Seven Digits - Zero to One Million in Revenue through Faith and Finance
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The document outlines the principles and strategies for building a successful business as articulated by Christopher Justice, CEO of Sparksight. Key concepts include the importance of reciprocity, authenticity, financial health, and emotional intelligence in achieving business success. It also emphasizes the significance of creating a sustainable business model that values relationships, effective decision-making, and the balance between work and finance.
Seven Digits - Zero to One Million in Revenue through Faith and Finance
- 1. 1 Seven DigitsZero to One Million in Revenue through Faith and Finance
- 2. Christopher Justice SEVEN DIGITS ‣ Husband ‣ Father ‣ Friend ‣ CEO Christopher Justice is Chief Executive Officer and co-founder of Sparksight. He oversees operations and strategy but Chris is a key component of each Sparksight project and client. Combining wisdom and humor with common sense, Chris is a featured speaker and is a master at building better businesses through a combination of face-to-face and online marketing techniques. Chris has developed local, national and international marketing programs and events that capture the imagination and generate a sense of opportunity from attendees, customers, partners and employees. His fun and joking personality spreads through each employee and client, allowing for a casual but always professional experience. 2
- 3. introductions & Purpose ‣ Who are you? ‣ what do you do? ‣ what do you want to do? ‣ what is a business to you? ‣ be personal, be specific. ‣ WHAT ARE YOUR EXPECTATIONS ‣ HOW CAN YOUR EXPECTATIONS BE EXCEEDED ‣ THIS IS A TEST AND EXPERIEMENT 3
- 4. accountability video 4 You will have the opportunity to commit on video. You can describe your dream company or business. You can comment on the session and topics of the seminar.
- 5. AGENDA AND TIMELINES ‣ We are fluid ‣ your input is key ‣ questions at any time 8:30am Introductions and Purpose 9:00am The First Digit: Foundations 9:45am The Second Digit: Multipliers 10:45am Break 11:00am The Third Digit: Money 11:45am The Fourth Digit: Love 12:30pm Lunch (on your own) 1:30pm The Fifth Digit: In vs On 1:45pm Break 2:45pm The Six/Seventh Digit: Sustainability & Accountability 3:30pm Questions and Answers 5
- 6. 6 business types Legacy An system that lives after you are gone. Liability A unsustainable system that relies on one person to support it. Hobby Casual or occasional work that can be abandoned. Job A job is a regular activity performed in exchange for payment. 48
- 7. • ATTORNEY • INSURANCE AGENT • ACCOUNTANT • DESIGNER • HUMAN RESOURCE PROFESSIONAL • WEB DEVELOPER • COPYWRITERS • VIDEOGRAPHERS • EXPERIENCED ENTREPRENEUR ESSENTIAL RELATIONSHIPS 7
- 8. CHRISTOPHER JUSTICESEVEN DIGITS FIRST Digit: Foundations 8
- 9. FIrst Digit: Foundation SEVEN DIGITS Principle One: Reciprocity Give Back, Give Forward, RARELY take. 9
- 10. First Digit: Foundation Principle Two: Authenticity Be true to yourself. avoid lies and liars. Speak your mind no matter the consequence. SEVEN DIGITS 10
- 11. First Digit: Foundation SEVEN DIGITS Principle Three: Decisions are Binary Yes, no, there is no try, maybe or IF 11
- 12. Principle four: Strengths & Being Smart Your business is a child who relies on your soul to survive and your mind to thrive. First Digit: Foundation SEVEN DIGITS 12
- 13. SEVEN DIGITS SECOND Digit: MULTIPLIERS 13
- 14. Second Digit: Multipliers SEVEN DIGITS Principle Five: Not the Idea but the Person IDEAS have no value. You hold the ability to create your wealth 14
- 15. Second Digit: Multipliers SEVEN DIGITS Principle six: Goals Are Success Personified We work flexibly with clients to fulfil their print and web needs. 15
- 16. Second Digit: Multipliers SEVEN DIGITS Principle seven: SIMPLICITY Explaining yourself and your value should take seconds not sentances. 16
- 17. SEVEN DIGITS THRID Digit: MOney 17
