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Austin Netzley is the Founder and CEO of the company 2X that is assisting 6- and 7-figure entrepreneurs in doubling their business in just 90 days. In their first year of business (2018), Austin Netzley and the 2X Team helped their clients generate over $60M in revenue. One of these clients was REPS & Co.
REPS & Co., established in 2017, is a San-Diego based company that is transforming the live events industry to become efficient and intuitive by using analytics and data. Austin Netzley helped REPS & Co. identify their key levers for growth, one of which was getting out of the day-to-day operations and building their team. The result was growing from 30 employees and $6.5M at the time to 100+ employees and $60M+ in revenue in less than a year. He achieved this by doing the following:
1. Developing Systems That Work
According to Austin, systems are the most important form of business leverage. If your business cannot run without your presence, if there are tasks that only you can accomplish at your business, or if everything about your business is centered on you, then you are not a business owner; you are the most overworked employee in your business.
And this is the case for a majority of businesses that are lacking the right systems. The purpose of having proper systems in place in business is to enable both the business and the owner to be fully autonomous of each other and allow the owner to successfully scale the business.
The first order of business for Austin Netzley in transforming REPS & Co. was to help the owners identify all the areas of the business that needed the right systems put in place. Next was to develop systems that allowed effective delegation of duties, efficient handling of tasks, and consistency of processes in the business. The implementation of these attributes is what made it possible to remove the founders of the business from the equation and still have the business run smoothly on a day-to-day basis.
2. Building a Robust Team
Once the proper systems are in place, the right people have to manage them for a business to thrive. A majority of entrepreneurs start their businesses with a partner, and for so long they operate as a duo running everything. This might be effective for a start-up, but it will not work for a 6-figure business looking to scale to 7 figures and beyond. As the CEO, you have to bring in new players and build a team that will grow your business. This is how people become the strongest form of business leverage.
At REPS & Co., Austin Netzley worked with the owners of the company to identify A-players to bring into the business to fill in the core roles and manage the systems implemented. The next phase was to gradually hire Virtual Assistants to handle the increasing bulk of work. This move saw the company grow from 30 employees to over 100 employees in just 8 months. The systemizing of all business processes coupled with the delegation of tasks and responsibilities guaranteed productivity among employees.
3. Knowing the Numbers
When the ideal systems are implemented and a strong team is running the business, the results will be fast growth of the business. But how do you ensure that your business keeps scaling at this rapid pace and keeps delivering similar results without you losing control? Well, you need to learn what is working and double on it, address the key issues, and be able to detect mistakes before they happen. This way, you’ll be in a position to foresee and seize the next big opportunity or the next industry disruption. How do you achieve all this? By consistently tracking the right numbers and analyzing the data to derive the facts.
To learn everything there is to do about the numbers and data in business, the founders of REPS & Co. enrolled in Austin Netzley’s 2X Business Accelerator Program. They learned to identify the key metrics of their business, track them, and understand the data relayed in order to make decisions. This is how the founders consistently made the right decisions in scaling their business, growing the revenue of REPS & Co. from $6.5M to over $60M in under a year.
What’s Your Leverage?
For Austin Netzley, when it comes to successfully scaling businesses, it all boils down to leverage – leveraging your systems, leveraging people, leveraging data, and then leveraging money when your business is strong and scalable. Are you interested in learning how to leverage your money to scale your business to the next level? Contact Austin Netzley and the 2X company to take your life and business to new heights.