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Are you willing to double your profits?

June 16th, 2011 · 18 Comments · Books, Business owner/leader stuff, Growing & Learning

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…do you want to double your profits?

Seems like a silly question, doesn’t it?  Who wouldn’t want to double profits?

Wanting to and being willing to do what it takes are two very different things.  But I’ve found a playbook that might give you an edge.

Double your revenue and profit in 3 years or less.  That’s a bold promise and one most authors wouldn’t dare make.  But Cameron Herold doesn’t appear to be just any author.  Cameron earned his chops running high-growth businesses such as 1-800-GOT-JUNK? where in his six years as COO, the company roughly doubled in size every year, growing from $2MM to over $106MM in sales.

What I appreciate about Herold book’s Double Double (click here to buy*) is that it’s practical “how to” stuff as opposed to a lot of theoretical discussion.  Lots of good examples and very tangible tools.  But all of that said….this isn’t revolutionary information.  I doubt you are going to read anything that makes you slap yourself on the head and say, “I’d never have thought of that.”

So why read the book, you might ask.  Well, if you’ve already doubled the size your revenue in the past 3 years and are on track to do it again — then you probably shouldn’t waste your time.  But if you’re like 99% of business owners/leaders — you may be familiar with many of the concepts but you aren’t making it happen.

So read the book.  Take notes.  And notice the focus.

I think most business leaders know what they need to do to make their business successful.  But then one of three things happens:

  • They get distracted
  • It gets too difficult (they don’t want to do something they need to do)
  • They get worn out and don’t have the energy

The other danger is that most business leaders try to do this in a vacuum.  They don’t involve their team.  They don’t create a vision that’s so clear anyone in the company could draw it and they don’t protect/chase that vision like a middle linebacker at the Super Bowl.  While Herold’s book can’t toughen you up to do the hard work — he has written a playbook you can follow.

Part One: This is what I would call the prep section.  This is about creating your map.  You can get somewhere without one, but why go to all that extra work?  Measure twice, cut one!  This isn’t just about vision, it’s about how to go from vision to action plan and how to create a culture where everyone is pulling in the same direction.

Part Two: This section is the nitty gritty of how to execute on the plan.  It covers just what you’d expect it to — right people on the bus, marketing, tracking/measuring progress, etc.

Part Three: This section talks about having the heart of a leader.   Herold talks about juggling all you have to do, finding some balance and the heart murmurs that come with running  business.  His chapter about the roller coaster was worth the price of the book alone.  Having owned my own business since 1995 — I have felt everything he described and then some.

This book is a call to action so read it with a notepad by your side.  I’d also recommend that you read it with your management team and then discuss your ideas together.  It would be a great pre retreat homework assignment and then you could really dig into the planning.

Bottom line — if you want your business to be stronger, more profitable and more fun — this is an excellent playbook.  But…reading the book won’t be enough so don’t bother buying it if you aren’t also willing to do the hard work.

 

*Yup, an affiliate link.  The author sent me an advanced copy of this book to review.  So did a bunch of other authors.  But this book is worth sharing with you.

 

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18 Comments so far ↓

  • Al Pittampalli

    Thanks for the recommendation, Drew. I find reading accounts of other businesses who have succeeded is one of the best ways to grow your own businesses. Not necessarily for the tactics, but it shows you what’s possible, and eliminates any excuses that might be holding you back.

    • Drew McLellan

      Al,

      This book will give you plenty of both — showing you what is possible AND some very tangible ways to make it happen. I’d love to hear what you think of it, if you decide to read it!

      Drew

  • David

    Thanks Drew – I’ll check this out. I find so many books by guys and gals who have “made it” to be full of non-replicable, situational factors that it makes it more frustration to read than motivating.

    I’d like to see the book by the man who “calls his shot” so to speak. Writes the book before he does it . . . . and then does it. Now that would be an author to trust!

    I know, wishful thinking :)
    David recently posted..Training to be a Life Coach – The 80-20 Rule for CoachesMy Profile

  • John

    Looks like a must read for me, and I need part 3 more than anyone. Having the heart of a leader, especially when things are not going as planed. Thanks mate, will check on it.

    John
    John recently posted..Host With The BestMy Profile

    • Drew McLellan

      John — honestly, I think that’s the hardest part about leading/running a company. Keeping your head and heart in alignment when things get tough.

      Hang in there!

      Drew

  • Vic Amosu

    Although the name ‘double Your Profit” is subjective. While it is easy for somebody earning $20 to double his profit within a month, it may take somebody on $1m like three to four years before he can double his profits.
    This is just by the side. I actually connect with what the author has in mind. It will be a great book to read for any aspiring person.
    Thank you for the review. I will definitely get the book .

  • Amelia@ International Business

    I’ve heard of Cameron Herold before but I never got a chance to read one of his books. I’ve Googled Double Double and it has some positive reviews.

    I’ll take a look at it because I want my business to not only double its profits within the next 3 years or less – I also want it to have a fun environment. I always believed that a fun working environment can produce productive employees.

    I’m just not sure if all contents of this book can be applied to both SMEs and big corporations.
    Amelia@ International Business recently posted..Strategies of GFIMy Profile

  • Web Design Company USA

    I have read Herold’s book Double Double and it was very helpful.

  • Philip Schultz

    I have seen this before in fact the company I am partnered with has defined everything about what this man has said and at one point the company doubled every year for a period of three to four years but we still continue to maintain a growth unheard of with today’s economic times. As partners with the company we have to do our part and the three difficulties and the three parts are something we have perfected so other’s can follow in our footsteps with relative ease. I am definitely going to read the book because it is imperitive to keep your brain in the game when it comes to running your own business. Thank you for the post Drew!

  • Heather Crawley

    We are a small staffing company, supplying high-level niche consultants to the banking industry. We have had a handful of loyal clients the last few years, but they are dwindling as banks merge/sell/change to VMS. We need to change our thinking to be more lead-generation-minded rather than reactionary.

  • matt

    Thank for this information.

  • Jenny Moses

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  • Dave

    Thanks for the recommendation Drew, I would whole heartedly agree about people getting distracted and not having a plan to focus on.

    Regards
    Dave
    Dave recently posted..EstoreMy Profile

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