Looking To 2020: Leverage
- December 18, 2019
- Category: Running Your Business
As we wind down the year, it’s a good time to revisit a topic near and dear to every authority-in-the-making: leverage.
I’m a fan of Todd Tresidder’s approach to this. He’s the author of The Leverage Equation and joined Jonathan and I for an episode of The Business of Authority podcast. (You can listen to that episode here—and if you want more, check out the following episode where we attacked it from another angle.)
The basic idea is this: Todd describes six types of leverage, any of which—hey all of which—are available to you as a business owner: financial; time; technology and systems; communications and marketing; network and relationships; and knowledge and experience.
Here’s the core question: What is the highest, best use of your time and how can you set up systems and people to ensure that’s how you spend your day?
There are so many opportunities to create more revenue (not to mention increase your daily happiness) by paying close attention to leverage:
Creating a system for attracting and nurturing future clients and buyers through a sequence of automated emails (technology and systems). You can design the system yourself or hire a specialist to leverage your time even more.
Increasing the lifetime value of clients and buyers by offering valuable add-ons to improve your relationship.
Becoming a go-to source for the media outlets or industry associations trusted by your sweet-spot clients.
Offering your books or on-line programs through a network of affiliate partners whose audience matches up with yours.
Becoming THE expert in your niche, allowing you to ratchet up your fees and disconnect them from your time.
What opportunities that could 2-10x your revenue are you leaving on the table?