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Guest Author: Tom Poland, Founder and Director, The 80-20 Circle, www.8020Preview.com

Not everyone wants to make their business worth millions but if you seriously like the idea of having a larger organisation tap you on your shoulder and give you millions of dollars to go away then please read on as I share the two keys that many of my clients have used to unlock the door to financial independence.

In 1995 I discovered that there are two things -and only two - that you need to need to do in order to make your business worth millions of dollars: you need to create a better strategy and you need better execution of that strategy.

Since 1995 I’ve shown literally hundreds of clients how to do these two things and many of them have gone on to sell their business for millions of dollars.

But please understand that without exception the clients who have gone on to sell for millions have followed the following 5 steps…

Step 1: Figure out a better strategy

Choose a small niche - either a product niche or regional niche or a target market niche - that is not specifically targeted by other organisations.

Step 2: Execute your strategy and become the market leader

This means that within that niche you make more sales than anyone else and you do that because you do a very good job of finding out the specific needs of your niche and targeting your branding, your packaging, your marketing and your product to the needs of that niche.

Step 3: Expand your niche

Once you have established yourself as the market leader then it’s time to get more sales by expanding geographically or expanding your product line or expanding your target market or expanding all three.

Step 4: Repeat

Grow your business in a secure and sustainable way by repeating this process over and over.

(Caution: do not expand until you are the market leader in a niche and you are very profitable! This is critical to your success. Expansion prior to profitability will send you broke! Stay in the niche until you profitably dominate it or walk away and find a new niche and start again.)

Step 5: Sell!

If you follow the above steps it’s a matter of time before you start to make a nuisance of yourself by eating into the market share of a larger organisation. That tends to get their attention.

You’ll then be approached to accept a lot of money and go and lie on a beach somewhere or take a two year world trip or go and help an aid organisation or spend more time with your family or whatever you wish because now you will have enough money for at least one lifetime.

Working hard and working long will never take the place of figuring out how to be in more demand than your competitors (better strategy) and then bringing that plan into life in the market place (better execution).

Follow the above steps if you are serious about growing your business into a wealth creating asset.

About Tom Poland:

Tom Poland is the founder and director of The 80-20 Circle which specialises in showing business owners how make their business worth millions.

At last count Tom had helped 1,476 clients across 56 industries and 4 continents to rapidly increase the value of their businesses. He has been published in 27 countries and now lives in the hinterland of the very sunny Sunshine Coast of Australia. His email address is tom@tompoland.com and you can visit www.8020Preview.com if you would like more information on how to make your business worth millions.