. I doubt you are going to read anything that makes you slap yourself on the head and say, “I’d never have thought of that.”
So why read the book, you might ask. Well, if you’ve already doubled the size your revenue in the past 3 years and are on track to do it again — then you probably shouldn’t waste your time. But if you’re like 99% of business owners/leaders — you may be familiar with many of the concepts but you aren’t making it happen.
So read the book. Take notes. And notice the focus.
I think most business leaders know what they need to do to make their business successful. But then one of three things happens:
- They get distracted
- It gets too difficult (they don’t want to do something they need to do)
- They get worn out and don’t have the energy
The other danger is that most business leaders try to do this in a vacuum. They don’t involve their team. They don’t create a vision that’s so clear anyone in the company could draw it and they don’t protect/chase that vision like a middle linebacker at the Super Bowl. While Herold’s book can’t toughen you up to do the hard work — he has written a playbook you can follow.
Part One: This is what I would call the prep section. This is about creating your map. You can get somewhere without one, but why go to all that extra work? Measure twice, cut one! This isn’t just about vision, it’s about how to go from vision to action plan and how to create a culture where everyone is pulling in the same direction.
Part Two: This section is the nitty gritty of how to execute on the plan. It covers just what you’d expect it to — right people on the bus, marketing, tracking/measuring progress, etc.
Part Three: This section talks about having the heart of a leader. Herold talks about juggling all you have to do, finding some balance and the heart murmurs that come with running business. His chapter about the roller coaster was worth the price of the book alone. Having owned my own business since 1995 — I have felt everything he described and then some.
This book is a call to action so read it with a notepad by your side. I’d also recommend that you read it with your management team and then discuss your ideas together. It would be a great pre retreat homework assignment and then you could really dig into the planning.
Bottom line — if you want your business to be stronger, more profitable and more fun — this is an excellent playbook. But…reading the book won’t be enough so don’t bother buying it if you aren’t also willing to do the hard work.
*Yup, an affiliate link. The author sent me an advanced copy of this book to review. So did a bunch of other authors. But this book is worth sharing with you.