Recently, I sat down for a podcast interview with Judge Graham. Judge is a serial entrepreneur and has made massive exits from multiple companies. Judge has written multiple best selling books, been seen in Forbes and Inc magazine, and has been called The Scale and Culture Authority.
1. Culture – Judge will always attribute building a strong culture to his success. With both of his companies, everyone had access to treadmill desks, they brought the staff breakfast every day, and they were voted a top company to work for by many publications.
2. Recurring Revenue – Judge believes so passionately in this, that he even wrote a book titled, “mastering recurring revenue.” Judge’s first company was a website development firm and failed because of cash flow issues and no predictability in his revenues. The cash flow issues were caused by building a business model that was project-based, which meant every day is a new day that he had to generate new sales. Judge quickly learned from this failure and went on to build very large businesses that all focused on capturing recurring revenue.
3. Sell Revenue – To be successful in the agency space, you must sell revenue. Judge quickly realized that if he were to bring his clients a return on investment, that they would continue to pay him what he charged. All businesses love to make money, and if you learn how to help, it can be very lucrative.
4. Build to Sell – Judge sold his companies for massive money because he always had the goal to do so in mind. When you’re positioning your business, don’t position yourself so directly to it. Judge recommends that if you want to make a successful exit, you must first detach yourself from the business.
5. Just Start- One key factor Judge built his organizations up was this, no task is too daunting or hard, let’s do it today! Judge and his colleagues quickly realized that massive action was the quickest way to reach a goal. Judge still uses this theory today, with everything he does.