Question 1

What is the biggest mistake entrepreneurs make when trying to grow their business?

Accepted Answer

Many entrepreneurs get stuck in a cycle of competing on price, which is a short-sighted strategy that ultimately hurts their business. Instead of focusing on offering the lowest price, businesses should build their foundation on value, purpose, and a repeatable growth formula.

Question 2

What is the Growth Formula for predictable business growth?

Accepted Answer

The Growth Formula, as shared by Solomon Thimothy, is a simple yet powerful framework that combines customer acquisition and retention. By systematically attracting new customers and nurturing existing ones, businesses can create a predictable and sustainable growth engine.

Question 3

Why is customer retention so important for scaling a business?

Accepted Answer

Customer retention is crucial for scaling because it is more cost-effective to keep an existing customer than to acquire a new one. A strong retention strategy, including nurturing and automation, builds a loyal customer base that provides a stable foundation for growth and allows you to scale your acquisition efforts more effectively.