When you’re stuck on how to grow your business, start with this quote by Greg McKeown, "Define success. Eliminate everything else." Or, simply to thrive.
Start with defining success. If nothing else, 2020 has shown us that we need to be very clear on what success looks like for our business. Maybe it's revenue. Maybe it's profit. Maybe it's a certain type of customer and number of customers. Maybe it's a particular impact or difference that you want to make.
Whatever success is, YOU get to define it, but you’ve got to define it.
When you define it, then eliminate everything else. Which is tough, but it’s so freeing that it’s worth figuring out.
Here’s a simple way to start defining and eliminating:
Simplify what you offer We all know a confused mind says no. It's not just for your confusion. It's also for your clients. Really, they don't want a catalog of options. They just want a short list. They’ve got a lot of other things to think about. And if you make them think too hard, then they won't pick. So, pick three products or services to offer to get a lot more yeses. You might have just two, but if you have a list of five, six, seven, eight, that's too long. It’s possible that you have five, six, seven, or eight things that you can do service-wise or product-wise. But the likelihood is you're getting most of your revenue from three things. Focus your efforts there and let anything else be a “come-along”.
Simplify how you will create more clients and customers Choose three to four revenue-generating activities (RGAs) for each products or service on your short list. Three to four things that you will do again and again and again and again. RGAs that you know work, or you're going to try and see if they work. Because it is crazy pants to do too many things! RGAs look like marketing, promotion, or networking. For example: Going to networking events. Consistently working the social media platform of your choice. Consistently being in touch with your email list. Giving a problem-solving presentation. Having one-on-one convos virtually or in person. Reaching out to past or existing clients. Sending a client appreciation gift. Asking for a referral. Stalking. I don't really recommend that one, but you get the idea.
Create your simplified plan Use steps 1 and 2 to create a simple chart of three columns and three rows for your simplified revenue plan. Put your three products or services at the top of each column. Then list your three RGAs for each product or service in the rows below. Now you have a total of nine RGAs to focus your efforts. That’s it! You have just eliminated everything else!
Want a step-by-step guide to create your own simplified revenue plan? Then grab the Be Bold + Thrive 2021 Guide. It's only available for a few more weeks. Download it for free here!