If you lead a company and that company does less than $3 million in sales per year, you are the Chief Momentum Officer of that firm.
Therefore, since the VAST majority of women-owned businesses do not generate more than $3 million in annual revenues, I’m going to take a not-so-wild-guess and suggest that your job is currently Chief Momentum Officer (CMoO).
Your job as CMoO involves figuring out how to generate money momentum in your organization…how to land deals, find clients, increase sales and do that on repeat in perpetuity.
You have likely spent lots of time and money researching exactly what other entrepreneurs are doing to generate their momentum. You have purchased the courses, studied the formulas, replicated the steps, then tried new formulas.
You have consumed books, blogs and podcasts in an effort to determine what entrepreneurs who are richer and more successful than you are (at this time!) are doing and how you can model their system and replicate their results.
Some people call this practice of “R&D” (research and duplicate) formulaic, tired, unoriginal and sad.
But I think this approach is smart. My mother could have blindfolded me to see “how I created my own walking process”, or she could have just allowed me to observe humans walking and then try to imitate what they did.
I’m glad she chose the latter. It saved both of us a lot of time.
Learning formulas and systems and then implementing them in your own company makes sense.
In fact, formulas and systems constitute a major asset class in your business, the asset class called “Systems & Processes”.
If you don’t have systems and processes (I call them “Freedom Tickets”), you’re missing out on a major opportunity to make more money consistently. And the best part is…you don’t have to create all your systems and processes yourself.
I have studied, learned, implemented and iterated DOZENS and DOZENS of formulas and systems into my business over the years in an effort to generate greater and greater momentum. It’s a habit of continuous experimentation, improvement and best-practice-implementation that I strongly encourage.
Because it works.
Here’s what you need to know about formulas though.
Everybody will tell you that THEIR formula is the best formula. If they have no formula, they will tell you that no formula is the best formula.
In each case, the formula teachers will hold up person after person who has succeeded with their formula.
And they will all be right.
How?
Because sometimes formulas just straight up work perfectly for another person. More often, one formula will help you find another formula that works even better for you.
If you stay open to best practices, experiment enough and persevere, you will always discover YOUR formula.
Your formula will typically borrow a little from a bunch of other formulas and put them together in your special way. And then bam – that’s your formula.
This is the path of so many of the great artistic masters…the vast majority of whom studied and practiced other people’s formulas and then used the basis of that knowledge to then create a new style and approach that worked for them.
Here’s another thing to know about formulas.
They rarely work exactly as promised…because every leader and business is different. That said, I have never found a formula that didn’t either a) work at least a little, or b) open the door to a new way of seeing a situation or solving a problem.
You can and absolutely should leverage formulas to generate momentum and grow your business. They key is to use them not to replicate someone else’s success, but to unleash the power of your own path.
Stay fierce,
Eleanor