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The same is true for business. If you want massive results in your business – whether it is more profit, more time or a great team, it is just a matter of following the 6 steps to massive results.
The first step achieving MASTERY of your business and mastery of your time. This involves getting your business to deliver consistently and reliably so that every customer experience is consistent. It is also important to make sure that your business is profitable, with good margins and strong cashflow. This stage often involves tightening up debtors and also stock.
Mastery is all about putting the foundations in place so the business is staged for growth. Too many businesses grow too quickly and without mastery, run out of cash along the way. Mastery also involves taking control of your time. This includes finding at least five hours per week to work ‘on’ your business to create the results you are after. A great place to start is to read and implement the principles in 7 Habits of Highly Effective People by Stephen Covey.
Once this step is completed you will need to define your NICHE – positioning your business in the market so you no longer have to compete on price. Your niche can be anything and may be based on areas such as quality, speed, reliability, safety, customer service, back-up service, convenience, image or guarantee.
Once you have decided your niche you should redesign your business so that the business enhances your position and ownership of the niche. It is worth spending some time developing your niche as this will form the basis of your marketing and is a precursor to the next stage - LEVERAGE.
Leverage is all about doing more with less.
The key areas we will focus on to leverage at this stage are marketing and time. Leveraging your marketing and profits is all about working the ‘5 ways’. Start with conversion rate, then average dollar sale (both involved in sales) and then number of transactions (getting your existing customers coming back) and finally on lead generation (new customers). So often business owners want to start on lead generation first but this is often the most challenging and requires the most investment for any of the 5 ways.
They key to leveraging your time is systems. Effective systems can save you and your team both time and money. The basic rule for systemizing is, ‘Systemize the routine, and humanize the exception’. Anything that can’t be systemized needs to be run by people.
A system means that things are done consistently, regardless of the team member. Now you are well on your way to creating a business that works without you.
Once these are in place, the next step is to spend time building a championship TEAM to run your systems.
Remember Systems run your business. People run your systems. You lead your people. This is where you need to focus on leading and building your team.
This leads to SYNERGY where the sum of the whole is greater than the sum of the individual parts. Your team starts to develop mastery, they are applying leverage, you own your niche and everything thing starts to work ‘in the zone’.
By this stage you’ll now be seeing MASSIVE RESULTS in terms of your time and profit and if you choose, a commercial, profitable, enterprise that works without you.
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