The fastest way to tell a serious entrepreneur from someone who is pretending is to ask them how they build leverage into their business model.
An entrepreneur who does not understand what leverage is or cannot explain how they build leverage into their business is either a fraud or ignorant – either way they will stay small.
The business owner who tries to do it all themselves or has a small team that who think that way will always stay small…instead of thinking BIG where leverage is the key to scale, they tend to think small around getting one website up , a few blog posts up, an Adsense site up or offer a service that exchanges time for money.
Leverage For Business Scale, Reach And Maximum Results
There are 3 high-level priorities when we work with online entrepreneurs over at InfoMarketer’sZone
a) Getting their business and market properly defined
b) Teaching and putting in place a solid operational model for their business so it can launch and begin earning them income
c) Making sure we build leverage and scale into their business so they can grow bigger and faster to reach the top of their marketplace.
When it comes to this last item – building leverage to support BIG scale, there are many ways that this can be done in your business.
Here are 10 ways to build leverage into your online business – a sample of the most important methods we share with our entrepreneurs:
1. Turn knowledge and expertise into products – this is so important. The absolute simplest way to scale your business is to package your knowledge, expertise, service, and brand into products that can be sold over-and-over again.
2. Build a model around systems so you can outsource and then hire a team allowing you to scale. If you are thinking as a one-man show, micro-preneur or even small business, change that thinking into imaging a “dream team” of highly able employees that will allow you to scale HUGE globally.
3. Leverage partners/jv’s/affiliates to distribute your message, content and offers. They already have relationships with the market, why not leverage those relationships as you build them into your own.
4. Re-purpose content. It goes without saying, if you can generate a piece of content in 30-minutes that you re-purpose into 20 different content drops, that is a solid use of your time and your reach goes up at least 20X
5. Leverage video and audio which are often quicker and more effective than written content. Learn what works for you, but be smart about how you generate your content to leverage your time and strengths.
6. Turn local events, seminars, webinars into products
7. Evolve 1:1 consulting to group coaching, membership programs. Wherever possible, turn business models where you exchange time-for-money into packaged products that can be sold many times over without additional effort or time.
8. Leverage other people’s expertise through collaboration…example is running a seminar reliant on other experts, podcasts that interview experts, webinars where you bring in experts
9. Leverage the feedback you get from customers (Example on a low-end or freebie front-end product) into additional products. A simple Q&A around customer feedback can be turned into content that can be resold as part of a much larger package
10. Leverage technology to elongate your reach…Facebook streaming, anchor audio, Periscope, Snapchat are all ways to expand your reach through the leverage of free technologies
Until you are thinking big about your business, these things don’t become obvious…but once you reach a certain level of success, they become critical.
