MNIB Consulting Inc. https://mnibconsulting.com Scale your world-class online business Sun, 20 May 2018 19:29:22 +0000 en-US hourly 1 Un-Sleaze Your Sales Process https://mnibconsulting.com/sleazy-sales/ Tue, 20 Mar 2018 18:06:17 +0000 https://mnibconsulting.com/?p=11525 I’ve been thinking a lot about sales lately. So many coaches, consultants and service professionals get all twisted up in a knot when it comes to selling their stuff. Even if they’ve been in business for years; even if they’ve already got a successful business and a product that gets great results. But I can […]

The post Un-Sleaze Your Sales Process appeared first on MNIB Consulting Inc..

]]>

I’ve been thinking a lot about sales lately.

So many coaches, consultants and service professionals get all twisted up in a knot when it comes to selling their stuff. Even if they’ve been in business for years; even if they’ve already got a successful business and a product that gets great results.

But I can safely say that once I learned what sales was really about, and how everything I thought I knew about sales was wrong …

It was like a whole different world opened up to me.

Now, I don’t claim to be a sales expert.

But I have learned a thing or two about how to sell in a way that feels good and gets really good results …

… and a few mistakes that can make any sales process much harder than it needs to be.

1. Selling Your Product

The first mistake is potentially the most counter-intuitive and the most important all at once.

When we enter into a sales conversation, it’s natural to think that the purpose is to sell our product.

Or if not to sell it, then at least to determine whether the other person is a fit so we can invite them to buy our product or not.

But the truth is, selling has nothing to do with our stuff at all.

It has everything to do with selling what they’re actually buying: the ultimate result they hope to achieve.

2. Selling Too Quickly AND Too Slowly

Finding the right rhythm for a sales conversation is key.

Too fast, and you’ll come across (and feel) pushy.

Too slow, and you’ll miss the opportunity to really impact someone.

The most effective pacing I’ve found is to be quick to ask questions, and slow to provide answers.

Whether that’s in marketing copy, in emails or on the phone … get curious as early in the process as you can, and delay talking about your “stuff” as long as possible.

3. One-Sided Selling

Most people think of selling as the culmination of the marketing process.

When we think of sales this way, we mentally frame it as a one-sided conversation in which we receive value (money), but don’t give a whole lot until much later.

However, when we frame it as the start of the client engagement, sales becomes an opportunity to both give and receive value.

For many of our clients, this immediately removes the “ick” factor around sales, because it makes it a fair exchange of value, rather than a one-sided conversation.

4. Following, Not Leading

No one wants to be annoying. And yet, what’s the advice we’re given by hordes of so-called sales experts?

Follow-up, follow-up, follow-up!

Here’s a radical shift that’s been worth hundreds of thousands in our business:

Let your clients chase you.

You’ll increase your sales, eliminate a huge majority of problem clients, and those who do commit will get even better results.

So the question is: which of these four mistakes is costing you the most? And, more importantly, what are you going to do about it :-)

The post Un-Sleaze Your Sales Process appeared first on MNIB Consulting Inc..

]]>
3 Steps To Free Yourself From The Day-To-Day https://mnibconsulting.com/day-to-day/ Tue, 20 Mar 2018 17:35:06 +0000 https://mnibconsulting.com/?p=11521 Do you ever feel like you’re stuck in the day-to-day of your business? Like you’re always reacting to everything going on around you and there’s no time to do the fun stuff? I was talking to a client the other day and we were reflecting on the work that she’s done with us in the […]

The post 3 Steps To Free Yourself From The Day-To-Day appeared first on MNIB Consulting Inc..

]]>

Do you ever feel like you’re stuck in the day-to-day of your business?

Like you’re always reacting to everything going on around you and there’s no time to do the fun stuff?

I was talking to a client the other day and we were reflecting on the work that she’s done with us in the Accelerator Program that we have.

When she came to us, she was stuck in the day-to-day and she couldn’t seem to lift herself out of it no matter what she tried.

Less than 6 months later, she’s taking regular work-free vacations, she’s cut her hours down by more than half, her revenue is up and her clients are getting better results than ever.

How did all of this happen?

There were really three things:

1. Time Audit

The first thing was we audited her time.

We had her sit down and say:

Where is your time going?
What are you actually doing day-to-day that’s keeping you so busy?

We looked at that and we tracked it and we immediately found a number of things that probably didn’t need to be done.

2. Build a Scorecard

The second thing that we did was we figured out what actually needed to be focused on.

The way we did that was by figuring out the core projects and core metrics that she needed to be focused on in her business and putting them into a Scorecard.

So, for example, what are the three or four or five things that—if all you did was work on those things, your business would grow?

Maybe that means revenue generated. Maybe it’s sales calls. Maybe it’s profit. Maybe it’s operating cash balance. Maybe it’s number of days off.

Figuring out what those numbers are and then saying everyday, “What can I do to move those numbers forward?” was really, really important.

3. Measure Forward

Then the last thing that we did with this client—which we do with all of our clients—is we checked in every week.

