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- SFB Newsletter # 1
SFB Newsletter # 1
How to Build a 7 Figure Business
Hey, Ben Slater here.
This newsletter is for business owners who want to scale their businesses.
Inside each edition I take a deep dive into one business system and I’ll show you how you can use it to scale up and become more free.
These are the exact systems that over 10,000 students have tested inside our business school.
We’ve had clients scale from $0 to $20M in yearly revenue by using these systems, we’ve also had hundreds of clients use them to crack their first $10K month and I’ve personally used them to do multi 7 figures in revenue over the past 10 years of my business journey.
Most of these systems were learnt from great mentors, some of them are ‘syncretic combinations’ between different ideas, models and methods, and a few of them were ‘discovered’ by my own testing and tinkering.
No matter where you are in the business journey - the intention of this newsletter is to provide you systems that produce results.
Each edition takes less than 10 minutes to read and will be delivered direct to your inbox - of course you can opt-out at any time - though if you’re a business owner or you’re aspiring to be one - I’m sure they’ll help a lot.
‘Systems Hierarchy’ for Business Owners
When we first learn a new language, a new sport or how to play chess…
There is a clear hierarchy of things you’ll want to know. It’s something like this;
Define the Playing Field
Learn the Objectives & Rules of the Game
Refine Your Strategies and Tactics With Practice
Can you imagine playing football or rugby without a concept of where you are in the field of play?
The reality for most business owners is this - most get stuck in the weeds and they forget the bigger picture - we forget to pull our head up and think about whether we’re in alignment with the field, the rules and even the objectives of why we started playing this game in the first place.
So the first system I want to share with you is what I consider to be ‘The Playing Field’ for business. It’s the most timeless model, and it’s as close to a universal law of business as you’ll find. It’s for these reasons I believe it’s the most valuable.
The Playing Field of Business: The 6 Pillars of Business
There are 6 Pillars of Business.
Mindset, Sales, Product, Marketing, Operations & Finance.
The businesses who are producing results in all of these areas will be dominating the game and at minimum will be on a 7 figure per year run rate.
The question shouldn’t be: ‘how do I create a million dollar business?’
It should be: ‘How do I get so strong in these pillars that a million dollar business becomes the natural outcome?’
If you want to become a master of business, simply master these areas. Want to make it even more simple - do it in order…
Yeah there’s a kicker here. These areas progress in complexity from simple & easy to abstract & more difficult.
When I first discovered this system something strange happened…
On my calls with clients I’m often taking about ‘where they are in the business’ - we use monthly revenue as the barometer for this. I started to notice a 95% (no shit) correlation between the monthly revenue and the pillar they were blocked in.
Here is what I discovered.
The Monthly Revenue x Pillar Blockage is Correlated
$0 - 5K - Mindset Blockage
$5K - $10K - Sales Blockage
$10K - $25K - Product Blockage
$25K - $50K - Marketing Blockage
$50K - $100K - Operations Blockage
$100K + Everything Blockage (joking, could be any of them)
Now just to be clear when I say, ‘calls with clients’ I’m talking about group programs with hundreds of businesses over a 5 year period and I’m talking thousands of sales calls.
A 95% correlation on thousands of data points is significant in my opinion.
There’s a path through the labyrinth of building a 7 figure business.
If you want to experience a powerful business breakthrough - Speak with just 10 small business owners about what their biggest problem is and what their monthly revenue is.
ANON POLL: Which of your pillars is the root cause of your business problems?If more cash would solve it - It's not finance - It's a sales problem. |
One of the biggest problems for business owners is ‘bright shiny object syndrome,’ where we constantly distract ourself from the root cause of our problems.
Once you truly understand The 6 Pillars and how they inter-relate, you have a system to consistently overpower that. This was a superpower for me with clients. I was able to slow down, focus on the real blockage the client was experiencing and remove it. They scaled faster than ever and our systems went on to add $45M to our clients businesses over a 4 year period.
I’m sharing this ‘Master System’ with you to illustrate that it’s not just ‘Systems,’ but a ‘Systems Hierarchy’ that truly leads to scale.
What’s coming next?
In the next newsletter I’ll take a deeper dive into the individual pillars, I’ll define them and then provide some patterns that I’ve observed in the lives of my most successful clients.
You’ll discover the objectives and KPI’s of each pillar so then you’ll know if you’re on the right track.
I’ll also dive into what these three levels mean ^ what you will want to aim for at each level, and how you play the game depending on where you are.
Want to Take an Even Deeper Dive into Our Systems?
If you like our approach there are two next steps you can take with us here at Systems For Business.
Start Small - We have a book, a journal and a workshop that all take a deep dive into areas of this system. If you need sales help my book ‘The Business Owners Guide to Profit’ dives deep into that. If the Operations in your business is a mess my Journal, ‘The Business Owner’s 90 Day Action Plan’ will help with that. The workshop hits more marketing and ops.
You can claim a copy of whichever product you prefer for less than the price of your lunch today.
Here is the linkYou Can Book a FREE 6 Pillars Scaling Consult - Every week we take FREE 45m Scaling Consults into the calendar with business owners who are looking to at least 2x their businesses within the next 12 months.
Inside of the 6 Pillars we have 105 different systems that you can use to improve your sales, product, profits and lead generation while strengthening your operations, your team and your mindset.
What’s in it for you - On the call we show you the exact systems you can install inside your 6 pillars to get things scaling faster.
What’s in it for us - We get to build more of a relationship with you and a large percentage of the people we speak to end up turning into clients at some point. (65% to be exact - so the call must be good)
Regards,
Ben.
Ps… I used Beehiiv to write and host this newsletter. I’m been overpaying for my Infusionsoft email system for the past 8 years. I’m so pleased someone built a vastly superior product for less than 20% of my previous costs. If you have an email list I recommend checking it out.