The Business Growth Blueprint Ep. 2
Peter Leckemby (00:20)
Welcome everybody to the Business Growth Blueprint excited to be here with my good friend Sverrir Ragnarsson Because I cannot pronounce it. We just call him Shred So welcome
Sverrir Ragnarsson (00:33)
Thank you so much and the proper pronunciation is Sverrir Ragnarsson.
Peter Leckemby (00:38)
Beautiful. I cannot roll an R like that. So we just won't even try. So thank you for the permission to call you Shred. Everybody out there, he is Shredder. He is an incredible coach, incredible sales trainer, leadership trainer, just phenomenal. Been in business for himself for many, many years So we're here to have a conversation about what it's like to be a business owner, what challenges he has faced, and we're gonna have a lot of fun. So thanks for joining me today.
Sverrir Ragnarsson (01:05)
Thanks for having me and I did my hair and everything before I came. I can see you did the same. that's awesome.
Peter Leckemby (01:08)
I love it. Yes, hair products, it's great. $6 bottle of shampoo last five years and we're good. So let's kind of start at the beginning, your origin story. Tell me a little bit about, you know, why you started your business in the first place.
Sverrir Ragnarsson (01:24)
So in the beginning, of course, I went to school and did all those things. And I'm educated here from the University of Denver. And then I went back home to Iceland and was working with some of the biggest companies back home in the shipping industry, in the car industry, in the retail industry. And I was at the management level there. But the interesting thing is that I'm born and raised into a family -owned business. And the family has owned a clothing business, men's clothing business since 1956.
Growing up, I didn't know anything else than my parents and my family and my grandparents. Everyone just being in business. So I was just at this moment. I really wanted to go into business since I was just a kid by myself, but got great experience from a lot of good companies back home. And then just one day I just took the jump and I said,
I don't want to be in the family business and because I did not want to be successful because my parents were successful, I wanted to do it on my own. So I just jumped.
Peter Leckemby (02:22)
So what made you choose the business you went into?
Sverrir Ragnarsson (02:25)
So I've always been kind of an open people person and I was doing actually a lot of, I was in HR the last part of my training and I've always been doing a lot of customer service training back home. Even though I was...
With companies, I was just training the staff in the businesses on customer service, everything in our family -owned businesses about customer service and sales. And so I was actually in a sales job one day, it was in 1999, 2000. I was in a sales job, and I remember exactly where I was located when this actually happened is that I was doing training. I was working for a company back home.
that was doing training, actually I was not doing training, that was doing sales and I was in a sales job there and I was in my hometown Akureyre in the north of Iceland and the owner of the company came with me to Akureyre, we both were living in Reykjavik and the owner of the company came with me to Akureyre and was watching me doing a sales presentation and after the sales presentation she comes up to me and says
You're never going to do this again. And I was just, what are you talking about? Are you firing me? And then she was just, she started laughing. She was awesome. And her name is Svama Grunfeld. And she is a, she's highly, she's really up in the ranking at MIT here in the U S and she just started laughing at the moment. And, and then she said, no, no, no, no, I'm not firing you. I'm just moving you into the training and consulting department.
And it was a Friday afternoon and she said, by the way, you have to do a sales training on Monday. I was just, what? And then this is how it started.
Peter Leckemby (04:10)
Plenty of time to prepare. So that was the start of it. right. Yeah, so early 2000s, so 20 plus years now.
Sverrir Ragnarsson (04:17)
That was the beginning,
Actually, I was actually working with that company and then I moved to another company actually managing one of the biggest car importers of Iceland. And because of that, I started doing a lot of on -site trainings and stuff like that. then I was just kind of, you know what? I really want to do this just full -time. I don't want to be sitting in an office managing the business and the people. I just want to do my own business and I want to be an unemployable.
Peter Leckemby (04:51)
Well, 20 years on your own, you are unemployable at this point. Well, it is funny, we talk about business owners kind of fall into a few different categories. One is the person who just doesn't want a boss. So they go and they start their own business and they find themselves quite often, they have a job, they just don't have a boss and they're struggling, they're working to try to grow their business or figure out how to make ends meet and pull things together.
And then the second category is that true business owner. They get some employees. They are managing the business. They're probably doing some things right. They may be making some mistakes learning. And then you've got the entrepreneur. And definitely that is a different mindset. The person that starts the business to scale it, potentially sell it, start additional businesses. You you've got all those different categories. So you wanted to do your own thing, but you also wanted to grow and have that that solopreneur kind of mindset. Tell me more about that.