Every week, we’d say:

  • What was your biggest win from the week?
  • What is the biggest thing you’ve learned?
  • What could keep you from being able to hit your targets to reach those numbers that you’ve established in your Scorecard this week?

Your Turn

Ultimately, it was the combination of all of those things that she said were so valuable in terms of getting her out of the day-to-day.

She’s working half as much, making as much as ever, and she’s got so much capacity to be able to grow her business and really take it to the next level.

So if you feel like you’re stuck in the day-to-day, those are the three steps I would recommend for you.

And if you’re not sure where to begin, feel free to reach out. I’d love to help you brainstorm a bit.

The post 3 Steps To Free Yourself From The Day-To-Day appeared first on MNIB Consulting Inc..

]]>
Use the Impact Matrix To Scale Your High-Touch Work https://mnibconsulting.com/high-touch/ Wed, 14 Mar 2018 19:15:22 +0000 https://mnibconsulting.com/?p=11489 When I’m working with clients — whether I’m doing an intensive or having a jam session with one of our Accelerator clients — one of my favorite questions to tackle is this one: How do I help clients create amazing results without working 1-on-1 with them personally? When you offer high-value products and services, it […]

The post Use the Impact Matrix To Scale Your High-Touch Work appeared first on MNIB Consulting Inc..

]]>

When I’m working with clients — whether I’m doing an intensive or having a jam session with one of our Accelerator clients — one of my favorite questions to tackle is this one:

How do I help clients create amazing results without working 1-on-1 with them personally?

When you offer high-value products and services, it can be challenging to figure out how to scale it up without losing the high-touch part of the work you love … or turning your business into one of those highly leveraged models that herd people into group programs.

Since it’s such a popular question, I decided to record this short video to answer it.

Inside, I share the 4 different models you can follow, and which ONE we’ve found to work best for scaling up a client-based business.

So let’s dive into this.

The Impact Matrix

The way The Impact Matrix works is this:

We can reach few people, or we can have an impact on many people.

And you can do that by having just you, or you can have you plus other people; a team, right?

So you can either help few people or many people, and you can do it by yourself or you can do it with others.

Now most of us start off our business down here: it’s just you helping a few people and it’s known as one-on-one.

And then it comes time to grow, and they think there are two options:

1. Scaling One-To-Many

Instead of working with just one person at a time, the first option is to go one-to-many:

Courses, masterminds, group programs.

But there comes a point at which the impact from one-to-many actually starts to cap out, because what happens?

You get 100 people in a course or 100 people in a program.

You get them all onto a coaching call, and everyone gets three minutes with you, if that.

There are lots of people, but not a big impact when you do one-to-many in this way.

Right? People talk about herding people into highly-leveraged programs. This is what they’re talking about.

2. Scaling Many-To-One

The next option that people consider is many-to-one.

They hire a team, and that team works with a small number of clients.

This is, basically, the traditional agency model.

And you end up with a whole lot of moving pieces, just to work with a very small number of clients.

It’s very complicated, and a lot of agency owners end up hating it because they have a whole lot of people that they’re employing and working with, for just a very small impact.

It can feel like it’s a whole lot of complexity for nothing.

Introducing The High-Value Hybrid

So if one-on-one is where we start …

And everyone out there is telling us to go either one-to-many with highly-leveraged programs, sacrificing the transformational power …

Or to go the many-to-one to go the agency route, with lots of complexity and small impact …

What do we do, if we aren’t satisfied with either of those options?

Well, spoiler alert, the answer happens right in here. We call it The High-Value Hybrid.

Let me show you how it works.

What we need to realize is that even though your product looks like one thing from the outside, it’s actually not one thing. It happens in a bunch of different steps, a bunch of stages.

And so when it comes to scaling up delivery, instead of scaling it as a whole, you want to look at how to scale each step.

There are three ways to do this.

1. Simplify & Streamline

So the first thing we can do is to simplify, or streamline, or just plain eliminate steps.

To look at the whole process and say, “You know what? This step isn’t actually adding value, let’s remove it.”

2. Enhance the Client Experience

The second thing is we do is to change the client experience.

What does the client experience?

In our intensive, for example, some pieces like the onboarding and reviewing of the plans, happens one-on-one.

Other pieces, like the actual workshop sessions where you’re designing your new structures, we do them in a small group so you can benefit from interaction with others.

3. Change Who Does It

And then the third variable that you can play with is, is who actually does the step.

So you could go and you could hire someone to run the group part, someone else to do the one-on-one piece.

Because each step can have different people involved in doing it.

You only need to do the steps you’re best at.

Your Turn

All right, so there you have it:

The Impact Matrix, and the High-Value Hybrid.

Now that you’ve seen how it works, my question to you is:

Which of these options makes the most sense for you and your business?

Is your business going to focus on one-on-one?

Are you going to go with the more leveraged model?

Are you going to go with the agency?

Or have you decided that your business needs to follow the high-value hybrid model?

Go ahead and send me a Facebook message; I would love to know what your choice is.

