Welcome to SmartCompany‘s new monthly book review where we’ll review a business book to help you thrive in business.
This month we’re talking about The 7% Club by Jenny Stilwell.
Stilwell is a business mentor based in Victoria. She’s had years of experience in business development and works as a strategist and mentor, helping business owners navigate successful business growth. The 7% Club identifies what it takes to grow a business past the $2 million mark – an achievement attained by only 7% of all businesses in Australia.
It’s one thing to start a business, but quite another to keep the doors open past the nascent stage and record measured, profitable growth. Stilwell has used her extensive experience working as a business mentor to identify the key strategies established businesses employ to reach the $2 million mark and beyond. She addresses growth versus scale and helps the reader to develop their business without sacrificing profitability.
Stilwell’s trademarked “Shift Business Growth Framework” very clearly identifies the business components needed to successfully scale a business. These range from understanding key numbers to focusing on value creation and how to share accountability with a team. This is a well-considered growth strategy book that any business owner with ambition could apply.
The 7% Club takes the overwhelm and uncertainty away from business growth. It identifies each core element and shows how understanding them makes growth possible for all business owners, not just the few we see in business headlines.
Not sure how margins contribute to growth? Stilwell explains and gives examples.
Not sure what a dashboard is, or why you need one? It’s beautifully explained in the book.
Not sure how to get your staff to share your vision? It’s all in chapter seven.
Perhaps the most enjoyable aspect of the book though is the case studies of Australian businesses applying the concepts. Each chapter ends with a case study and website details confirming their existence.
Yes! You’ll find yourself nodding at various ideas along the way or grabbing a pen to adapt the ideas to your own business. My copy is full of highlighted pages and colourful tabs for easy reference.
⭐⭐⭐⭐⭐
The business book specialist Rereadable.com.au or any major bookstore.
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Leanne Faulkner is our resident book reviewer and the founder of the specialist business bookstore – Rereadable. Faulkner has worked as a small business mental health advocate for over 10 years, and has consulted on a range of projects supporting the small business community. She has also worked with COSBOA, ATO, Beyond Blue and ASBFEO. After completing her PhD on the mental health challenges in small business, Faulkner identified the link between business skills, confidence and stress at work. When not immersed in a business book, she is an in-demand keynote speaker with a focus on the mental health of the small business sector.
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