The 13 Best Ways To Implement Leverage In Your Business

When you apply leverage in your business you are able to get more done with less effort. You are able to make more sales, speaking to less prospects, influence more people through one conversation, free up your time and still make the same money. 

The implications of implementing leverage are far reaching. Applying leverage is working smarter and not harder, working on your business as opposed to in your business. 

There are many ways to implement leverage in your business. 

The following are some ideas for you to consider when making decisions about what to focus on, and how to make the best use of your time. 

1. Outsourcing

Number one on my list is outsourcing. Before I became a business accountability coach I spent years and years building my skills and knowledge around how to successfully outsource. I ran a business called GoToOutsource to help entrepreneurs tap into outsourcing. I still offer an Outsourcing-Coaching-Mentoring-Skills-Accountability-Program.  This teaches entrepreneurs the full skill set when it comes to successfully implementing outsourcing. Although not a set and forget strategy, and prone to mishap and potential time wasting outcomes, once you learn the successful skills from A - to Z, these will be life-changing for your business. Competent full time team members can cost as little as $800 AU per month.  When you access and employ team members from the Philippines you are tapping into the global labor pool at cost-effective affordable prices. What this means is that you can employ a full time team member faster than what you normally could, and grow your revenue faster. Once you have had a taste of handing over important work from your daily and weekly tasks, you will never look back. But to get these leveraged results you have to know what you are doing. Investing in your outsourcing education will teach you skills you can duplicate in your business over and over. This is true leverage. 

I hear a lot from entrepreneurs still, that their clients only want to deal with them, and although this makes sense, there are still many ways you can incorporate outsourcing into your business, without compromising your client relationships. It is good to learn what is possible and to have an open mind. This is what I recommend. Many of my coaching clients have implemented outsourcing to help them with tasks that are very repetitive and mundane, that once off their plate, enables them to focus on higher income producing activity. 

2. Creating Systems

Systems  add tremendous value to your business. They are a documented process outlining how to run your business. You can create a system for every important function in your business. They can be in the form of written steps and or videos and or voice recordings. The benefit of having systems are many many fold. They add value to your business when you put your business up for sale and they enable new team members to be trained without you having to sit there each time (especially comes in handy when you start outsourcing). They are a very leveraged use of your time. You can create them on the fly even as you do things, or when you train a new team member. 

3. Creating Video and Ever-Green Content

Videos are a wonderful way of selling you and your business. They build rapport quickly and highlight authority and expertise. When you make the topics ever-green they can be used again and again and repurposed. What do I mean by an evergreen topic? A topic that endures the test of time, it has no expiry date. Evergreen videos are the most leveraged use of your time. They can be used on your youtube channel, website, in your funnels and in your paid ads, just to name a few. 

4. Creating An Online Course

Online courses leverage your income and enable you to make money without having to exchange your time. Of course this is only once you have created the course. (And creating an online course can be very time consuming.) Once you have created it, your job is then about promoting, driving traffic and selling it. It is a great resource to have as part of your product suite. It is very leveraged and can be used and sold in a bundle to add value to other services and packages you offer. It does position you as an authority and show-cases your expertise. For example I have an online course called GoToOutsource Training Package. 

5. Creating A Group Program

Providing services to a group as opposed to one-on-one is a very leveraged way to deliver your programs and services. 

6. Selling Through Joint Venture Partnerships

When you find people that can promote your products and services to their customers, this is a very leveraged way of making sales. You can offer the Joint Venture Partner an affiliate commission, every time one of their customers or members signs up to your product or service. The trick here is to make sure that what you do, adds value to their members or customers. You must never be perceived as a competitor to your Joint Venture Partner. Think of businesses that potentially have the same target market but that don’t compete with what you offer. The best way to reach out is either by phone, and or email or through social media.  

7. Becoming A Speaker 

When you get the chance to speak about your expertise to a group this is a one-to-many sales opportunity and highly leveraged. The key is to deliver value and make sure that the participants come away with practical actionable information.  The other aspect to incorporate is a call to action so that you get the opportunity to build your database and put the participants that opt-in to your offer, into a nurture sequence. Speaking has always been a very successful strategy for me. You can also deliver a one-to-many sales presentation via webinar and online methods such as FB lives. These are all highly leveraged. 

