The #1 Reason Why Most People Fail In Business

Ryan introduces a formula for business scaling in 2024: Strategy * Skill * Scale = Production...Create your business to grow your revenue, scale your organization, and make an impact with help from Wealthy Business! Apply here https://wealthyway.co/50d---Are you living The Wealthy Way? Take the quiz and get FREE access to the “Wealth Builder Academy” where I go over all the fundamentals of building wealth. https://www.wealthyway.com/Want to be coached by me on real estate investing? Join our Wealthy Investor program today at https://wealthyinvestor.com/podcastWould you like my team to help build your personal brand? Apply to join Pineda Media at https://pinedamedia.com/podcastLooking to grow in your faith and business? Join Wealthy Kingdom today https://wealthyway.co/dyyWant to partner with me to supercharge your business? Apply at https://www.pinedapartners.com/You can invest in my real estate deals! Go to https://pinedacapital.com ---Ryan emphasizes the art of subsidizing personal endeavors through strategic sponsorship, diverting the burden from personal finances. He advocates creativity in funding and believes not all expenses must be personally covered.Ryan introduces a formula for business scaling in 2024: Strategy * Skill * Scale = Production. He notes that many beginners struggle due to weak strategy, inconsistent skill development, and limited scaling.For solopreneurs, the formula might be 5(strategy) * 5(skill) * 1(scale) = 25(production). While commendable, scaling remains at 1. Expert solopreneurs may have 10(strategy) * 10(skill) * 1(scale) = 100(production), but the limitation of solo efforts persists.A business owner's equation, 1(skill) * 1(strategy) * 3(scale) = 3(production), introduces scale. The goal is mastery in all three aspects for optimal results.To enhance strategy, Ryan advises selecting a focused industry, understanding its potential market size (Total Addressable Market), and adapting strategies to evolving trends.For skill improvement, seeking a mentor is crucial to avoid mistakes and expedite the learning process. Daily dedication to learning, practicing, and executing is vital, with the end goal of becoming proficient enough to teach others.Scaling involves mentorship in building operations, utilizing systems, processes, technology, and human capital. Establishing relationships and creating awareness are keys to scaling effectively to a broader audience. Ryan underscores the importance of mastering all three components for business success.