Sverrir Ragnarsson (05:49)
totally. Totally. So when I started, I was just doing training and I was struggling big time. I I was going from a well -paying job into having nothing. And this was actually right before, well, had one daughter and I actually went into the business in...
right at two months after I had my second daughter. And that was just the income was none. And in the beginning, but it actually, it did grow okay in the beginning, but it was, it was struggled for, many years and I was only doing training. And then I really got into the coaching part and consulting part and that has grown my business immensely. So.
And yeah, I'm very pleased, but I'm just at the starting point, even though I've been doing it for a long time.
Peter Leckemby (06:41)
I love that mindset is the beginner's mind. And you looked at your product offering, wasn't delivering what you wanted. What additional products, services can I go and offer? You can't just turn that switch on though, overnight. What did you have to do from a developing yourself, developing your mindset? How did you go about that process and what did that look like for you?
Sverrir Ragnarsson (07:02)
So the process was, I mean, I was thrown into this business. So I had to actually learn a lot. And when I was getting into it, of course there was internet, but we did not have the access that we have today. it was a lot of reading. It was a lot of learning from others. It was a lot of kind of studying what was happening. Every time I walk into a business, I look at the customer service and...
And for example, just yesterday I went into a bank with my daughter and I was just, this is terrible customer service. And my daughters are there, yeah, don't say anything like that in front of the people. Of course we're speaking Icelandic, but we see the point. But then I actually started getting certified in a lot of different areas. And I did actually read one book called Influencer, and this is a sister book of Crucial Conversation. And I really liked that book.
Peter Leckemby (07:51)
Yeah.
Sverrir Ragnarsson (07:54)
So I actually did just contact the authors and the owners of it and said, Hey, I love your material. What do I need to do to become a trainer for you? I'm one of the best trainers in the world. What do need to do? And they were just, you are actually located in Iceland. So we are actually dealing with a company called Door Training in, in, in Europe. They have access to our content. So talk to the owner of that company.
And of course I did. called him on a Friday afternoon and said, Hey, I'm one of the best trainers you've ever seen. Probably. I would love to get connected with you and actually do some work with you and learn the crucial conversation and influence and all those things. And he was just, yeah, right. You think you're a good trainer? Yeah, I'm a great one. Okay. Come and prove it.
And I was sitting in Iceland, he was sitting in Frankfurt and I said, when do want me to come? Monday. And I was just, okay, I'll show up on Monday. So I flew to Frankfurt on a Sunday night. Stayed in, it was actually in Wiesbaden, very close to Frankfurt. Flew into Frankfurt, stayed in Frankfurt, showed up in Wiesbaden at nine o 'clock in the morning on Monday.
Had a conversation with them, did a little bit of a kind of a teach back or training or just kind of introducing myself. And we signed a contract that afternoon and I flew back home. And the rest is history. that's when I started working a lot and growing a lot with Microsoft and some of the worldwide and big companies in the world. So, lot of stories.
Peter Leckemby (09:28)
That's fantastic. So you passed the audition that you had to fly halfway across the world for, know, a couple things. yeah. You were already in Iceland. Okay. That's fair. That's fair. A couple things I heard in there though, that I think are really good lessons for really for anyone, but business owners, you, you you, said, Hey, I'm one of the best trainers, you know, there's that confidence, that belief in your abilities that is so key. And I think that stands out. And then the second thing.
Sverrir Ragnarsson (09:34)
Well, it was only two and a half hours. Yeah, yeah, yeah.
Peter Leckemby (09:56)
was they referred you, your first call to the folks, the influencer didn't get you where you wanted to go. They referred you to the store training company. Hey, I'm gonna contact the owner. You just reached out. So there's that confidence in your abilities, but also that, hey, rejection might happen. I'm game, let's go. It seems like you're pretty bold, pretty bold guy from what I know. And not bald, bold.
Sverrir Ragnarsson (10:25)
I'm just joking. Well, yeah, yeah, I mean it's and the word actually comes to mind when you're talking about this is it's yes, I have a lot of self confidence and I've been had I've had a lot of nicknames and I'm still nicknamed some crazy stuff within my family because nothing was impossible for me when I was growing up. I could do anything. And the big word that you actually came up. Well, you didn't say it, but that came to my mind when you were talking about this courage. Just take the chance. I mean, yes. Are you going to screw up?
Are you going to still move on? Yeah. Are you going to be unhappy when you screw up? Of course you are, but then just move on and try again. should stop us in anything we do.
Peter Leckemby (11:03)
Well, and that's such good wisdom, but at the same time, you're human, you feel those emotions, those knots in your stomach, those nerves. Tell me how you go about working through the nerves, the fear, the, man, am I going to get rejected? Is this risk worth taking? mean, your life's a great story of taking calculated risks, but risks that may not pay off. How do you approach those?
Sverrir Ragnarsson (11:09)
Of course.