- 18. PRINCIPLE eight: Deception Of Money Money is a thief of value and a core deception of success. Third Digit: Money SEVEN DIGITS 18
- 19. Third Digit: Money Seven Digits Principle NINE: Be a CASINO GENERATE IDEAS that have MULTIPLE OPPORTUNITIES FOR Generating income. 19
- 20. Third Digit: Money SEVEN DIGITS Principle TEN: Hire for Values, Not Skills You can teach anyone most things, but you cannot beat the jerk out of anyone. 20
- 21. SEVEN DIGITS Fourth Digit: love 21
- 22. The Fourth Digit: Love SEVEN DIGITS Principle eleven: purpose to promise your soul is the guide of your heart. commit to following it. 22
- 23. The Fourth Digit: Love Principle TWELVE: Fun, EASY, Fluid, Seamless make business fun and easy. stop, reset and respond if it is anything but. SEVEN DIGITS 23
- 24. The Fourth Digit: Love SEVEN DIGITS Principle Thirteen: Fail, often more scars than trophies. 24
- 25. SEVEN DIGITS FIFTH Digit: IN VS ON 25
- 26. The Fifth Digit: Working In vs On SEVEN DIGITS Principle fourteen: Valuation Manage your business in an impersonal way and create a business that is of value to someone else. 26
- 27. The Fifth Digit: Working In vs On Principle fifteen: systems operational, technological, financial, legal, human capital and marketing SEVEN DIGITS 27
- 28. The Fifth Digit: Working In vs On SEVEN DIGITS Principle sixteen: ASsETS and EXITS developing a foresight and a forward-looking vision 28
- 29. SEVEN DIGITS sixth Digit: Sustainability 29
- 30. The Sixth Digit: Sustainability SEVEN DIGITS Principle seventeen: results and emotions your business and your employees are a direct reflection of your state of minds and happiness. 30
- 31. The Sixth Digit: Sustainability Principle eighteen: leveraging performance find what works and apply it in every possible way SEVEN DIGITS 31
- 32. SEVEN DIGITS seventh Digit: accountability 32
- 33. The Seventh Digit: Accountability SEVEN DIGITS Principle nineteen: Simplicity and volume Small things done consistently in volume with a good margin, nice profit and repeatability 33
- 34. Principle TWENTY: Compound faith and finance profits realized as cash compound exponentially and creates true business and personal alignment The Seventh Digit: Accountability SEVEN DIGITS 34
- 35. DREAM 35
- 37. 37 defining a DReam business ‣ Determine your value and the equations of your success. ‣ Get a set of mentors and peers for brainstorming. ‣ The product of your business is love but the language of business is finance. ‣ Be happy and ready to pivot if the finances are not working. ‣ If you get in trouble, call a person on your Oh Shit List.
- 39. SEVEN DIGITS AWESOME PRESENTATION TEMPLATE ‣ NO ‣ no ‣ no ‣ yes Should you start a business if you have a lot of debt? Should you start a business if you can't fund it? Start a business if you can't afford to quit your job? Join a business that has momentum / learn as you earn? honest questions 39
- 40. 40 defining a business ‣ Are you a product or service? ‣ What investment will your business require? ‣ How quickly do you need to process customers? ‣ Are you a Entrepreneur, Manager, Technician?
- 41. 41 defining relationships ‣ Is this a social or business relationship? ‣ What does this person expect from me? ‣ What can I provide them that is within my direct control? ‣ Will there be a next step to our relationship? ‣ How does this person fit into my network of relationships? THE FIRST DIGIT: RECIPROCITY
- 42. 42 Authentic challenges ‣ We often live by the values we inherited from our parents, authority figures and childhood socialization. ‣ Technology has introduced unhealthy distractions that reduce authenticity and focus. ‣ Ask questions, be here, be now and be attentive to what’s actually happening in every situation. THE SECOND DIGIT: AUTHENTICITY
- 43. 43 THE SECOND DIGIT: AUTHENTICITY personal exercise ‣ What have been your three greatest accomplishments? ‣ What have been your three greatest failures? ‣ What are any common rules or themes that you can identify? ‣ Identify one trait that you want for every person in your company?
