Franziska: So yesterday I was reading a study that was conducted by Gazelles International about how businesses grow and how many businesses turn over more than a million, more than 10 million, more than $50 million per year and they studied 28 million companies globally. What they found is that only 4% of these companies make a turnover of more than a million dollars per year. So that‘s 4 in 100 and only 0.4% make more than $10 million per year turnover so that‘s 4 in one thousand companies. It really made me think about what are the key factors that will help a company grow from a startup to more than a million-dollar turnover or more than 10 million-dollar turnover. There are really two key things that I‘ve noticed working with hundreds and hundreds of businesses here at Basic Bananas that will help you do that.

The first thing is strategy. So the businesses that are doing really well, that are growing faster, that are doubling maybe every year or at least maybe adding 20%-30% every year, they have a strategy in place. They know exactly what they need to focus on. A strategy alone though doesn‘t really just make you have a magic business, magically growing business. You need the 2nd thing which is execution.

Again, this is where a lot of companies have a little bit of a challenge is on the execution. So the two most important things is strategy first, so have clarity on where you‘re going, what do you want to achieve, how are you going to do that. But then execute on this exact strategy. Now if you want to have a marketing strategy, if you are someone who is a little bit scattered in terms of marketing which is a very common thing, a lot of companies don‘t have that direction or clarity even when it comes to marketing, then you‘re very welcome to come to one of our marketing workshops. We run a half-day session across about 15-16 cities in Australia, the U.S., New Zealand and Canada. So you‘re welcome to join us in one of these sessions and you will work on your strategy. Then you will have to go home and do the execution.