EP99. P1: John Mautner: Top Tools to Build Profitable High Growth Business
John Mautner, the founder of Cycle-of-Success Institute, is a seasoned entrepreneur who launched and built four successful companies in the past 20 years. Inc. Magazine named his first business as one of America’s 500 fastest growing companies–John tells us the top 10 tools for building a profitable high growth business!
John Mautner - Top Tools to Build Profitable High Growth Business
John Mautner, founder of Cycle-of-Success Institute, (COSi), formed his company in 2001, with the intention of providing small and mid-sized businesses with a practical business education program. Since then, COSi has educated and coached over thousands of graduates in the Midwest.
As a sign of appreciation for all that COSi accomplished to grow businesses that grow communities, Governor Pat Quinn named March 16th “COSi Day” in the state of Illinois.
John tells us the top 10 tools for building a profitable high growth business, on this episode of Revenue Chat.
- How it all started for John Mautner the founder of the Cycle-of-Success Institute at learncosi.com
- He quit his job to do this “dream.” You just won’t believe it!
- John spent his last dime buying a copper kettle from Germany, on a whim! Oh No!
- After 6 months of selling nuts, he was functionally bankrupt!
- Instead of getting a job again, he used the process of elimination on what was not working.
- Here he is, ready to go bust, and you won’t believe what John did next!
- Bam! Now, he’s making $3000 a day! Amazing!
- John was approached every day by people who wanted the product, and he began franchising his nut cart.
- In the next 5 years, he had roasted nut carts all over the world making in excess of $100 million revenue!
- John subscribes to being a positive thinker—the glass is always half full.
- He tripled in size every year for 7 years! One of the top 500 fastest growing companies!
- John sold his company, and from getting requests to show others what he did, he started consulting.
- He’s worked with over 4000 companies of all varieties.
- John says there’s about 10 million small business today that are just hanging on, barely making it.
- He’s helped a large number of businesses improve and saved jobs that March 16 is COSi Day in Illinois.
- John is expanding his model around the world.
- How he discovered his top 10 tools to build a profitable high growth business.
- John examined the last 100 companies that he coached to get on the right track and grow faster.
- He uses an approach called “voices of the company” and the “dream team of experts.”
- The questions and methods of helping to grow a company are truly astounding. Review carefully and take notes!
- The top 10 things to improve the company, in a study of the last 100 companies, were almost all exactly the same points!
- Deja vu: Another company in a different industry, had the same top 10 things they needed to improve!
- John wrote a book after his study and when published, it became the #1 bestselling business book on Amazon within 24 hours!
- John Mautner lays out the top 10 tools to build a profitable high growth business, then discusses in detail.
- 1-2 of top 10 tools to build a profitable business: 1. No formal sales process 2. Lack of Quality
- 3-4 of top 10 tools to build a profitable business: 3. Lack of standard operating procedures 4. Scheduling issues
- 5-6 of top 10 tools to build a profitable business: 5. Poor inventory management 6. Estimating and bidding errors
- 7-8 of top 10 tools to build a profitable business: 7. Tight cash flow 8. Lack of proper project management
- 9-10 of top 10 tools to build a profitable business: 9. Communication problems 10. Lack of innovation
- John Mautner fully describes #1 “No formal sales process“ and goes into the “elevator pitch” and objections.
- When you map out the sales process, you run into the speed bumps.
- Sales: a flow chart on the wall can identify key items to improve.
- The sales chart is great for training new employees who then have better success.
- John goes over #2 “inconsistent quality” and lack of quality control.
- Quality control: an inspection only at the end of the process can lead to huge waste and loss.
- Quality control is like step by step, passing of the baton, from one person to the next.
- John put the quality control steps within each department, as if they were internal customers.
- Quality needs to be a way of life in companies.
- John Mautner asks: What does a Big Mac and an F-15 have in common? Some serious answers, aside from a little comedy.
- Big Mac’s around the world are consistent because they have documented (#3) standard operating procedures.
- A lot of Mom and Pop restaurants fail within the first 5 years whereas 90% of franchise restaurants are still in business.
- Standard operating procedures is what helped John Mautner grow his nut cart to a $100 million dollar business.
- John tears apart #4: scheduling issues.
- He finds the customer can control the schedule, which creates an issue. Even the sales person can throw it out of whack.
- To put sanity in an area John freezes the schedule, though it takes guts to do it and stick to it.
John Mautner has one of America’s 500 fastest growing companies making over $100 million in 5 years! His top tools are very well surveyed, researched and in use by him as he helps 1000s of businesses expand to new heights. Takes notes and study this well to get your business rocking!
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