Just Add a Zero for Business Success – Chad Jenkins

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06/24/2024

Show Notes:

✅ Discover how to create recurring revenue and increase enterprise value with Chad Jenkins!

✅ Learn from Tyler Martin’s conversation with Jenkins about leveraging unique business strategies.

✅ Dive deep into Chad’s book “Just Add a Zero” and explore unconventional thinking for exponential growth.

✅ Don’t miss out on game-changing insights—transform your enterprise by thinking differently!

INTRODUCTION

In today’s episode, host Tyler Martin sits down with Chad Jenkins, a visionary entrepreneur with a knack for creating exponential growth through unconventional strategies. They delve into the transformative power of recurring revenue models and how subscription-based businesses can significantly increase enterprise value. Chad shares wisdom from his book “Just Add a Zero,” offering practical advice on enhancing net profit, leveraging future money, and thinking differently for exponential growth.

Chad emphasizes the importance of building lasting customer relationships and empowering leadership teams by distinguishing between the roles of simplifiers and multipliers. He also draws from personal experiences, offering impactful quotes and real-world examples of business challenges turned into opportunities.

Whether you’re curious about unique growth strategies, ways to recognize and charge for the value you deliver, or the best practices for visionary thinking, this episode has something for you. Chad Jenkins, who operates globally through his company Seed Spark and holds ownership in over 15 diverse companies, brings a wealth of knowledge and experience. Don’t miss this engaging conversation packed with actionable insights aimed at helping you elevate your business to the next level.

ABOUT CHAD JENKINS

Chad Jenkins is an accomplished entrepreneur and visionary leader known for his unconventional growth strategies and expertise in building recurring revenue models. He is the founder and driving force behind Seed Spark, where he collaborates with organizations and entrepreneurs globally to achieve exponential growth through innovative thinking. With a diverse portfolio that includes ownership and partnerships in 15-17 operating companies, Chad has honed his skills across various industries, including cybersecurity, where he owns a firm.

Chad’s business acumen is rooted in a unique approach to identifying and capitalizing on opportunities by embracing friction and leveraging future value. His book, “Just Add a Zero,” encapsulates his methodology, which has been successfully applied across over 50 industries. Chad advocates for adding a zero to net profit figures and strategically sharing profits to reach ambitious goals. He encourages business owners to distinguish between simplifying and multiplying roles within their teams to unlock growth potential.

With a background that intriguingly includes rodeo participation as a child, Chad brings a blend of grit and ingenuity to his ventures. Primarily known for starting businesses from scratch, he also has experience in acquisitions, maintaining an 80/20 split between the two. His focus in recent years has been on empowering leadership teams and challenging conventional business strategies to drive exponential growth.

Chad Jenkins stands out as a thought leader who runs toward challenges, recognizing complaints as opportunities and leveraging them to craft valuable solutions. His dedication to helping entrepreneurs realize their potential through unconventional means makes him a dynamic and influential figure in the business world.

QUOTES

Chad Jenkins on Creating Recurring Revenue:

– “The key to creating recurring revenue is to constantly look for ways to build relationships and increase value, not just for the business but for the customers as well. When you shift to a subscription-based model, you’re not just selling a product or service; you’re investing in a lasting relationship that can grow over time.”

Tyler Martin on Being a Visionary:

– “It’s crucial for every business owner and entrepreneur to be a visionary. You need to spend time thinking about the future, applying best practices, and identifying the best times for deep, creative thinking. It’s not just about managing the day-to-day operations but envisioning where you want to take your business.”

Chad Jenkins on Leveraging Future Money:

– “One of the most powerful concepts I emphasize is the importance of leveraging future money. Don’t just look at your current profits; think about how you can exponentially grow those profits by thinking differently and challenging traditional methods. This approach can open up new avenues and untapped potential for your business.”

Chad Jenkins on the Simplifier and Multiplier Roles:

– “As an entrepreneur, it’s essential to understand the roles of a simplifier and a multiplier. A simplifier focuses on streamlining processes and reducing complexity, while a multiplier looks at ways to scale and grow exponentially. Embracing both roles and knowing when to apply each can unleash incredible growth potential for your business.”

Chad Jenkins on Empowering Teams:

– “One of the biggest lessons I learned was not leveraging an operator in my organizations. When you give someone an opportunity and step out of the way, you empower your team to take ownership and drive growth. It’s about trusting their abilities and providing them the space to innovate and excel.”

FUN FACTS

1. Chad has a diverse background that includes owning a cybersecurity firm and participating in rodeo events as a child.

2. Chad focuses on starting businesses from scratch with an 80/20 split between starting and acquiring.

3. Chad runs toward friction and views complaints as opportunities, believing that addressing them can lead to significant business growth.

LESSONS LEARNED

Creating Recurring Revenue Models

Chad Jenkins elaborates on the power of subscription-based models to foster recurring revenue and higher enterprise value. By shifting from one-time sales to ongoing service commitments, businesses can enjoy a more predictable and stable income stream. This model not only enhances financial stability but also builds stronger customer relationships, as continuous engagement leads to higher lifetime value. Jenkins emphasizes that recurring revenue models require a shift in mindset from transactional to relational, focusing on customer retention and long-term value rather than just initial sales.

Building Customer Relationships

Jenkins emphasizes the importance of strong customer relationships for business growth. He argues that delivering consistent value and nurturing these relationships can transform customers into loyal advocates. Engaging with clients to understand their needs and addressing their pain points can set a business apart in a competitive market. This customer-centric approach not only boosts immediate satisfaction but also drives word-of-mouth referrals and long-term loyalty, creating a self-sustaining cycle of growth and value for the business.

Unconventional Thinking for Growth

Chad Jenkins advocates for leveraging unconventional thinking to achieve exponential business growth. He encourages entrepreneurs to challenge traditional methods and explore innovative approaches that can unlock hidden opportunities. This involves questioning existing norms, investigating customer complaints as potential areas of improvement, and considering the power of less. Simplifying processes and focusing on fewer, high-impact strategies can lead to significant breakthroughs. Jenkins’ approach involves running towards frictions and using them as catalysts for innovative solutions that drive business success.

Leveraging the Power of Future Money

Jenkins advises leveraging the concept of future money to expand growth potential. This involves considering how investments today, both in financial terms and in strategic relationships, can yield significant returns in the future. He suggests thinking beyond immediate gains and planning for long-term benefits, which can be exponentially greater. By focusing on future profits and strategically sharing them with partners or key stakeholders, businesses can incentivize collaboration and multiply their growth potential. This strategic foresight is crucial for achieving sustained, transformative business success.

TAKE ACTION

Create Recurring Revenue Streams

Develop subscription-based models to build recurring revenue and increase your business’s enterprise value. Consider packaging services or products that deliver ongoing value, and ensure you maintain strong customer relationships to retain subscribers over time.

Delegate and Empower Your Team

Identify high-potential team members to take on operational roles, and then step back to let them shine. Empower them by providing the necessary resources and trust to make decisions. This will enable you to focus on strategic growth while leveraging the team’s strengths.

Leverage Customer Feedback for Growth Opportunities

Regularly query your clients about the services they find valuable and pay attention to their complaints to identify areas of improvement. Use this feedback to create solutions that address these frictions, potentially converting them into profitable opportunities for business growth.

LINKS

Seedspark

Linkedin

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