I was listening to Jeffrey Hazlett last week, and it dawned on me… Why should people listen? What difference does it make? If I am a small or medium size business owner, so what? Get in the elevator and press the button.
Everyone wants their business to do well and be profitable, right? Yes! is the correct answer (lol). So why not have a person that has worked on over 300 profitable projects for 20 years help you do that? I am here to help you accomplish that now! My proven methods are really simple. When do you want to start?
So there you have it folks, that is my 118 seconds elevator speech to hook you in. When I listened to Jeff Hazlett (@JeffreyHazlett) last week, he made an excellent point:
“You have to catch my attention in 8 seconds (adult attention span), and then you have 110 seconds to convince me (average duration of an elevator ride in New York City).”
Efficiency allows you to work smarter, not harder. When you work more efficiently you also use less effort, which in turn gives you more time to work on important tasks. A nice benefit of more time for important tasks is increased opportunities to make more revenue.
Think about it this way: if you are more efficient and you can lower your margin, you can grow your business, and potentially employ more people. Everyone wants to get better, it is in our human nature.
Your last exercise was to write down the top 3 things you spent most of your time on in your business.
Take out that list and let’s review it. Anything jump out at you? Are there any patterns you notice? Like most people, you don’t realize how your time is spent until you actually write it down.
A few years ago I did this exercise with a group I worked with, and they thought most of their time was spent on searching and acquiring new business contacts.
This ties right to the first key question: Where is your largest margin? The reason why this is also important is because your time is valuable! You need to be as efficient as possible.
If you are not spending time on the areas where you have highest margins, who will? Do you have a plan to grow this area of your business? Who is assigned to this area of opportunity? Are they your best employee(s)?
The key to this question is simple, and is the most important starting point for every business.
Where is your largest margin? Is it a product, a service, an offering?
Before we get started you must answer this question: Where is your largest margin?
Spend a few minutes writing down where that is. This post is very short, but it is an important concept that you need to answer for yourself.
Till next time…