8. Building An Audience

Platforms such as Facebook groups, Linkedin, Youtube and every other social media channel, available today, offer us this opportunity. To be successful at this you need to be consistent with publishing content. It helps if you know who your target market is, and have worked out your core messages. The trap here is to delay starting, if you are unsure. The best approach is to get started anyway, and your message and voice will emerge and evolve. This is especially critical if you are a personal brand. Get publishing. It will never be perfect. Make sure your strategy incorporates publishing in groups where you know your target market participate. This has been a very successful strategy for me and has resulted in closed business and clients. It is a long game and the key is to deliver value and be authentic. Selling is not the focus in this strategy, as people on social media mostly hate being sold to. Remember that it is not about you, it is about how you can help and assist your target market. 

9. Putting Up Your Prices

Putting up your prices is one of the most overlooked ways of creating leverage in your business. If you feel uncomfortable raising your prices with current clients, for fear of losing them, do it each time you get a new prospect (and get the opportunity to pitch to a prospect). When you get to the point of feeling that you are undercharging for your services you can give your clients one or two months notice, that you will be raising your prices. To feel really confident in this, you have to be prepared and ok with your clients leaving you. Once you have established your value with clients, they will very rarely leave you. Pricing is an important thing to keep experimenting with. It is not something set in stone and it evolves and develops as your confidence and prosperity mind-set grows. What you charge is very much linked with what you believe you are worth, especially if you have a tendency to undercharge. If you are interested in doing some work on your limiting beliefs about your self-worth reach out as this is one of my passions as an accountability coach, helping people transform their income ceiling. 

10. Joining A Mastermind

Why is this leveraged? In a mastermind you have more than one person, working on your business and helping you with ideas and problem solving. You have the power of the group working together to help each other. Business is a team sport and the more colleagues you have that you trust and can be really honest with, the more you will be successful. It is when you isolate yourself and never share your problems, that things can potentially go wrong. Masterminds also provide accountability which is a crucial part of being successful. If you are interested in joining an online mastermind group, let me know by emailing info@visionaccountable.com.au or calling me on 0414 707751.

11. Licensing Your Intellectual Property 

This strategy has worked for me and has resulted in opening up a whole new potential income stream and business opportunity. You need to be clear what you are offering and again, clear about who is your target market. You need to have solid agreements in place that protect your intellectual property and protect your customer at the same time. The more win-win it is, the more chances you have of succeeding and making sales. If you would like to know how I have done this, reach out at info@visionaccoutnable.com.au, and I will share what I did. 

12. Setting Up Business Funnels and Paid Advertising

This is very leveraged, especially if your funnels and adds are converting. You need to do your numbers, and understand what you are prepared to spend to acquire a customer and understand your break even costs and profit costs. I have recently set up a funnel and Facebook ads for my Momentum Habits Accountability Program (http://bit.ly/2XjTaes). What made this leveraged is that it gave me an additional lead source that did not depend on social networking and networking. This whole process helped me see the potential that running paid ads can have in a business. 

13. Putting Your Clients On A Direct Debit Payment System

This is leveraged because it saves time when it comes to admin and invoicing and collecting payments from clients. You can give your clients an incentive for signing up on a direct debit program, by offering a slight discount. This has added a fantastic recurring income stream for my business, as I also enable my clients to pay off programs over a 12 month period, such as my Outsourcing Coaching and Mentoring Program. This strategy goes hand in hand with setting up recurring income programs as part of your products and services. The idea is that you make the sale once, and continue to earn income. This strategy makes you less dependent on having to find a new client, to get paid. Of course, you still have to acquire new clients, as some will always drop off. As far as finding and implementing a recurring income billing provider, I did hours and hours of research to find a provider with low fees, which is cost effective and really easy to use. If you want to know which one, please reach out at info@visionaccountable.com.au

Hopefully these 13 ideas have inspired you with at least one thing you can implement in your business today to create more leverage. 

Keep this concept of leverage front of mind as you build your business. If you would like to book in for a Free-30-Minute-Strategy-Power-Session to discuss how to implement leveraged strategies in your business, here is the booking link: https://calendly.com/amdepal/free-vision-accountable-goal-setting-power-session