And it has happened many, many times. how do I, well, you know me a little bit, Pete, and we've known each other for a little, some time now because we were in one of the certifications together. And I'm a very positive person. I'm a very kind of, I don't see a lot of obstacles, but when I face obstacles, of course I feel it and I get down and all that, but I always focus on stepping up again.
I always focus on, okay, I have gotten through the hard stuff before and I've gotten, mean, not like crazy hard stuff, but for example, I went through a divorce. That's a big thing for me. And it was a terrible thing to go through, but.
I was just kind of, you know what? I'm not the first person on the planet that is going through this. I'm having an awesome life. So I cannot complain. There are billions of people that have it worse than I have. So it's just, what do I need to do to move forward? So I ask that question quite often. So what can I do to move forward? What can I do to get out of this? Can I say a whole? This turbulence or whatever it is, what do I need to do to get out of it?
Peter Leckemby (12:30)
Yeah.
Sverrir Ragnarsson (12:35)
Sometimes when I'm getting out of there I screw up again. You know what? But it's just move on. And of course it's hard and all that. But you know what? If you just start looking at the positives in life, I think we have a million times more positives in life than we have negativity.
Peter Leckemby (12:53)
Yeah, negativity sales, negativity grabs attention really quickly. Hey, what's the problem? And, you know, there's, there's a great lesson in marketing is really on focusing on the problem that the person has to solve and getting into that, into that conversation in their head. I think that's, that's the starting point, but you know, creating that positive future state and you do that so well. I want to go back speaking of kind of riffing on risk a little bit. I want to go way back.
to your coming to America in the first place and landing how you ended up coming to America and then landing in Denver and going to DU. I love that story and I think that's something our audience would love to hear.
Sverrir Ragnarsson (13:21)
Okay.
Yeah, so like we talked about having difficulties in life and stuff like that, I actually had a lot of difficulties when I was a kid. Of course, I grew up in a great family. We had everything we needed and I was supported by my parents and family 100%. And I was doing great in sports, doing great in school, but there was one thing that I never did good in.
And that was I didn't speak English. I could not for the life of me learn English. And I have a lot of people that can testify that. But I managed to get through school and graduate. And I always want to go to the US. So one day I decided to go to the US and study English. And I came here in, it was in the beginning of year 2000, no, 1992.
That actually going to age me a little bit here, but I look 30, right? Exactly. it was in, yeah, 92, I came to Boulder. Boulder was the first place I stayed in in the U .S. And I came here to study English, but also I was a good soccer player and I really wanted to study here in the U .S.
Peter Leckemby (14:37)
Yeah, youthful, youthful glow.
Sverrir Ragnarsson (14:58)
And I already got offered a scholarship from a school in Myrtle Beach, South Carolina. And I did turn that down. So I was actually open to, Hey, what can I do? And then I was here in Denver or actually in Boulder looking for schools. And DU is probably one of the best international business schools in this nation and then on the planet. And I was just, I want to get to that school, but there were two big hurdles there.
I didn't speak the language, did not have the money to go to the school. And it's kind of ridiculous for Icelanders to go to school here unless they get scholarships. Because we get school for free in Iceland. And those are pretty good schools. I had to figure out, okay, I have to learn English. That's a big one. Then I have to figure out how can I actually get into the school. And I found out that DU actually have a good soccer program. So I made a decision.
Peter Leckemby (15:42)
Yeah.
Sverrir Ragnarsson (15:57)
That's another courage -bold decision that the chance was very big that I would get the word no. But I took the chance, walked into the office of the soccer coach, spoke terrible English, and introduced myself. My name is Sverrir Ragnarsson, and he just looked at me and just, what did you just say? Well, I didn't have a nickname at that time. And it was very early. And I told him, I'm a good soccer player. I'm a really good soccer player.
And do you want to give me a scholarship? And he just looked at me and said, no. And I was just kind of, I don't understand this. I mean, I'm really good in soccer and you just say no straight out without even knowing and seeing. And he was just, yeah, that's what I said. So yeah, no, I don't want to give you a scholarship. And I was just, I don't understand. Why, why don't you want to do that? I didn't give up. and he said, you know what, Shred. Actually, he didn't say Shred. He didn't say my name. You know what?
here in the US, the kids don't recruit the schools, we recruit the kids. And I was just, yeah, but I'm from Iceland, there's not much chance that you could have seen me play. So you don't even wanna see me play? And he was just, you know what? You're not gonna give up, are you? Nope. And then, and say it again, persistence. And that's what he said. He said, you know what?
Peter Leckemby (17:13)
Persistence. Persistence.
