What’s needed to scale a business from zero to 8-figures? Raj Anand shares his roadmap
Raj Anand shares how he was able to scale his business to eight figures in revenue and how to get your team to buy into your vision as a startup entrepreneur.
Three key juicy bits from this week’s episode:
- Why companies should put more focus on retaining existing customers over acquiring new ones
- Marketing alone isn’t enough
- Four core values that Raj’s team live and work by
In this episode we discuss:
01:00 Introduction to Raj Anand
- Raj’s current focus [01:26]
- A fun fact about Raj [02:34]
03:50 Growing a business from €7.5 million to €45 million in five years
- How the business’s product evolved [05:39]
- The main factors that helped the company scale drastically [7:56]
12:32 Why the company focused heavily on serving existing customers
- Why many business are so focused on acquiring new customers over the retention of existing ones [14:46]
17:47 Why Raj decided to move on from his company after aiding in its massive growth
21:45 Raj’s lessons learned from failing at his first attempt at business
24:18 The four core values that Raj’s team embodies
- Instilling these values in remote teams [26:45]
28:30 Starting and scaling a business until it’s time to sell
- Raj’s top tips on scaling a business to seven digits in revenue [33:58]
37:04 Getting your team to sell out to your startup’s vision-mission
40:24 Raj’s plans for the future of Goodman Lantern
43:21 Raj’s advice for those looking to leave full-time employment to start their own business
- A roadmap for growth [45:09]
- For any company, the focus should always be on giving the best service to your current customers.
- Even if you have good marketing, you have to sell.
- When it comes to businesses in general, it’s about the team. If the team is good and you delegate tasks well, that is fundamental to a company’s success.
- The first 40 team members are the company’s founders.
- Motivating the team is the first and only job of the CEO.
- When building a business, always think long-term.