I recently learned about this Romanian business and the "miracle" that she did in just 3 years in Romania. The back story is brilliant, so I wanted to share it with you and all the other entrepreneurs in my community.
Because we need to look at such examples to realize the limits and constraints we put on ourselves, why we are already doing well and what can we do to improve on this path of entrepreneurship.
It is a company that initially started in the showbiz world, but who, over the course of the 3 years, has grown to do business in markets that no one thought.
They are Cristi Onetiu's consulting clients, who are also my business consultant and top 500 forbes millionaire (with over 50 million euros). For reasons of confidentiality, I can not say the name of the company, but it does not matter, but what is important is what we can learn from them.
I learned their story when I made Cristi and my team planning for the next few years in our business, and Cristi gave us examples of actions and exercises that he did with them and that generated the wow results.
Right then I told Cristi that I invited him to a blog interview on this subject, because my clients MUST know those things too.
He agreed, so below I talk to you about the discussion we had with him and tells us how it is possible to have ASA results in just three years.
Lorand: Cristi, since we started working together, we're "back on" with business scaling strategies and actions. We have come to plan a growth in business as we have not imagined possible for this year.
But what have these customers done with your help is absolutely wow! How did it happen, what did you do ??
Cristi: First of all I thank for the invitation to make this interview. It is very important for a large number of entrepreneurs to open their horizons in order to create a strong economic environment in Romania.
How did they grow up? It is a mix of several factors, which together guarantee you such results. You only need to teach them and then apply them. Without one of these 2 can not, unfortunately.
I have learned this mix from my own experience with my business, but also from international studies and foreign consultants where I have invested over 250,000 euros so far.
Then they applied firmly and energetically and so in the first year after working together they reached 3.2 million euros turnover and the next year at 8.
I will be invited to an interview in the next period to tell her directly how this increase was.
Lorand: I suppose if you accepted the interview you tell us what are the factors that generate such increases, right? 🙂
Cristi: Of course Lorand. Obviously, there are many actions to be done and strategies to be implemented, but these are four very important issues from which everything goes.
Once you keep an eye on them, things are put on a beacon, and from there you can implement quiet strategies for every business area.The important aspect 1. Be an entrepreneur and not a parent
That is to look at the business as a business, not as a child. Many of us are starting business and we are attaching to them. Because at first we do it all, somehow ... we stick to those businesses and integrate them into our identity. Moreover, we come to our minds that without us it does not work 🙂
And that's wrong. Because our identity should remain the entrepreneur: someone who has business ideas that can serve the world and make them take life with others; teams of people who can multiply the ideas of the entrepreneur and implement them with speed and success.
In order for the entrepreneur to continue to develop ideas, to improve the business at the macro level, to think about his long-term development.
Unfortunately, most of the Romanian entrepreneurs I talk to are too busy to be a secretary, accountant, salesperson, and distributor to become entrepreneurs. And their reason is that employees do not do the same thing.
Yes, to replace you in the company you need a board of at least 3 people for you. But it can. And that's what you can do only when you emotionally do not want to be the father / mother of your business, but your owner.
Only then will you be free to see new roads, the business will grow and you will be more free and prosperous.Important aspect no 2. Create targets for a minimum of 3-5 years


Only when you know where you want to get on the long run with the business will become clear what you have to do. And the three options you can have are:

    
Make exit and sell your business on a large amount (calculated based on EBITDA)
    
You attract investors and sell some of your business to generate higher growth
    
Teach your business management a competent board of managers to bring you the desired profit
Each of these options generates different actions and plans, so it's vital to know where.Important aspect No 3. Get out of mental limits
This is to stop reporting "what has been done", how does the market that you have activated so far, what team and resources you have, etc.
But you have to go outside the business and see with new eyes. Often new, owners, it is difficult for us to do this (it was very difficult for me initially). That's why an experienced consultant, or even more, is the best solution for a business that wants to grow faster.
Because someone outside, in addition to experience and knowledge you do not have, can see "cold", maybe push the boundaries and find new roads.Important aspect No 4. Learn the "business language"
I know I've said this in articles and videos. But I repeat it, precisely because it is extraordinarily important.
If you do not know how to speak this language, do not know the right economic principles and how to interpret it, it is 90% impossible to do any of the 3 objectives in point 2.
And because now we are talking about how our clients have grown faster, I will show the exercise that I have done with them and which has generated those results.
There are 4 variants to grow your business, based on this graph:



Option 1: Improve the way you sell old products / solutions to old customers. That means small improvements on sale. That may increase with 10-20% of the turnover.
Option 2: Sell old solutions to new customers (basically expand sales to other "fish jokes"). Bring results to grandmothers, you can even double your turnover.
Option 3: Sell new solutions to old customers (usually through innovation). If you have a large customer base to identify other needs, you can make big increases.
Option 4: Or where the wonder happens 🙂 Sell new solutions to new markets. Practically, find new, large and comprehensive markets to serve with innovative products. The big business I've heard in the world over the past few years has done.
My clients in this case study have done all four things, as you are going to do in LSS. And the surprises came without surprises.
So you can see how new knowledge (in this case the exercise with the four variants of turnover growth) helps you get to a completely different level.
Going for a business at a few million euros definitely requires you to educate yourself. I was shocked every time I brought a consultant and showed me how I did not know about business and economy. And I'm losing because I do not know.
So I've been seriously taught you. We've allocated education budgets from the company, we've brought costly consultants, and we've been doing business studies at big business schools.
I have seen that as I invest in education and then apply, the growth is huge, business is more seated and more independent of myself and I freer and more fulfilled.
And that's what my clients did. They took into account the four aspects, they were persevering in the application and the obvious results came.
Good people, therefore, seriously teach you the "business", no matter what your business goal is. This will save you lost years, white hair, worries and mediocre results. If you're doing business, why not make it bigger and enjoy prosperity in all its forms?
The only reason why you would not do that is if you really like to be sadistic with yourself. But do not you deserve more?
Lorand: Cristi, you already know that I totally agree with what you say, but I want to say this to those who read us.
Dear ones, we do not all have the goal of getting to tens of millions of euros to learn to do smarter business.
No matter what the goals for our business, we definitely have to learn the principles that guides those who manage to achieve great results.
And, as Cristi said, it's about the four aspects, but you know how much you learn. I have presented this successful case only to see that almost nothing you can do very much if you do the right actions.


With friendship,P.S. After this discussion, I asked Cristi a question. And the answer in the afternoon stunned me ...
Lorand: Cristi, why are you doing what? Why so big a business (anyway, you did not plan to spend more than 10,000 euros per month at any level you would be), why consulting? You could sit on a sunny beach all your life with what you have done so far!
Cristi: At one point I tried :). We all think that when we get there, it's perfect. But I could not stay for more than 7 days. Besides boredom .... I felt sick. I die with days. I had to do something SIGNIFICANT.
Business consulting is something I started to like more and more as I practiced it. And now it's not just a pleasure. It's a personal mission:
To support enough Romanians to develop their entrepreneurial spirit, so that at least 1,000 of them become ethical and free millionaires. That this country should look differently in the people around them to have more fulfilled lives.
It sounds utopian for most people who say now. But I do not address the majority. But a minority who wants to do extraordinary things to have an extraordinary life (whatever that means to them). The paradox is that "most" want such a life, but they fail to overcome self-limitations and passivity.
So I'm only selecting people who see opportunities in trouble. And I'm avoiding those who see problems in the opportunities.
 



Successful business made in Romania, from 80,000 to 8 million euros annually, in just 3 years