Sverrir Ragnarsson (17:19)
Since you're this persistent in this, I would love to see you play soccer." And he said, can you show up tomorrow morning at nine? I was just, yeah, I can do that. So I didn't even drive to Boulder back. I stayed in Denver. So I showed up on time, actually a lot ahead of time. So I was warmed up and everything before they, and I played and he liked what he saw. And he said, you know what? I like what you saw. would like to give you a scholarship, but I can't right now.
And I just like, why? Because you don't speak English. So go and learn English and come back. And then that's what I did and I started school in the fall of 92.
Peter Leckemby (17:58)
Wow. persistence, tenacity, go, you know, you don't have the skills right now. You know, when a lot of business owners, start their business, they may not have certain skillsets, whether that's marketing, whether that's finance, managing, you know, expenses, a P and L. Obviously you can learn so much so fast now with the technology we have, whether it be just, online, Google, YouTube. Now with, AI, you've got
Sverrir Ragnarsson (17:59)
You
Peter Leckemby (18:24)
tools like Perplexity, ChatGPT, so many tools. There's really no excuses for not being able to learn a skill and at least start making progress towards what you want. Great story.
Sverrir Ragnarsson (18:36)
Yeah, but one thing that I really want to add to this one, and it's just for the people that have some kind of disabilities. I am actually dyslexic, so I didn't speak the language dyslexic. It was so hard in the beginning, but you know what? With hard work, things happen. And I speak okay English today, right?
Peter Leckemby (18:58)
Incredible English. know, English is my native language. It's the only one I speak fluently and sometimes I mess it up pretty bad. So as we as we talk about this, you you think about the business, you've expanded your products to what you're at right now. You've overcome quite a few different challenges. What are some of the biggest challenges you're working on right now? What are some struggles that you're you're seeing right now in your business?
Sverrir Ragnarsson (19:06)
And you know what? That's just okay.
Actually, a big struggle is that I am writing a book and I have the biggest procrastination on that because I'm busy in my business and I am just terrible about prioritizing that. just because we're talking about this today and
It's gonna be published. A lot of people are gonna see, you loser, you're just procrastinating here. It's gonna push me to actually finish the book. And I'm writing this book about the experience that I was just talking about. And the book is gonna be called The One Question, which is just focused on how one question can actually change your life. And it's not that just one question. I mean, I've given you two examples with questions.
changed my life. Then of course getting into DU and then getting into door training and being able to train at Microsoft and some other big companies. I mean, it was just a question. Yes, I was cocky. I was really cocky and self -confident. Hey, I am a really good one. Can I work for you? I mean, that's another question that actually changed my life. So this is going to be all focused on
How do we actually move forward with asking questions? Just without being afraid. Are people going to say no to you? 100%. Does life go on, 100%.
Peter Leckemby (20:45)
Yeah, it's the idea of in the beginning versus over time in the beginning when you first start writing, whether it's a book or, anything that you're trying to do marketing, it's hard. You suck at it in the beginning. The first time you stand in front of an audience and have to talk to them, you suck at it. The first time you go to a sales pitch, you suck at it. The first time you manage people, you suck at it. And then over time you get better. It just takes practice. takes repetition and
Sverrir Ragnarsson (20:55)
Cool. That's all.
Peter Leckemby (21:11)
It's like working out and building those muscles. You've got to get repetitions. You expand your comfort zone. You expand your capabilities and your capacity. And as you do that, you get bigger, you grow, you're able to take on more and handle more. But I think a lot of times, you know, fear holds us back or hesitation. Procrastination, isn't just procrastination. You got to get at what's behind the procrastination.
Sverrir Ragnarsson (21:34)
Yeah. And I can tell you what it is in my, it's, you just said the word, it's fear.
Peter Leckemby (21:34)
You know, it's, is it that you're just busy?
Fear of what? In your case.
Sverrir Ragnarsson (21:40)
fear of, because I'm dyslexic, it's fear of not doing it right. kind of, of course I'm going to have people that are looking at it, but it's just the fear of, yeah, not, being good at it and, and, and doing it right. And I know this, I sucked at everything when I started, but I mean, I can, I can tell you one thing. Once this book is over, I'm going to write another one. That's it's guaranteed because I have the experience.
Peter Leckemby (22:03)
It's a mindset. You've definitely got the mindset. So you're working on your book and I'm not going to put you on the spot and have you tell us when we can count on that being out so we can... well, there you go. Thanks for jumping in on that. And I guess, yeah, well, this will be hitting out there by the end of September. So that gives you the fourth quarter, right? Which I think is a great transition for us. Here we are, we're approaching the fourth quarter of the year and this is...
Sverrir Ragnarsson (22:13)
Before Christmas. Please put me on the spot.
Exactly.
