What is the flywheel effect? How can you use it to grow your business?
The flywheel effect happens when small wins for your business build on each other over time and eventually gain so much momentum that growth almost seems to happen by itself. From a mechanism perspective, your company is one large flywheel, composed of many micro flywheels, including financial, marketing, sales process, internal review, etc.
A flywheel can be broken down into a number of steps that have a time frame duration to help you accomplish and measure the effectiveness of your processes with specific KPIs. As you begin to automate parts of your process, the duration it takes to complete your flywheel will shrink.
In this video, John Lincoln will teach you what a flywheel is and how you can use them to help your business flow.