Every business owner wants to know the secret to great success. It’s really more simply than most think – because it’s all about growth. Years ago we researched the sources of wealth creation, and nothing was even close to being as important as revenue growth.
This podcast explains why 10%/year revenue growth is crucial to remaining relevant, and why just 2 quarters of declining revenue can be deadly. A dive into Starbucks revenue troubles demonstrates how easily a company can derail itself by focusing on one thing. And we explain why higher earnings at Tesla is buoying the stock, but revenue problems in the auto part of the company likely portends rough days ahead for the EV pioneer. Companies that don’t shift with markets will end up like the pharmacy retailers Walgreens, Rite Aid, CVS and independents that have mosly lost relevancy despite fantastic histories.
Thinking points:
- Do you have a plan to grow your revenues at 10%/year for the next decade?
- Do you think business is fine as long as you have earnings, even if revenues struggle?
- If you see a growth stall ahead do you know how to refocus on growth?
- Is your market shifting in ways that could make you irrelevant in the future?
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