NOVEMBER 17, 2023
Here's how to do it
Simplicity Leads to Efficiency
This week at the Entrepreneurs Circle local meeting, we looked at the plans for next year for the 21 people in the room, and an incredible realisation came out of the process. Every business faces its own challenges. The key is not necessarily looking for an easier path but to simplify existing processes.
Complexity is often seen as an inevitable companion of growth and success in business. However, as we discussed last week, our thoughts shape our experience of life, and if we think that complexity is an unavoidable aspect of business, that's what we'll get. However, shifting our mindset to embrace simplicity opens the door to efficiency and clarity.
Simplifying processes is about cutting through the noise and focusing on what truly matters to get us to where we are headed.
Here’s how we did it this week using a hypothetical and straightforward example.
You made 120k this year. Next year, you want to set 180k as the target. On average, each customer is worth £2k per year, so you had 60 at the end of this year, and you’ll need 90 at the end of next year. You can see the simple maths: if you onboard three new customers monthly, you’ll be on target. Even simpler is to bring on board one per week, and you’ll be flying!
Here’s the simple question: What must you do to bring in one new customer per week? Asking this question involves daily habits and the ‘stuff’ you SHOULD be doing in your business.
So say that each conversion requires three strategy calls, which come from five appointments booked (people cancel), that comes from twenty social media posts, and £250 ad spend per week - and these are your simple, weekly tasks to keep you on track.
I know this is a basic example, but most businesses are not rocket science. Do the things daily that get you the right results, and cut out the stuff that doesn’t. Or, as a certain Meerkat would say:
“Simples”.
In the meantime, have a great week, learn heaps, love loads, and then pass it on.
Meet the Author:
Damian Mark Smyth
Head Honcho, The Success Formula Club
Welcome to the new blog page where I will be posting weekly musings to help you grow your business
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