Comments on: Small ball your way to big growth

By: Can you ’small ball’ your way to wealth?- 7million7years

Can you ’small ball’ your way to wealth?- 7million7years — Thu, 29 Oct 2009 08:18:31 +0000

[...] Mitch suggests that while you are waiting for the “landmark victory … i.e. a four-bagger, a game changer … one that propels your business to a new level” you should play a little ’small-ball’ with your business: Small ball for me is the ability to deliver small but meaningful enhancements to your business in succession and continually. [...]

By: Jason Cohen

Jason Cohen — Sat, 26 Sep 2009 16:18:28 +0000

This is also a great strategy for personal wealth.

Many tech entrepreneurs swing for the fences instead of looking for slow, solid wins. A successful small business — even a one-person lifestyle business — can generate a million dollars of profits over what you would have made in a “regular job” given 5-10 years.

Also, I know someone who doesn’t start companies but helps run them for stock. Again, each stock win isn’t a grand slam — it’s $250k here, $500k there, and sometimes nothing — but over a 10-20 year career it adds up to as much as an unlikely “home run” event.

The important point here is that it’s much less risky to pursue one of these incremental strategies; you’re more likely to actually succeed.

By: Eric Marden

Eric Marden — Sat, 26 Sep 2009 00:00:04 +0000

Great Advice. More posts like this, please.

By: Brett Kopf

Brett Kopf — Thu, 24 Sep 2009 17:10:51 +0000

Great post. I know this doesn’t directly relate, but there is something to be said for fantastic customer service. I recently signed up for Freshbooks and received a phone call within an hour asking if I needed help! You got me there. A friend of mine signed up too and guess what, she got a call. There is something to be said for Freshbooks making this type of effort, great work. Keep it up

-Happy customer

By: Jermyn Shannon El

Jermyn Shannon El — Thu, 24 Sep 2009 15:31:03 +0000

Small incremental steps to improved processes and deliverables has sustained our business over the past 10 years. When we quit Quickbooks, and adopted Freshbooks, we managed to improve our productivity and sustain more clients. Great posts. We look forward to improvements over the years!

By: Jackson Couse

Jackson Couse — Thu, 24 Sep 2009 01:34:58 +0000

I could not agree more.

As a business person, I could every real relationship that I develop as a small ball success. Be it with a new supplier, a client, or a mentor, having good people on your side adds a little bit to your chances. The trick is to make sure the people you care about know that you do. Spending time treating people well leads to those big successes.

Jackson

By: ian sweeney

ian sweeney — Wed, 23 Sep 2009 20:57:55 +0000

Mitch,

nice post.

Young companies are constantly under pressure to deliver the next big thing or make a big breakthrough. Looking in from the outside at Freshbooks, Google, Youtube, Mint, etc., its easy for entrepreneurs to think thats the way to success.

Its certainly less sexy, but I think in 99% of cases its methodical, rigorous, perhaps even boring grind that yields the results.

Oh, and a good dose of luck!

Ian

By: Calcatraz

Calcatraz — Wed, 23 Sep 2009 19:45:20 +0000

Great post! This is my strategy for my first web application, an online calculator. I’m constantly on the lookout for those small improvements. My favourites are those that achieve something meaningful in a single sitting. It’s good to hear that the strategy is still being recommended by someone much further down the track. Keep up the good work!