I finally figured it out today. You know, when there’s that thing that has been nagging you for a while and you know the answer is out there, but you just don’t know what it is. There’s a continual debate between lifestyle and growth businesses, specifically, what’s the difference between the two. Here it is, the number one difference between a lifestyle and growth business:
Growth businesses have a repeatable sales process that doesn’t involve the owner/founder.
It seems so obvious. I’ve talked to many entrepreneurs over the years and most talk about increasing revenue, but it is solely dependent on them. The entrepreneurs with a growth business, in growth mode, are working on optimizing their repeatable sales process. There’s a fundamental difference between lifestyle and growth businesses, and the repeatable sales process is it.
What do you think? Do you agree or disagree?