If you want a business that eventually runs without you, you’ve got to start leveraging the things you have in your business right now.
There’s a reason why many business owners remain stuck in one place:
They keep chasing things that they don’t have.
Instead, they run after every little shiny thing, like fancy systems, new offers, and more clients than they can take. As a result, they fail to leverage the things that they do have, like their best-selling offers or their best clients.
Little do they know, the things that will help their business grow and scale much faster are already well within their reach.
In this article, we’ll take a look at five things inside your business that you can start leveraging today so you can build a sellable business that runs smoothly even without you.
The Five Things All Business Owners Must Leverage
You don’t need many new strategies to see your business improve. To see massive results, you can simply get better at what you’re currently doing. Here are five key things you can focus on right now to start seeing those results:
1 – Time
Here’s something you need to realize as a business owner:
If your calendar for this year looks just like last year’s, you’ll just get last year’s results.
So, if you’re looking to scale, you’ve got to find ways to open up more of your time. At some point, you’ll need to remove some things off your plate and transfer them onto someone else’s.
Believe it or not, even things like leading team meetings, working with clients, and doing CEO-level tasks can be delegated. You just need to afford your team enough trust and enough training to be able to do these things on their own.
If you could take more of your time back, you’d be able to work on growing your business, instead of merely working for it.
2 – Money
I am all for spending money in your business. What I’m highly against is wasting money. So, to distinguish between the two, I want you to constantly ask yourself:
Is this a revenue generator or a mere expense?
For instance, buying the latest iPhone and writing it off as a business expense even though you still have a perfectly working phone is not a revenue generator. It’s just an expense.
A lot of business owners these days are taking “write-offs” to an entirely different level – and it’s keeping their margins low.
So, to leverage your money, I encourage you to pop open your credit card statement and look at every purchase you made in the last 30 days. For each item, ask yourself if it was a revenue generator or a mere expense.
And before you swipe that card again in the future, keep asking yourself the same question.
3 – Team
When business owners think about leveraging their team, they think it’s always about hiring more people.
That’s just not true.
This may be harsh, but you need to leverage your team like you leverage your money. That means for every single person in your team, ask yourself:
Are they a revenue generator or a mere expense?
You probably already know who is what.
So, take a moment and assess each person on your team. If you see someone as a mere expense, put them on a time audit to see what’s going on.
Keep in mind that someone who is currently an expense can turn into a revenue generator but they’d need your help. So, come up with a new plan of action to get them to become a revenue generator. Perhaps, a performance improvement plan would help them.
On the flip side, just because someone is a revenue generator doesn’t mean you could freely overpay them. Remember that payroll is most likely your biggest expense. So, make sure you are spending your money wisely.
You shouldn’t let your bonus structures get out of hand. If possible, have commissions and incentives built into your team’s base pay so you can share the wealth with everyone who’s producing revenue.
4 – Best Sellers
Success always leaves clues. But you have to look for them.
So, what sells the best in your business and why? Is it the name? The price? The offer? Or the message? What are your clients attracted to and how can you lean into that?
See, when you hold onto your products or services that aren’t selling, you take away some of your focus on those that are selling.
Instead of always coming up with new products or services that you don’t know will sell, sell more of what’s already selling. That’s how you can leverage your best sellers.
5 – Best Clients
Just like your product offerings, not all clients are created equal.
Some are a dream to work with, while others give you a horrible feeling in your stomach as soon as you see their name pop up on your phone or computer.
I’m sure you know exactly what I’m talking about.
The problem is, we always like to focus on the loudest person. When we hear their complaints, we adjust our programs, products, and services to keep them happy. As a result, we tend to neglect the clients that do not have any complaints.
And that’s just not a good business strategy.
Don’t be afraid to kick out clients that are making things complicated for you and your best clients. Instead, lean into the ones that make you feel good and don’t give you any problems.
Leverage One Area at a Time
Now that you know which five areas of your business can be leveraged at this moment, it’s all a matter of implementation.
What if over the next five months, you could focus on each of these areas one at a time? How different do you think your business could be in just five months?
If you’re interested to find out or if you need any more help leveraging any of the key areas discussed in this article… book a call with me here: www.stacytuschl.com/call.