The four keys to doing more with less in your business
‘Leverage’ is one of the six core systems that Shweta Jhajharia from The London Coaching Group (www.londoncoachinggroup.com) recommends to all her clients. According to Shweta it is critical if you want to take your business to the next level. Archimedes said, “Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.” What he was talking about is that with the right tools, you can achieve a lot more with a lot less. Using a leveraged system means doing the work once and achieving the result over and over again.
Firstly, it’s important to understand the 80:20 rule; 20% of your activity is contributing to 80% of your sales. So your focus should be on that 20% – and the other 80% should be systemised and automated. In order to figure out where and what to automate Shweta suggests looking at the four areas where you can unlock the greatest leverage:
Systems & Technology
What technology can be used to systemise your work? How can you leverage off new software and IT systems?
You should also be asking yourself whether or not you are making the best use of your existing IT systems – are they as reactive and proactive as they should be? Are there advanced features you are not yet using? The end goal is to document and automate processes in your business so that they work predictably every time without requiring your intervention.
Delivery & Distribution
This applies to both the delivery and distribution of your product or service and your marketing. What is the schedule for delivering your marketing content? What ways are you reaching out to your target person? What is your niche and how are they hearing about what you have got?
The end goal in this sort of automation is to get everything – your product, your message, your brand – on time to the right place, the first time and every time. There should be a focus on consistency and efficiency.
Accounting & Testing and Measuring
Here is where you can start digging in to specific numbers in your systems. How are you ensuring that every enquiry that comes in is recorded? Are you measuring how many of those are converting – do you know the conversion percentage at every stage of your funnel?
You should have a dashboard for each department; marketing, sales, finances, etc. This should include the key indicators on how your business is performing and which areas need more work. The end goal is that you are now running your business and making important decisions based on the numbers rather than just your gut.
People and Education
This is where the large majority of businesses are not leveraging as much as they should. You should have a clear recruitment system in place that ensures you spend the least time on it while getting the most suitable candidates. You’ll also need a clear induction system that lays out their initial tasks for the first three days to become oriented with your business, your core values, and their role in your business.
You should also have clear Key Performance Indicators (KPIs) for everyone in your business – yourself included! Have clear annual goals that are reviewed each year. Those are systems too. The end goal is to ensure that you are recruiting well, treating your team well, and training them well so that they perform well. As you work through these four key areas keep in mind the 80:20 rule. You are not trying to systemise your entire business. You’re aiming to systemise 80% and leave 20% to be the exceptions that require human intervention. Once you get these systems in place, and you are spending more time focused on the 20%, you’ll see your sales and profits growing at a much faster rate.