Peter Leckemby (22:32)
A lot for a lot of people, this is some of their busiest months, but then you get between Thanksgiving and the end of the year and so many people start to shut it down. They start to coast. They get busy with holidays and family and friends. What would you say to those business owners that maybe you're thinking about that and going, you know, it gets really quiet. Obviously, if you're in a retail business, restaurant business, a lot of times the holidays are some of your best times. But for a lot of, you know, professional services or other businesses, they kind of shut it down during that time. What would be some advice you'd
Sverrir Ragnarsson (22:54)
yeah.
Peter Leckemby (23:00)
you'd share with us folks.
Sverrir Ragnarsson (23:01)
I mean, I'm actually in the perfect business that you're talking about. actually mid December shuts down until kind of beginning of January, mid January. And this is actually the time that you should be really focusing on educating yourself and also using that to take a break to actually come stronger into because this business can be crazy. I mean, I'm starting at five o 'clock in the morning, coaching people in Iceland and Europe and all that. Then I keep going and do the
to the US market here in the late morning and then into the afternoon. And we need to take a break. We need to slow down. We need to actually use the time to read, use the time to educate yourself, use the time to actually check out and completely come 100 % back into the business when you start again. That's my advice. But what I do, as you know, and...
is that I go sometimes to Iceland at that time to sell clothes because that's my way of checking out.
Peter Leckemby (24:06)
cathartic, you go back home and get into selling mode.
Sverrir Ragnarsson (24:10)
Yeah, get in the selling mode on and work with my family, my dad and my brothers. And so it just gives me a lot of energy. Even though it's a lot of work in December, it's just so much fun. You get to talk to the clients. You get to meet all the people that you knew when you were a kid. And they come to the store and talk to me and they say, hey, are you in town? We have to meet. Yeah, well, come to the store. I'm working. I meet all my friends in the stores. Yeah, exactly.
Peter Leckemby (24:17)
Yeah.
your hangout time. Well, I think there's a couple really great lessons in there in what you just said. mean, number one is you've got to focus on yourself. You've got to grow. If you don't grow the business owner, it's hard to grow the business. You're not going to get a business that just is way more successful and outgrows you. You're the limiter as the business owner on your business. So that's a great lesson is focusing on your own development. But
Checking out doesn't mean you shutter the doors either. I think it's a great time to practice what you're learning. If you're studying marketing, what are some offers you can do when everybody else is shutting it down to prime the pump? Are there special offers? there, stack products and services or extra services? Are there new services you can launch during that time to keep your business thriving? You know, I got a good friend we're going to have on here and talking about landscaping.
When the lawn starts to die, the snow starts to fall here in Colorado and people need their snow removed. So it's how do you build year round success into your business, even when you are maybe not delivering something as in a service business like yours.
Sverrir Ragnarsson (25:30)
Exactly.
Yeah, because in my business, it's a lot about educating yourself, bringing in something new when you come back and have a different take on it and really learn all the ways of doing it. mean, as you said, I'm almost 20 years into my business and I am still buying a lot of training myself every single year. I spend a lot of money on training for me.
Peter Leckemby (25:49)
Yeah.
Yeah, but you put it to work. You put it to work. You're not learning for learning sake. Learn something, go apply it. What can you do? That's really the closing the gap, right? There's something called the forgetting curve. You could go watch a video on YouTube. You could go take a class. You could do a lot of things, but if you don't put it into practice, you're gonna forget that. So it's close that gap.
Sverrir Ragnarsson (26:08)
educating myself. Yeah, so.
Exactly. Yep.
And it's also interesting because a lot of people think reading a lot of books is going to help them. Yeah, of course, reading, please read as much as you can, but read something and apply it. I don't read 20, 30 books a year. I read maybe two or three of them or maybe five. And I try to apply those things into both my business and my life.
Peter Leckemby (26:51)
So favorite book this year, what's been the most impactful that you've actually applied in your life?
Sverrir Ragnarsson (26:57)
Actually, there are two books. So one of them is called Tiny Habits. There's a program, so I'm also being certified in that. And it's just really interesting how we develop habits. And then one of my favorite right now is The Gap and the Gain. And it's just, are we living in the gap or are we living in the gain? I just love that. And living in the game is when you're actually celebrating your little successes.
and living in the gap is when you actually reach some point but you're unhappy because you didn't reach all the things that you wanted.
Peter Leckemby (27:32)
Yeah, business owner, you know, you're, you're at $250, $300 ,000 in revenue right now, and you want to be a seven figure business. You want to get to that million dollar threshold, right? That's, that's that magical next number. And if that's all you focus on and you're always focused on the gap, you forget that you were at $300 ,000 and now you're at $680 ,000. You've more than doubled your business, but you, you're not living in that gain. You're living in the gap and you're like, I fell short. No, look at where you've come. And, and it's, it's so important. That's a great mindset.
Sverrir Ragnarsson (27:40)
Okay.
Exactly.