- 44. 44 decision mistakes ‣ Relying too much on expert information. ‣ Overestimating the value of information received from others. ‣ Hearing what you want to hear/seeing what you want to see. ‣ Not listening to your feelings or gut reactions. ‣ Lack of resource and cost estimation required. ‣ Baseless time estimate / working example used for comparison. THE FIRST DIGIT: RECIPROCITY
- 45. wise decisions “Politics is the art of postponing decisions until they are no longer relevant.” Henri Queuille 45 Do not over think, most business decisions can be reversed. After your decision is made, new major information may come to light suggesting alterations to or the wholesale reversal of your original decision. Don't get too hung up on keeping your options open. Remember that at some point, indecision becomes a decision to do nothing, which might be the worst decision of all.
- 46. excercise #1: Core values
- 47. 47 Initiate - We hire smart, friendly and driven people that are self-starters, detail-oriented and strong communicators. - We honor our commitments and communicate proactively to ensure trust and respect. - We foster collaborative relationships and continually share ideas and knowledge. Innovate - We are visionaries that exploit technology to transform experiences, processes and lives. - We are creative, open-minded and bold without losing focus on the needs we are serving. - We carefully select resources to that achieve the maximum benefit at the least cost. Inspire - We are designers that dedicate our collective energy to amaze, engage and motivate action. - We look for new and exciting opportunities to increase our value to our customers. - We treat ourselves well and feel that passion and determination are contagious.
- 48. 48 A binary decision is one that can have only two outcomes. Social influence determines collective outcomes of individuals faced with binary decisions. binary decisions
- 49. 49 IDEAS and people ‣ choose wisely your company ‣ Be observant of traits ‣ disassociate as necessary All the great ideas in the world are meaningless until someone takes them and applies energy to actualize them.
- 50. 50 multiplier ‣ Leverages time, energy and resources, ‣ Expands something beyond its original dimensions, ‣ Increases its efficiency over time, and, ‣ Projects forward in terms of interactions that define the business.
- 51. KARBON PRESENTATION 2 • 24 Outside In Devise your company and cash-flow model from the outside in - starting from a point of view what people want and structuring a business around meeting those demands. 51
- 52. 52 pricing and value ‣ product value ‣ service value ‣ BRAND value ‣ hourly Rate ‣ SaaS Your value is defined as what a person is willing to pay for your idea, product or service. Creative services: $50 - $150 per hour Programming/Engineering: $60 - $160 per hour Copywriting: $60 - $100 per hour Legal Services: $125 - $250 per hour
- 53. 53 developing core values Initiate - We hire smart, friendly and driven people that are self-starters, detail-oriented and strong communicators. - We honor our commitments and communicate proactively to ensure trust and respect. - We foster collaborative relationships and continually share ideas and knowledge. Innovate - We are visionaries that exploit technology to transform experiences, processes and lives. - We are creative, open-minded and bold without losing focus on the needs we are serving. - We carefully select resources to that achieve the maximum benefit at the least cost. Inspire - We are designers that dedicate our collective energy to amaze, engage and motivate action. - We look for new and exciting opportunities to increase our value to our customers. - We treat ourselves well and feel that passion and determination are contagious.
- 54. 54 Determine your hourly rate. Determine your floor of living. Personal value
- 55. THE SECOND DIGIT: MULTIPLIERS The CEO must be a great salesperson will call upon any customer or prospect. Great products and great companies are bought, not sold. Motivating customers and employees means figuring out what matters most to each person. chief executive officer 55
- 56. THE THIRD DIGIT: MONEY financial health Profit is why you are in business. Maximize cash-flow and build accurate forecasts. Self-funded, equity capital or angel funding. 56
- 57. 57 • Financial and accounting • Customer relationship management • Web Tracking • Email marketing • backup and restore measurement and tracking If you can track it you can change it.
