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This is a key insight shared by Chet Holmes.

He was a very successful business executive, and one of his biggest accomplishments was working and running a company at Berkshire Hathaway.

Charlie Munger is the vice-chairman of Berkshire Hathaway and Warren Buffet is the CEO – these guys are demigods in the business world.

Chet Holmes was said to be “America’s greatest sales and marketing executive” by Charlie Munger. He said that he had run 40 businesses and never seen anybody consistently achieve the kind of breakthrough results that Chet Holmes achieved time and time again.

The company he ran started at about 20M in revenue per year. After one year, he took it to 40M.

After another year, he took it to 80M. And by the third year, he took it to 160M. Those are impressive results. It’s more impressive that to grow from 20M to 40M, he didn’t grow his head count nor his resources. Basically zero –no additional funding, capital, nor people.

He didn’t share the specific stats for the following years’ growth so I can’t make them up (though I wish they were also zero because that’d be uber-compelling).

Chet said that he did only one thing to keep growing the company, year by year.

How to gain mastery

He said to pick one thing, and do it better than anything else, and do it better than anyone else. Pick that one item and own it completely.

His key message is to forget about being a scatterbrain and chasing 50 different ideas because that doesn’t work.

If you had to choose to do 4000 activities 12 times, or 12 activities 4000 times, which would you pick?

4000 activities 12 times might be fun, but it’s also dumb. Entrepreneurs often all into this trap.

Chet Holmes is a ‘turn-around expert’, and he chose the latter option: 12 activities 4000 times.

In every company he went into, he noticed that people were doing a gazillion things a few times, and were ending up mediocre at everything.

Chet would dive into the sales organization and completely turning it around by asking the question, “How are we going to become masters at sales?”

This is how he achieved breakthrough growth with no new sales people and no additional resources. He would just figure out how to make the company masters at sales and turn the company around.

Find out what the 12 things are, and become world class at doing those.

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To Your Success

Tony Markx

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