Peter Leckemby (28:02)
So how are you living in the gain right now?
Sverrir Ragnarsson (28:03)
How am I living in the gain? I'm celebrating all the successes that I do. And I actually, one thing that I do at night is that I write down what are my three successes today. Of course, sometimes I have a lot of them, but what are my three successes? And I can tell you one of my success tonight is going to be, hey, I got on a podcast with my friend Pete and we did it. That was a success. So even though it's your podcast, it's a success for both of us because we did it.
Peter Leckemby (28:27)
Yeah, huge success.
Hey, well, people are hearing about how talented you are that if they need a soccer expedition or at least learning how to speak Icelandic, they've got a friend. But no, just tremendous talent able to help them in so many ways. So, my goal is adding value to the guests on this as well. Something to keep in mind, I teach a couple different things, but at the end of the day, it's called complete your EOD report and it's evaluate your life, right? There's a wheel of life, there's six categories.
Sverrir Ragnarsson (28:33)
you
I'm
Peter Leckemby (29:01)
There's a variety of ways you can do this, but how are you doing in each of these six areas? And that allows you to review, hey, you know what? My business is going well. I've had a great week in the business. Each day has been a win, but you know what? I haven't spent any time with my kids or my spouse. There's been a little bit of neglect there. I've got to do a better job. It gives you a chance to evaluate those areas and course correct within 24 to 48 hours. Whereas some people may only look at that, it's New Year's. I guess I should look at my life and see how I'm doing.
It was a great opportunity to take the end of the night and go, hey, what are your wins for the day? And are there some places where you want to put some focus tomorrow?
Sverrir Ragnarsson (29:40)
Yeah. And a lot of people always say, awesome. And I do that too. Write down gratitude, what are you grateful for? But this is really focused on what are your wins. That's the most important point here. What are the wins today? To see, I mean, see what you did well today. I mean, you can be grateful for a lot of things. It doesn't mean that you did well. So it's just really focused on all the good things that you did during the day.
Peter Leckemby (29:56)
Yeah.
Yep. Yeah, I suspect a lot of our listeners out there, if you've got a business, you've probably had some wins. It's keep your eyes on that.
Sverrir Ragnarsson (30:09)
Totally, I mean we all start with zero. I mean when we woke up today
Peter Leckemby (30:13)
Maybe that's a good mindset too is, start your day at zero each day, reset. You know, if you had a big win yesterday.
Sverrir Ragnarsson (30:19)
and then it resets automatically because you just woke up. You haven't done anything.
Peter Leckemby (30:22)
It's true, that's a good point. Yesterday's wins are yesterday's wins. You can't carry them into today.
Sverrir Ragnarsson (30:28)
Exactly.
Peter Leckemby (30:28)
So your biggest goal you have maybe for the next one to two years. I know you talked about your book, but that's by the end of this year. So what's the next mountain to climb over the next 24, 48 months?
Sverrir Ragnarsson (30:37)
So it's actually a little bit further than next two, well, I'm gonna say it in two, three years, I wanna 10 times my business. 10X my business. It's because again, another book that is just awesome and I'm actually going through that program myself is that 10 times is easier than two times. It's a brilliant thing.
Peter Leckemby (30:46)
10x. I love it. Okay.
Now a lot of people are listening to that and they're going, yeah, I don't agree with that. I'm not on board. Tell me more about that. How is 10x better than 2x?
Sverrir Ragnarsson (31:06)
It's because a lot of times when you're 2Xing your business, you are actually really focused on doing all the things by yourself. You're just putting more effort and more work into it, which is great. But when you're 10 times your business, that's when you start thinking about how can I automate some things? How can I get some other people to do some of the work? And you focus on all the things that you are great at.
I'm, for example, I'm really good at connecting with the people, talking to the people, coaching the people, but there's also great people there too. So we have to really think into the 80 -20 % rule and figure out who can actually do this job so I can keep going and doing the big thing. So a lot of times you're working less when you're kind of making a business 10 times bigger than two times, because if it's two times, you are very much focused on doing it yourself.
So it's really figuring out how can I bring revenue or the number of people. It doesn't mean when I say 10 times, it doesn't necessarily mean that I'm 10 times the revenue. Of course I want that. But it could be, I want to reach 10 times more people than I'm reaching today. I want to train more people than I'm reaching today because well, my mission here is to make this world better one person at a time. And hey, I'm still doing it.
been doing it for 20 years, I'm going to succeed.
Peter Leckemby (32:33)
All right, so we got you accountable for getting a book out this year and 10X your business.
Sverrir Ragnarsson (32:36)
I kind of want to change the world too. Hey, I'm in. I'm game.
