Gain Leverage in Your Business

Leverage. One of the biggest words you need to focus on in business. It’s about getting the best bang for your buck – or your best use of your time.

Think about how Justin Bieber used leverage to become so popular and successful. His mother uploaded his videos to You Tube. Anyone could watch them. People began to like him, and his mother continued to post more videos. He created a following through the biggest leverage point ever, the internet, which allowed him to reach a ton of people. He then signed a record deal with Usher, a well known hip artist who had a record label. Usher gave Bieber a platform (more leverage) to launch his career.

You could be Bieber too! If you aren’t already. How does he get his hair to go that way? Seriously? Aqua net? Hair gel?

I have written about the definition of insanity forever – doing the same thing over and over again and hoping for a different result. You need more leverage. You need a better return for your time and money.

What are some things that you can do in your business that could give you better results? Make sure the results of these changes far outweigh the costs. Big time! That’s what leverage is all about…

Here are a few ideas to gain some leverage:

1. If you give presentations, give them to a larger audience.

2. Raise your prices. I’m giving you a gentle nudge to do it. You are worth it.

3. Increase your investment in marketing. According to this survey run by Michael Zipursky, 53% of consultants spend less than $2000 on marketing. That seems too low.

4. Spend more time on marketing. Block out 1 or 2 days… Focus.

5. Tie your employees’ compensation to their performance. Make sure the performance creates more revenue for you.

6. Your pricing. Give your customers choice. Some people might not know what they want to buy from you. But if they see it in some sort of context (with options), it may be easier for them to buy from you. It’s so simple and has worked for me.

7. Your prospect’s first impressions. What does your website look like? How are you dressed? Are you relevant?

8. Bonuses. Give away free add ons when people buy your stuff. It builds serious goodwill.

9. Joint ventures. Team up with people that serve similar customers.

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