The Martell Method w/ Dan Martell
8 Simple Rules of Business I wish I knew in my 20s and 30s
Sat, 08 Feb 2025
Get The Book (Buy Back Your Time): https://bit.ly/3pCTG78 Subscribe to My Newsletter: https://bit.ly/3W2tjp2 10 years ago I came across this one simple truth. It revolutionized my entrepreneurial journey: Your business can't outgrow you. And in this episode, I break down the 4 crucial levels every business owner must master - from your first $100K to scaling to $100M. It’s actually easier than you think. I share the 8 game-changing rules that will help you avoid 10 years of business makes.
Chapter 1: What are the four crucial levels of business growth?
15 years ago, I came across an idea, an idea that could have saved me 15 years of business mistakes. And it's that a business will never grow past the growth of the CEO. And if you don't evolve and grow past these four levels of business, you will be the one holding it back. Level one is your first $100,000 is made from skills, getting crazy good at what you do.
Level two, your first million dollars is made from hiring, building an awesome team around you. Level three, your first 10 million is from systems, refining your process and operations. Level four, your first hundred million is from building your people and coaching your leaders. And I made mistakes at every one of these levels.
But today I'm going to share with you the eight simple business rules that got me to that hundred million dollar level without working a hundred hour weeks and hating my life. Welcome to the Martell Method. I went from rehab at 17 to building a hundred million dollar empire and being a Wall Street Journal best-selling author.
In this podcast I'll show you exactly how to build a life and business you don't grow to hate. My best-selling book Buy Back Your Time is out now. Grab a copy at buybackyourtime.com or at any of your preferred online retailers. Starting at the 100K level with rule number one, model, then modify. A lot of first-time entrepreneurs make this huge mistake.
They decide to get into business and create a product that's never existed before. And they try to make everything up as they go. They think, if I do it this way, it'll be innovative. The problem is, if you don't understand why certain things are done a certain way, then you're going to fail. It's like learning to play a guitar. You don't start by writing songs.
You start by playing other people's music to understand how the notes work with each other. If you don't find a blueprint that's worked before to give you that foundation, then adding innovation on a sloppy foundation will only fail. So here's what you gotta do. Find the people who have what you want and do what they did.
One of the biggest mistakes people make is thinking they have to be unique to win. Even today, at 100 million in revenue per year, I still call people to get advice on how to start something new because they've been there, they've done it, and I can usually get there three to five times faster copying somebody else's process than trying to make it up myself.
But now that you're up and running, your attention will get sucked into new problems, which brings us to rule number two. Profit solves all problems. Oftentimes when I'm coaching new clients, I catch them working on things that are good for the business, but don't make them money. It's a lot of busy work, creating systems, creating content, fancy funnels.
What they should be doing is whatever gets them to sell something. Anything other than generating revenue is just playing the game of business, but actually not being a great entrepreneur. Here's my philosophy. If the problem can be solved with money, then it's not a real problem. The other issue is that people confuse revenue with profit.
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Chapter 2: How can 'model then modify' accelerate business success?
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