- 58. 58 money is centered in energy ‣ Health and wellness are the foundations for wealth. ‣ The more energy you have, the more productive you are. ‣ A lifestyle change often results in financial benefits. ‣ Sleep, water, nutrition and exercise are essential to success. THE FIRST DIGIT: RECIPROCITY
- 59. 59 warning signs
- 60. A cash flow statement can tell you if you’re running out of money while you’re profitable. A cash flow statement can tell you if the owner is taking too much money out of the business. You will see the results of building inventory, letting receivables grow or paying suppliers more quickly. Capital purchases show up as an expense. You’ll see what your bank loan payments are doing to your cash. 60 most important: cash flow
- 61. 61 You are only going to be making 70% of whatever you charge for your value. So, out of that $100 / hour that you intend on charging, 30% of that is not yours. It's sad but true that, in most countries, you will be taxed on the income you produce.
- 62. THE THIRD DIGIT: MONEY salaries and talent People are typically your largest expense. Experienced people will cost more but work faster. Younger people will work for less but cost more. Experienced people will work for less if they are motivated and can envision a good outcome. 62
- 63. 63 surplus and savings ‣ Money is a tool, and it will take on the meaning you give it. ‣ The more money you have saved, the more choices you have. ‣ Taxes are good and demonstrate you are successful. ‣ Multiple products sources of income are essential. THE THIRD DIGIT: MONEY
- 64. break time i do not hear or see my business, i feel it. the breath i draw is from its values. Christopher JUstice 64
- 65. 65 Emotional Intelligence THE FIRST DIGIT: RECIPROCITY The ability to perceive emotion, integrate emotion to facilitate thought, understand emotions and to regulate emotions to promote personal growth.
- 66. 66 Perceiving Emotions: The first step in understanding emotions is to accurately perceive them. In many cases, this might involve understanding nonverbal signals such as body language and facial expressions. Reasoning With Emotions: The next step involves using emotions to promote thinking and cognitive activity. Emotions help prioritize what we pay attention and react to; we respond emotionally to things that garner our attention. Understanding Emotions: The emotions that we perceive can carry a wide variety of meanings. If someone is expressing angry emotions, the observer must interpret the cause of their anger and what it might mean. For example, if your boss is acting angry, it might mean that he is dissatisfied with your work; or it could be because he got a speeding ticket on his way to work that morning or that he's been fighting with his wife. Managing Emotions: The ability to manage emotions effectively is a key part of emotional intelligence. Regulating emotions, responding appropriately and responding to the emotions of others are all important aspect of emotional management.
- 67. Results and Cautions THE FIRST DIGIT: RECIPROCITY F R I E N D LYC O O P E R AT I V E G R AT E F U L P O S I T I V E The emotional burden to repay bothers some more than others, causing some to overcompensate with more than what was given originally. 67 CAUTION
- 68. break time Art does not reproduce what we see; rather, it makes us see. PAUL KLEE 68
- 69. laws of simplicity 69 Law #1: Reduce - Thoughtful reduction of all but core activities. Law #2: Organize - Sort, label, integrate and prioritize. Law #3: Time - The faster you accomplish things, the more freedom you will feel. Law #4: Learn - Knowledge makes everything simpler. Law #5: Difference - Simplicity and complexity are interwoven and congruent. Law #6: Context - Comfort and directionless. Law #7: Emotion - Feeling makes ideas human. Law #8: Trust - Letting go is natural, build integrity into the system first. Law #9: Failure - Success is not guaranteed but the result of failure is often simplicity. Law #10: The One - Simplicity is about subtracting the obvious and adding the meaningful.
- 70. excercise #2: sell your idea