Peter Leckemby (32:40)
Hey, you've changed your world for sure. So 10X, you know, it's a great point though, as a business owner, looking at, profitability, we have a saying, revenue feeds your ego, profit feeds your family. at end of the day, as a business owner, you got to be profitable. So, 10Xing your business is great, but you want to 10X your business and maintain or increase your net profit margins, right? Otherwise,
Sverrir Ragnarsson (32:43)
Exactly.
Yeah.
Peter Leckemby (33:04)
if you 10X your business and run 1 % razor thin margins, it's not sustainable and you're going to be exhausted, burnt out, frustrated. So as a business owner looking at your, your net profit, what's it at today? And you know, we have a way we talk about doubling your net profit. If you're at a 10 % net profit, we have the five by five and a half rule that I am, that I share with prospective clients that helps them literally within 30 days, double their profits.
And if you're at a higher profit margin net, you might not double it, but you'll get very close and you're to have significant increases. And it doesn't take any more effort. Here's the thing that I think that helped business owners understand is there are certain levers you can pull that take no more effort that just put a ton of cash in your pocket. And with all the economic pressures that are out there in businesses today, how do you run higher margins? If you're in the service business, if you're in,
Sverrir Ragnarsson (33:51)
Thank you.
Peter Leckemby (34:00)
Home services, if you're in restaurant, you've got so many variable costs, it's hard to run higher margins. If you're just selling knowledge products, you should be running 90 % gross margins, probably 70 % nets, but it's a lot harder when you're in different business models. So thinking about that strategically, it's one of the things I like to do with my clients is find a way to double their profits. I like to say, we're gonna help you turn nickels in quarters. that's 5X, it's not quite 10X.
Sverrir Ragnarsson (34:25)
Like that.
Peter Leckemby (34:29)
but it's the starting point, right? And it's getting in there.
Sverrir Ragnarsson (34:30)
Exactly. Am I gonna reach it? If I don't reach it in three years and I've just five times my business, I'm gonna be happy with that. Exactly. yeah. Well, I'm a strong believer. Aim very, very high and just try to get there. And if you get half the way and it was really high, you're so much further than you are than when you started it. Yeah.
Peter Leckemby (34:37)
darn. darn.
Yeah, that's the gain. Great lessons though, I think is you're aiming high and you're working hard and you will see that gain and then you reflect on that. You celebrate those gains. I think that's an important thing to keep in mind. growth is a beautiful thing. mean, if you're looking, whether you're looking to scale your business significantly in 10X it, or you're just looking to grow it and get it to a place, some business owners are looking to just...
build it to a place where it is just them or it is just them and their couple employees or a family -owned business and just have it there. Great. Let's see how we can build the operational systems so we can automate as much as we can. We can make things as simple as we can so that you have time to enjoy the fruit of your labor and you're not killing yourself in the business.
Sverrir Ragnarsson (35:43)
Exactly. And also what I'm thinking when you're saying this is that a lot of people think, hey, Shred, you're doing fine. mean, financially you're good and you're doing fine. You're happy. You have time for your kids and all those things. And I get this question all the time because my job is to push people and get them to be better than they are today. I always get this question, Shred, can we never just stop and be happy where we are?
Yeah, you can do that if you want to but the world is moving so fast if you want to keep being where you are Then you have to actually keep running and moving fast with the world So just never ever stop doing things because the world is gonna sprint away from you if you just stop and get complacent and comfortable
Peter Leckemby (36:29)
yeah, we're growth oriented as beings. We are oriented towards expansion and growth. And there's stagnation, right? If you stop moving, you lose momentum, you stagnate. If you're not growing, you're dying. Or perishing is probably the appropriate word, but it's super important. Yes, you should rest. We're not built for running full steam all the time. It's not a sprint, it's a marathon. And you get...
Sverrir Ragnarsson (36:55)
Yeah, and that's what I meant. It's just kind of drawing yourself throughout the end. Part of drawing, like I said, December for me is a slow month. So, yeah, learn.
Peter Leckemby (36:59)
Yeah.
Yeah, it's a learning month. Yeah. Excellent. Well, so we've shared a lot of things, people are getting to know you, understanding you a little bit. We've talked about some advice for business owners, ways that we can grow them. We've talked about your big goals and the importance of having those big goals. What's something business owners should know that maybe they don't know? What wisdom would you share?
Sverrir Ragnarsson (37:27)
Hmm, that's a good one. What they should know... Well, I mean... What they should know that they don't know. Well, I think most people actually know this, but they stay away from it. So it's just...
Peter Leckemby (37:35)
Yeah.
