How This Everyday Family Man Went From $1 Million Annual Revenue To Over $16 Million In 3 Years In One Of The Most Competitive And Disrupted Industries In The World!
The Problem: “The industry was on a decline, it was a struggle to pay the bills and continued to question if starting a business was the right thing to do…”
When Sunil started he had a lot of self-doubt and struggle due to the testing times of the economy. He continually asked “is business right for me, I’m just a nice guy”.He had the impression that to be successful in business you needed to be greedy and able to take advantage of your staff to get the most out of them.Not only that, but everyone around him brought his confidence down with comments like “why are you doing this. You just shouldn’t do this. This is too hard. You need to do a normal job. You have kids to take care of”.
It was hard.
To top it off, at the very same time he had 2 key staff members leave which made it even more difficult to bring in enough revenue to cover the business costs. Nobody wanted to work for Sunil in the early days because his company was ‘too small’.
They could go anywhere else and get a better salary at a more recognisable brand.
Sunil would go home to try and fall asleep, but in his own words, he wasn’t really sleeping. His head was constantly thinking, always wondering what’s happening with his business, should he continue to do this for the rest of his life or should he give up and enjoy life like how all of his other mates were doing.
When Sunil joined The Entourage the first thing he noticed about the team was the culture. He saw the excitement and ownership everyone within the team had. It was part of the company’s DNA. He realised that it was one of the key factors that drove the business on a day to day basis.
For Sunil, it was a “feeling that he would never forget.”
He took time and made an effort to connect with all of the leaders and vision partners you gain access to in The Entourage membership. Coming into the workshops it allowed him some ‘breathing space’ so he could work ON his business instead of IN it.
What Sunil didn’t expect though, was the deep subject matter education he got for the other parts of his business as well. He learned about how to make offers to his clients that amplifies buyers acceptance and he started generating more revenue.
He learned how to structure his business effectively to reflect his growing company and need for hiring more staff in a way where it wouldn’t jeopardize his company.
Sunil was also able to make friendship and business connections with other thriving entrepreneurs. Many of those people he still has business partnerships with today for his book publications and legal work.
He understood that when you’re around a like-minded community they help to lift you higher and realise your own vision.
What was the the biggest key learning point Sunil had to scale from $1 million to $16 million in 3 years? Here is what he had to say:
“I think you need to be well connected with your people, with your team. In the early stages when there’s only one, two or three of them, the best thing to do is to look after them because there are better offers for them out there.
Others can offer them $10,000 more in salary which can be attractive. Everyone needs money, but why are they going to stay? They’ll stay because you’re looking after them and you have their best interest first.
Even before yours sometimes and you’re committed to their success before yours so you put them first. The second thing is you need to lead by example. That’s one of the mistakes that I see a lot of early stage entrepreneurs make.
They just want to say okay you do this, you do this and then over time they stop doing what they’re supposed to be doing. You have to be the example you set for your team.”
In 2015 Sunil Kumar’s company was at 15 staff, 1 office, 200 sales per annum and $1.2 Million in revenue. They were almost completely unknown, nobody was coming to them for business and it was all about hustle and entrepreneurial grit.
Fast forward just 3 years later they grew to over 100 staff members, in 7 offices all over Australia, over 1,000 sales per annum and $16 million in revenue.
Over those 3 years they won dozens of awards including AFR #1 Fastest Growing Real Estate Company and AFR #8 Fastest Growing Company overall.