4 1/2 steps to scale your service business the better way
DESCRIPTION
Stop trading time for money and instead take steps to create a scalable business that runs without your constant attention.TRANSCRIPT
4 ½ PRACTICAL STEPS TO SCALE YOUR BUSINESS THE
BETTER WAY.How to stop trading hours for dollars, and grow without
working yourself to death.
Freedom . Growth . Sustainable Financial Success
MandiEllefson.com@MandiEllefson
THE COMMON WAY TO GROW...
TIME FOR MONEY
$
Hrs / week
Time for Money
You are the engine that drives your business Completely dependent on you
CHALLENGES
Revenue plateau unless you work all the time Business is worth nothing without you
CHALLENGES
$
Yrs in Biz
Business Income by Year
MORE LEADS WON’T HELP!
How will you nurture new leads > convert them to a sale > process the sale > onboard the new clients > start the project/engagement > deliver consistently amazing results every time???
OUTCOME
Growth is Unsustainable
A BETTER WAY!
$
Yrs in Biz
Biz Income by Year
$
Yrs in Biz
Efficient Biz
Income by Year
–OR–
SOLUTION?
??
TASKS >> SYSTEMS
INCREASE CAPACITYMaximize current resources
ADVANTAGESConsistent quality as you scale.Tasks get accomplished faster Focus. Project starts become a breezeKeep you going on downer daysIncrease your bandwidth, take on more work Prepare for a team
ADVANTAGES
Life Balance
ADVANTAGES
HOW?
4 1/2 Steps:
1. Look From Above2. Plan Based on Goals3. Select 1 Process to Improve 4. Document Process Part A: 15 Minute Process Brain DumpBONUS ½ Step: Time
STEP 1. LOOK FROM ABOVEMap out the flows in your business.
Brainstorm/mind map to get the big picture out on the table Draw arrows and write quick notes for each process Don’t worry too much about details until step 3 Star obvious areas for improvement and circle any hazards that need to be fixed ASAP. SET TIMER FOR 1 HOUR!
STEP 1. LOOK FROM ABOVE
STEP 2. BIG PICTURE PLAN
Plan
Get Clear On Your Goals
STEP 2. BIG PICTURE PLAN
VISION VS. REALITY
Where do you want to take your business? How do you want your business to support your life? Do current business processes measure up? How is it affecting your life?
STEP 3. SELECT ONE PROCESS
STEP 3. SELECT ONE PROCESS
Take a lot of your time? Cause a lot of stress? Produce poor outcomes
Where could be making more money? Which projects seem just impossible to get going? Operational hazards?
Which processes...
STEP 3. SELECT ONE PROCESS List your processes in order of priority. Choose one!
STEP 4. DOCUMENT A PROCESSBefore outsourcing, do this!
15 MINUTE PROCESS BRAIN DUMPSketch of a sample marketing and sales process.
Notice it’s a MESS!
15 MINUTE PROCESS BRAIN DUMPWorkflowy. Less Mess
TRENDSLook for :
Opportunities Bottlenecks Breakdowns
List:
Possible actions Items to remove Prioritize
TAKE ACTION!
PROCESS FOR PROCESSES
COMPILE DOCUMENTED PROCESSESOperations Manual
HOW DOES THIS SAVE ME TIME?This looks like a lot of work!
LET ME HELP YOU THERE...
MORE ON VISION
If I had more time I would spend it...
Display in a high traffic area!
MORE ON VISION
Constantly remind yourself what you are trading to continue in your comfort zone.
1/2 STEP: TIME
Track your time
WHERE TO FIND TIME
Email Free consultations to non-prospects Meetings- stated objective Wasted peak hours- PROTECT this time!
Make a list of things to stop doing
THANK YOU!
For a more detailed version of this process, download my complimentary Sustainable Growth Road Map.
MandiEllefson.com