Jim Sterne, Principal Consultant at 2Y3X.com, discusses how businesses get past growth barriers by host Adam Torres on the Mission Matters Innovation Podcast.
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In a recent interview with Adam Torres, Jim Sterne talks about how 2Y3X is helping businesses transform into what they ultimately want to be.
How did your entrepreneurial journey begin?
Sterne has deep roots in entrepreneurship, beginning with his days of selling business computers and software development tools. In 1993, his developing fascination with the Internet led him to become one of the first people to launch a consulting business for online marketing. Over the years, he’s poured his depth and breadth of expertise into 12 books about online marketing. He created a conference on digital marketing analytics that actually led to the creation of the Digital Analytics Association.
Five years ago, Sterne met Felix Velarde, the chief executor of 2Y3X and author of the book Scale at Speed. He was impressed with the program and joined 2Y3X as its United States representative; they haven’t looked back since.
Tell us more about 2Y3X.com.
“At 2Y3X, the consultants do not tell you what to do,” Sterne says. They provide a framework to help businesses recognize goals and map out what it takes to reach them. The twist is, the team itself creates and owns the plan. “We assist the company with executing the plan in a psychologically sound manner,” he says, rather than the way consultants typically work; creating solutions in a silo and delivering them fully articulated, rather than building them collaboratively with the client’s full participation.
The name 2Y3X means three times growth in 2 years: a common goal for clients. “We help companies double and triple in size,” Sterne notes. “It’s the goal of the business owner that defines the contract. If the company is unable to hit the goal, I earn only half my pay, and hence, we are very motivated to see our clients succeed.” Stern says that challenge is what he enjoys most about the process. “It ‘s rewarding and helps me learn every day,” he says.
2Y3X offers two additional programs: one involves startup tech, helping entrepreneurs with product ideas to launch their businesses, and the other is a two-day-long value proposition workshop to help business owners set their brands apart from the rest.
“Most entrepreneurs fail at the value proposition,” Sterne says. “We help them identify what they are offering and how it’s unique. It covers everything from corporate values to customer expectations to Google-friendly language. A specific value proposition is central to marketing, sales, and customer satisfaction.”
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Advice for entrepreneurs
Sterne says most entrepreneurs are poor delegators, failing mainly at prioritization and sequencing. He explains that if in five years, you want to have 10x growth, for example, you need to work backward from that. To double your sales, you likely need more people, which means gearing up the recruitment process; for that, you’ll need a training program, and so on. Businesses need to focus on the things they need to start with, he says, before they can carry on effectively toward any given endpoint.
What kind of business is a good fit for 2Y3X.com?
2Y3X.com works with companies that have hit a growth plateau: if a business is running fine, but they desire something more dramatic than slow and steady organic growth, 2Y3X can help accelerate things intelligently.
“If the owner of the company is ready to relinquish control and ready to delegate positions of authority, you’re an ideal fit for 2Y3X,” Sterne says.
What’s next for you and 2Y3X.com?
Sterne says 2Y3X is looking forward to working on company rollouts and helping clients with mergers and acquisitions. “Service organizations are our sweet spot,” he notes. “We are open for ad agencies, website developers, analytics service organizations, software companies,” and more, he says. However, 2Y3X also has seasoned consultants in manufacturing, hospitality, and finance. 2YsX is rolling out marketing in the US and looking for experienced consultants to join the team.
To learn more, visit 2y3x.com.