Achieving Business Growth

Achieving Business Growth

we’re going to talk about one of the key reasons why businesses don’t grow at the pace they should be growing and more specifically what you can do to reframe your vision of business growth to help you get to the milestones you want to achieve so what sparked this whole topic was I was talking to a guy I’ll call him Gil because well that’s his name and so Gil and I were talking about what it was gonna take for him to grow his business and I said so Gil how much would you like to increase your income he said well I mean ideally I’d like to increase it by like thirty percent that’s okay Gil so what would it take for you to do that in order for you to increase your revenue by thirty percent what would you have to do he looked at me and said well that’s the problem see I’m already billable at almost 40 hours a week so in order for me to do more I’d have to work even more than 40 hours a week and I don’t know that I’m willing to do that which candidly is a perfectly reasonable explanation I’m sure some of you were thinking oh he’s got a hustle more but guess what Gil works hard at what he does so just doing more isn’t necessarily the answer and I said well so Gil so you’ve got 40 units of your time that you can sell so do you generate the same revenue from all 40 units and Gil said well no actually I don’t I have some clients where multiple people come in together and and I use I use a full hour of my time but it’s spread across six or eight different clients and they each use half of that allocation meaning if I’ve got eight clients I don’t get paid for eight hours when I get paid for four hours so I have a four de 1 multiplier and I said okay so in your business is your key to growth bring on more individual clients or bring on more one-to-many clients they said what what do you mean I said well think about it if you know that the way for you to grow by 30 percent is to do more group clients then all of a sudden when people come to you you don’t try and steer them into one-on-one coaching you try to steer them into group coaching and that’s how you both scale see one of the challenges that people run into is that we look at all revenue and all business as being the same but the reality is they’re not so we need to come up with a better way to do this so back to this issue with guilt he was initially thinking that every new client that came in if I just add another hour here and there gee that’s gonna work for me and all of a sudden quickly realize that man I just don’t have any more hours in a day so instead he can focus on how do I get more people in group sessions how do we get more people in a one-to-many and that way each of those hours in essence is generating four times as much revenue so if all he did was take 10% of his current time and focused on those opportunities where it was worth four times as much he would increase his income by 30% working the same amount and in your business is it possible that the same things were in play is it possible that maybe selling different mixes of products and services maybe getting a little bit more creative and innovative could actually allow you to do more business with less effort see it’s not just about hustling and doing more it’s about working a little bit smarter to get better results you


One thought on “Achieving Business Growth”

  • This was an incredible waste of 4 minutes to explain something so simple. Put down the bombastic "business expert" jargon and all the numbers someone taught you are the hallmarks of a wise businessman and just get to the point for pete's sake. It's a new generation. We see through the smoke and mirrors.

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