3 Ways to Leap Your Income With Leverage
This week’s video tip is all about how to add more leverage to your business.
In my time working with small business owners, I’ve realized that their needs and goals change depending on what stage they are in in their business. In the start-up phase, especially the first 12-18 months, the priority is simple: it’s about getting clients and bringing in revenue.
But once they build up that client base, priorities start to shift, and it becomes more about ensuring that growth continues. And there comes a point that without leveraging your time and talent, growth cannot be sustained.
So today, I am going to give you 3 great places to start when you’re ready to add more of that leverage in your own business. In a nutshell, these 3 areas are:
1) Groups: The key is to ask yourself, “how can I serve MORE people without necessarily adding more to my workload?” (This can include creating group training or coaching programs, but high-level groups such as Masterminds are especially good because they can be so lucrative.)
2) Team: You have probably heard it before, but you need to focus on your “genius work” and delegate the rest. It may be an investment up front to hire an assistant or bring on a team, but the rewards can be tremendous. (Less work for you and more revenues in the long run.)
3) Content/Products: Packaging your knowledge allows you to clone yourself, serve more people, leverage your time AND create additional streams of revenue. Nice, huh? A great place to start: creating your own signature system.
Your to do: Where can you start to add at least one form of leverage in your own business? Take a good look at how you are currently doing things.
Does it make sense to add another team member so you can get more off your plate? Is there content you already have that you can leverage by turning it into a product? Or maybe it’s time to create and launch a group program.
The point is to just start somewhere. I guarantee, once you get a taste of the way this type of leverage creates more income by way of you actually working LESS, you’ll be hooked.
How do you use leverage in your own business? Where could you use more of it? Let me hear from you in the comments!
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