Sverrir Ragnarsson (37:44)
Go after the no. Get the no because in my I believe that when you get the no in business you can actually have a conversation with the people then and say okay I got the no why why did I get the no and then people start telling you and giving you information that you are really kind of you didn't have before so they you got the no in this situation because you were not this this and this I learned something when I got the no there so
Actually, don't be afraid of the no. Actually, go after the know more often than you do. Because a lot of people, I mean, since we're talking about questions, a lot of people don't ask questions because they think it's a stupid question or they're going to be rejected or they're going to be this or that. You never find out unless you ask.
Peter Leckemby (38:31)
You have not if you ask not.
Sverrir Ragnarsson (38:34)
And I have a theory that I learned from a good mentor of mine that actually said, if you get the word no, is that a rejection? And I'm going to say no, it's not a rejection because before you asked, you didn't have what you asked for. And after you asked, you got the no, you still don't have it. There's nothing that changed. So what's the rejection here? The only thing that you could have gotten there was
The gain. You asked, either you got it or you don't. If you didn't get it, you're in the same spot as you were before you asked.
Peter Leckemby (39:09)
Love that advice. And they're not rejecting you. They're rejecting the idea. They're rejecting the service. They're rejecting themselves. It's not necessarily a rejection, which I think is an important lesson for business owners in selling too. As no matter what we do, whether you're an employee working for a big company or you're on your own, you have to be good at selling if you're going to be successful. And you're always selling something, whether it's your product or it's yourself, your reputation. So I think chasing that no is a great sales tool.
for sure.
Sverrir Ragnarsson (39:38)
Yeah. And every person on this planet is a sales person. Ever since we were born, we were trying to sell something.
you have proven the value in the product before or too.
Peter Leckemby (39:49)
Yeah, but that rejection, I remember my first sales job. It was commission only sales. Like if you don't sell, you don't eat. That pit in my stomach going out and those first cold calls, those first conversations, the fear of rejection. And a lot of it, some of it was lack of belief in myself. Some of it was lack of belief or really understanding the product. Some of it was lack of just understanding that no, isn't a rejection of me.
The no is a rejection of the offer and getting better at that. But it was a muscle I had to build. Tell me about how you, when you're coaching and teaching people sales, how do you help them build those skills?
Sverrir Ragnarsson (40:28)
So I really get them to understand that they actually have the responsibility for their success. I try to get people to understand that we take 100 % responsibility for our outcomes. of course, like in sales, salespeople are masters in making excuses.
But I can tell you the best ones, they are the ones that actually make the least excuses because they take it on them and really, I could have done it differently. I could have done it better. I could have asked this question. And it's not that they're tearing themselves down. They're just learning from every moment there. So it's a lot about taking responsibility. It's a lot about one thing that I love is courage. And another thing that I love is persistence.
So it's take responsibility, show courage, go out of your comfort zone, try something new. Make sure if you don't get the sale, yeah, the market might be, or inflation might be this, or like in COVID, when I was training salespeople, the supply chain is yadda yadda yadda. Of course it is, it's for everyone else on the planet. And so move on, someone is succeeding. Doesn't matter if the supply chain, interest rates or whatever, there's always someone that is succeeding.
And that's the one that takes 100 % responsibility for their outcomes. Shows courage and persistence.
Peter Leckemby (41:51)
I love that. I saw somewhere on social media, it was a post that said, somebody with half of your talent is making twice as much as you.
Sverrir Ragnarsson (41:59)
Exactly.
Peter Leckemby (42:01)
Yeah, overcoming that fear of rejection. I love that. We're all selling all the time. Some of us are just better than others at it. it's also, it's matching product fit to the market. Who are you trying to serve? What problem are you solving for them? Cause then you're not having to be a pushy sales person. You're just literally finding out about the customer. What's their problem, showing them how you can solve it and why they should trust you. And that know like and trust is a really important factor.
Sverrir Ragnarsson (42:26)
Yeah.
and creating value for them. That's very important.
Peter Leckemby (42:30)
Yeah, absolutely, absolutely. Well, I love that. Shred, this has been an awesome conversation. think everybody's gotten a ton of gold out of that. So I just super grateful for the time. I know you've got a lot going on and you've got a book to go get finished. just very, very grateful for the time here. If you could ask anything of the folks that will be watching and listening to this, what would that be?
Sverrir Ragnarsson (42:54)
I'd like for everyone to ask themselves, how can I become a better person? And how can I understand different views of point than I have?
Peter Leckemby (43:04)
That's a great ask. Well, I'll tell you what, you guys can find him on LinkedIn, you can find him on Facebook, you can find him everywhere. He posts a video every single day. He's done over a thousand of these videos and always some great wisdom and motivation, inspiration to get you started for the day. So Shred, thanks for being here, my friend. This has been the Business Growth Blueprint. Thank you to everybody and we'll see you in the next episode. Take care.
Sverrir Ragnarsson (43:29)
Thanks my friend.