Growth Tactics Newsletter #101

In this newsletter, we will focus on six mindsets you can implement in your business. Although the newsletter is longer than usual, we hope you will enjoy reading the brief stories that back up each mindset presented.

Additionally, let’s interact a little more. At the end of the six mindsets, there are a few questions for you to consider. Let us know what you think.

1. "Yes, we can" mindset

Traditional business strategy emphasizes focusing on core competencies and sticking to them. This conservative approach often limits innovation and flexibility.

Arnold Correia and Atmo Digital

Arnold Correia, a Brazilian entrepreneur, built his business by challenging these conventional rules. Initially reinventing his business twice, Correia positioned Atmo Digital as a major provider of event management and production services.

When a customer with 260 stores across Brazil requested a satellite uplink to broadcast training and motivational events in real-time, Correia didn't hesitate. Despite having no prior experience with satellite technology, he said, "Yes, we can," and successfully delivered the solution.

Later, when Walmart suggested installing television screens on sales floors for advertising, Correia again responded affirmatively. This adaptability allowed him to reinvent his business multiple times, proving the power of the "Yes, we can" mindset.

2. Problem-first, not product-first logic

Big companies often focus on product iterations—minor tweaks marketed as innovations. Entrepreneurs, however, succeed by solving real problems rather than simply enhancing existing products.

Jonathan Thorne and the Surgical forceps

Jonathan Thorne identified a significant problem with surgical forceps: they stuck to human tissue. By developing a new silver-nickel alloy to address this issue, he created a product that initially targeted plastic surgeons.

However, realizing the limited market growth, Thorne shifted his focus to neurosurgeons, whose work on delicate tissues in the brain and spine could greatly benefit from his innovation.

This problem-first approach led to a successful business, eventually sold to Stryker, highlighting the importance of addressing specific problems rather than merely tweaking products.

3. Think narrow, not broad

Big companies often seek large target markets to justify their investments. Entrepreneurs, however, find success by focusing on narrow, well-defined markets before expanding.

Case Study: Nike's founding by Philip Knight and Bill Bowerman

Phil Knight, a distance runner, and Bill Bowerman, his track coach, identified a specific problem: existing running shoes were designed for sprinters, not distance runners. They developed shoes with better lateral stability, cushioning, and lighter weight specifically for elite distance runners.

Once they mastered this niche, Nike expanded into other sports, eventually becoming a global leader in athletic footwear. This strategic expansion from a narrow focus to broader markets underscores the benefits of starting small and scaling up.

4. Ask for the cash and ride the float

While big companies are often awash in cash, entrepreneurs must be strategic in securing funds. Pre-selling products can be an effective way to finance growth.

Elon Musk and Tesla

When Elon Musk joined Tesla, the strategy was to build a high-end sports car to generate revenue, which would fund the development of more affordable models. By pre-selling 100 Tesla Roadsters at $100,000 each, Tesla raised $10 million before producing a single car.

This principle continued with the Model 3, where nearly half a million consumers placed $1,000 deposits, providing Tesla with $500 million in upfront cash. This strategy of securing funds early helped Tesla scale its operations effectively.

5. Beg, borrow, but don’t steal

Big companies often rely on extensive ROI calculations for project financing. Entrepreneurs, on the other hand, excel by resourcefully leveraging existing assets.

Tristram and Rebecca Mayhew's Go Ape

Tristram and Rebecca Mayhew wanted to create a treetop adventure business in the UK. Instead of investing heavily in land, they partnered with the UK Forestry Commission, which owned vast tracts of forest land. By borrowing the trees and other facilities, they rapidly expanded Go Ape with minimal initial investment.

Today, Go Ape operates numerous sites across the UK and the US, showcasing the importance of resourcefulness and leveraging available assets.

6. Don’t ask permission

In large companies, new initiatives often require extensive regulatory approval, slowing down innovation. Entrepreneurs, however, thrive by acting first and dealing with regulations later.

Uber’s Founding by Travis Kalanick and Garrett Camp

When Travis Kalanick and Garrett Camp founded Uber, they didn't seek permission from San Francisco regulators to start a taxi service without owning any taxis. Had they asked, they likely would have been denied due to the threat to the existing taxi industry.

While Uber's journey involved ethical and legal challenges, the core principle of acting decisively in ambiguous regulatory environments enabled rapid growth and market disruption.

Quick question for you

• Which mindsets do you already embody?

• Which ones can you learn?

• Can you teach these mindsets to others?

• Is there a current challenge you face where these mindsets could help?

🔥 New brand shoutout

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🔥 Influencer shoutout

Mari Janae (@marii_janae) is a vibrant social media influencer known for her engaging content on fashion, beauty, and lifestyle. She captivates her audience with her stylish outfits, beauty tips, and glimpses into her daily life, often sharing inspiration and positivity with her followers.