Increase Business Profits by Leveraging Your Time
How many of us dream of ending the cycle of trading time for dollars? The truth is, just about all of us. We work a ton of hours at the beginning of our businesses so we can reap the rewards later. Instead, most of us head for burnout.
I know I did.
My first year-and-a-half in business was a real eye-opener. I worked 12-14 hour days, seven days a week, for weeks on end. To put it mildly…I was overwhelmed.
I realized that I couldn’t keep up that pace for long or I was facing burning out before I even got started.
We go into business to enjoy life – not be trapped by our business.
For me, I needed to learn a new concept called leverage which is the ability to create massive results with the least amount of effort. Think of the 20/80 rule – 20% effort produces 80% of the results.
I learned three tips that transformed my entire business. I was able to stop working long days and to start enjoying workweeks of 3-4 days instead of seven.
Want to know the best part?
I was still able to do what I love, serve my clients, and make a great income…all without being stressed out.
It’s time for you to get off the hamster wheel and take advantage of leverage. Here are three tips to help you:
Tip #1 – If you do it more than once, systemize it.
Remember a system is a set of specific steps you follow to render a predictable outcome. As an entrepreneur, a system will create free time for you. It frees up your mind. You don’t have to figure everything out. Instead, you can just get the result. Automating your workflow can generate consistent, even predictable, income.
For example in my business, we utilize a variety of systems like our marketing our advanced course, on-boarding a client, evaluating interview requests and preparing for a program launch.
The advantage for us? These systems cut planning time by 75% and reduce mistakes by 90%.
Even better? When you use systems, you have more time to use your brain more productively!
Tip 2 – Utilized highly leveraged packages in place of one-to-one offerings.
When you create a package of your offerings, you can service more clients in much less time. How you do this varies. For instance, you can sell a block of time at a small discount, serve multiple people at once, or package your knowledge and processes into downloadable products.
Start by discovering ways to repackage how you deliver your best services, so you spend less time in one-to-one scenarios.
It can be challenging to believe you can leverage your time when clients are paying for you. My suggestion, after mentoring over 5,000 entrepreneurs, is to find those activities you do over and over for different clients. If you still aren’t sure how you can leverage your services, be open to explore options or hire a business coach for a strategy session.
Tip 3 – Take those high impact activities and delegate them
This can be the hardest tip for an entrepreneur, but it can also be a crucial step to recouping more of your time for more significant payoff activities.
The quickest way to become a bottleneck in your business is to continue doing those activities that someone else can do better, faster, or cheaper than you.
One way is to let go of those activities you hate doing or don’t have time for but really help your business. Consider first getting rid of those routine that you can systemize first because you'll be able to easily control how well they are done.
Stop trading time for dollars. Restart your income growth by putting one or all three of these tips into use. When you do, you’ll notice the value that leverage has on your bottom line…your income will grow as you work fewer hours!
If you’re ready to put leveraging to the test, but you’re not sure where to start, click here.
- Delegate and Simplify Your Small Business Life - July 11, 2018
- Teach Your Team How to Problem Solve - June 6, 2018
- Increase Business Profits by Leveraging Your Time - May 24, 2018
CLICK HERE to discover the 10 Fastest Ways I've Personally Used For Over 1,092 Change Makers, Thought Leaders and Visionary Entrepreneurs to Quickly Increase Cash Flow (And Develop a More Profitable Business).
Top 10 Quotes from Melanie Benson:
- You can’t achieve your next level of success the same way you got to this level. Bold visions require new rules.
- Everything you say yes to means you are saying no to something else. Be sure you are saying yes to the right things.
- Delegate anything that someone else can do better, faster or cheaper than you.
- Leadership activates the most powerful and sustainable growth force in an entrepreneur.
- Radical leverage keeps the entrepreneur focused on the activities only they can do.
- A profitable business is the result of optimizing what you’ve spent countless hours creating; instead of spending countless hours creating more stuff.
- The quality of your results is based on the quality of your decisions, which is influenced by the quality of your mindset.
- Being busy keeps you in motion. Being productive drives profitable results. Know the difference between busy and productive.
- When you simplify your business, you can quickly multiply your results because you’ll have time to make your best offerings perform better.
- Unlimited resources are available when you are in right action – that’s when the fire inside propels you into outcomes you can’t see but are always there.