The key to strategies for exponential business growth is not trading time for money—it’s leverage!
That being said, here are 2 of my favorite tactics for gaining leverage in your small business.
Hi, Dean Mercado here from Online Marketing Muscle, and I want to share something that I feel is critically important to the small business world. This key concept of exponential growth is not trading time for money; it’s leverage.
And what I’d like to share with you today are two ways to add leverage to your business that may help you get to that exponential growth to help you move forward. So let’s jump right in.
Business Growth Strategy 1: Marketing Automation
First, I want to share one strategy with you that is very near and dear to my heart, and that is what I call marketing automation.
There are so many things that you can automate in your business instead of doing them manually. Unfortunately, many of us make the mistake of thinking we should do it all ourselves. Some examples of this are following up and following through with prospects and clients, serving clients, and welcoming a new client on board or a new employee onboarding. However, many of these typically manual tasks can be automated to a large degree, thus freeing us, the business owner, to do other things that warrant our attention. That helps us take that time that we would have been spending to do some of those things and apply them to other things that might generate new business. As a result, we gain more efficiencies in our business.
Now I’m pretty fond of a tool out there called Keap. You may or may not have heard me talk about it before. If you haven’t, go on my website and check it out and learn a little bit more about it because it’s changed the dynamic of my business. I could not run my business the way I do without it. It makes it look like there are like 50 Deans running around. Now that might be a little crazy thought to you. But it gives me that ability to be in multiple places seemingly at once. So marketing automation is the first strategy I want to share to get some leverage in your business.
Business Growth Strategy 2: Outsourcing
The second big strategy I want to share is outsourcing. In many cases, we don’t need to hire a million employees. There are plenty of people out there that can handle tasks for you. Virtual Assistants can quickly be brought on board to handle these specific tasks. I’m much more aligned with the process of bringing on experts in a specific area instead of generalists.
So if I need something specific done, I’d rather pay a little bit more and get an expert to do it than the general handyman to come in and handle certain things.
There are virtual assistants out there; there are experts in specific areas out there. There are also sites where you can find things; there’s one called Fiverr, Fiverr.com that you can go out there, and for five bucks, you can get somebody to do something for you.
Let’s say I shoot this video, and I want it transcribed. So I can go up to Fiverr, upload the video there and hire someone for five bucks to transcribe this thing. Now that’s much better than me sitting down trying to transcribe this video.
Again, outsourcing is a real viable option for your business!
You know what we’re looking for is leverage. You might have heard the acronym OPM, other people’s money that was big in real estate investing. But what we’re always looking to do is get leverage by tapping into other people’s money, other people’s time, other people’s resources, and if we’re able to duplicate ourselves or ‘clone the owner,’ the concept I call it with things like marketing automation, even better.
Look into those two strategies! Then, look into your business for the things that are either not getting done, they’re not getting done effectively, or just not at all. The things that you hate doing, things that are slowing you down and stopping you from the business you need to be doing.