Ready, Fire, Aim is a practical guide that includes step by step instructions on growing a business from $0 to $100M+ and how to handle the challenges along the way.
He states four priorities (in order of importance) (1) identifying your target market; (2) quickly developing a product to sell to that market; (3) discovering your optimum selling strategy; (4) actually selling product.
Masterson is very practical with his recommendations. This book can help any intra/entrepreneur take advance their business.
Masterson’s main idea for the book is that there are four levels in building a business:
- Infancy: This stage is from zero to $1 million in annual revenue. This stage is where you come up with an idea, implement it, and generate positive cash flows.
- Childhood: This stage is from $1 million to $10 million in annual revenue. Along the way, the business transitions from break even or low profitability to $1-$2 million in annual profit.
- Adolescence: This stage is from $10 million threshold to $50 million in annual revenue. At this stage, the annual profits should range between $2-$5 million.
- Adulthood: This is the final stage where your business should grow past the $100 million in annual revenue mark.