Growth Secrets Part 3 of 3 - The Power of Leverage
Ep # 5 - Welcome to the third and final part of our 3-part mini-series on Business Growth Secrets. In the first two segments, we covered the topics of momentum and optimization, the first step of the OSI method. This week is where it gets really fun in the series, as I will uncover the Power of Leverage. Yes, it's time to get more with less effort!
Since you made it this far, it's clear to us that you're not afraid of hard work. Most business owners fail because they try to do everything themselves. If you think of juggling for a moment, there are some incredibly skilled juggling professionals in the world. The very best jugglers can juggle four items, five items, maybe even up to six or seven, but eventually there is a cap to where they fail and usually everything comes tumbling down.
This is how it is for business owners that take on too many tasks. You may juggle a lot of different areas and have some success, but eventually, if you keep going without hiring or outsourcing your tasks, the threshold will be reached and things will fall apart. This is why leverage is needed to grow a business and there's one key method to scale fast, systems. Systems allow for fast hiring, easy replication of success, and they prevent overwhelm. Systemization is the second stage of the OSI method, the "S."
Here's a test to consider for your business. Ask yourself what would happen if you took a two week vacation? What would happen to your business if you took a two week vacation? Could you relax and truly vacation or would you be obsessed with checking your phone and trying to put out fire after fire. With systems, variation is the enemy of excellence.
When systems are in place, consistent and predictable results can be created and replicated. As you build systems for all your business departments, your business becomes easier than ever to scale. The businesses that leverage the right systems will be the ones that win going forward.
Optimization grows your revenue, systemization keeps you on the growth track, and innovation, step 3 of the OSI process, which helps you create new profit centers that bring you more leads and more sales. The more profit centers you create, the bigger your profits and the faster your growth.
In my book, "The Predictable Profits Playbook," I talk about the concept of a money wheel. Each profit center is a spoke in the wheel. The more spokes the better. The more spokes you add, the more layers you add to your business, and this sets you up for big success in growth and profit.
Innovation is how you generate breakthrough profits. It is what helped one of our clients generate one million dollars in revenue in just 10 days. When momentum is coupled with innovation and systems, breakthrough profits can come quickly and create stunning results. One client reported bringing in the same amount of revenue that his company had made the prior year in just 5 days.
This is why an organized business with proper systems will always beat better talent or quality in competitors. McDonalds is one of the biggest businesses in the world, but it's not because they make the best hamburgers. Think about how you can apply these concepts to advance your business and place it on the track to hit 7 figures and beyond going forward.
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