The post Use the Impact Matrix To Scale Your High-Touch Work appeared first on MNIB Consulting Inc..

]]>
Get Off the Revenue Rollercoaster https://mnibconsulting.com/rollercoaster/ Fri, 09 Mar 2018 16:26:49 +0000 https://mnibconsulting.com/?p=11459 Feast or famine. Inconsistent income. The revenue rollercoaster. No matter what you call it, few things feel harder than not being able to predict how much money your business is going to make every month. Today, I want to talk about how you can create more predictability, in terms of the revenue that your business […]

The post Get Off the Revenue Rollercoaster appeared first on MNIB Consulting Inc..

]]>

Feast or famine.

Inconsistent income.

The revenue rollercoaster.

No matter what you call it, few things feel harder than not being able to predict how much money your business is going to make every month.

Today, I want to talk about how you can create more predictability, in terms of the revenue that your business brings in.

Because if there’s one thing I hear all the time, is how tired people are of being on the revenue roller coaster. Inconsistent income. Feast or famine.

Whatever you call it, let’s be honest: it sucks.

And it can be a real problem when you’re trying to figure out how to grow your business—how much you can spend on team, for example. It becomes really tough when you can’t predict how much you’ll bring in next month.

So in terms of how we tackle this, it’s part of what we do in our business every week and it’s also what we do with our Accelerator clients: we have a weekly scorecard.

But this scorecard isn’t about tracking everything and it’s not about tracking revenue, because revenue is the result of other actions we take.

And so we’ve got a method, it’s something I picked up from a bunch of places, from books like the 12 week year, various coaches and consultants we’ve worked with, some of this is from my friend Angela Lauria, from Tara Gentile …

Here’s how it goes.

1. Start by working backwards

How many leads will you need to get, for you not just to stay in business, but to grow?

This means knowing your conversion rate. If it’s sales calls, are you converting 25%? 50%? 80%?

And then, how many clients do you want. 10 clients? 50% conversion? You’ll need 20 sales calls.

2. Make a plan for what you’ll do if you aren’t getting them.

Tara Gentile calls this doing a pre-mortem.

  • What will you do if you aren’t at 25% of your calls in week 1?
  • 50% after week 2?
  • What are you going to do if you aren’t at 75% of the number after week 3?

Make a plan so that when things go off the rails, you can get them back on track.

3. Put your numbers into a scorecard.

Keep this simple; just a few numbers. For us, it’s number of leads, conversion rate, number of new clients.

So if you need 20 sales calls in a month, you need to be getting on 5 calls per week.

Track this week by week, so that every week you know if you’re on track. And if you’re not, you can implement the plans from step #2.

4. Lastly, assign it out.

Will you be doing the sales calls and lead gen?

If so, what do you need to remove from your plate to make it happen?

Or should someone else on your team be figuring out what the targets should be, figuring out how to reach them, making the contingency plans, and so on?

No matter who it ends up being, it needs to be assigned to someone as their responsibility.

So whether it’s you doing it, or someone else … those are the 4 things we’ve found to be super helpful:

  • We need to know our leading indicators
  • We need to know what you’ll do if you’re trending under where you should be
  • We need a system to monitor and adjust our progress
  • And we need to make sure that you, your team — that you have the capacity to make it all happen.

So which of these four things would help your business most right now? I’d love to hear from you.

And if you’re having a hard time figuring out what that would look like for you, feel free to reach out.

Send a message on Facebook, and I’ll see if and how I can help …

And we’ll talk again very, very soon.

The post Get Off the Revenue Rollercoaster appeared first on MNIB Consulting Inc..

]]>
Bust Through Your Revenue Ceiling https://mnibconsulting.com/busting-through-a-revenue-ceiling/ Tue, 06 Mar 2018 20:33:30 +0000 https://mnibconsulting.com/?p=11452  Hitting a revenue ceiling sucks. While everyone else is freaking out about how the latest change to the Facebook algorithm is going to kill their lead gen … There you sit. A calendar chock-full of client work, no time to take on anything more, and still not enough money is coming in. I remember […]

The post Bust Through Your Revenue Ceiling appeared first on MNIB Consulting Inc..

]]>

Hitting a revenue ceiling sucks.

While everyone else is freaking out about how the latest change to the Facebook algorithm is going to kill their lead gen …

There you sit.

A calendar chock-full of client work, no time to take on anything more, and still not enough money is coming in.

I remember when I first hit that point, I tried following all the advice about how to “scale quickly.”

I built group programs. I brought on contractors. I raised my prices. I switched to retainers and productized my services.

And I just ended up more stressed, more frustrated, and with less money and time to show for it.

Maybe you can relate.

So what do you do when you’re in that situation?

Here are three steps you can take if you want to be able to expand your business’ growth capacity and blow through that revenue ceiling.

Here they are.

1. Get the Cash Flowing

The first thing you need is to free up some cashflow.

That’s pretty obvious. If you don’t have cashflow, you can’t invest to grow your business.

Now, that might mean you need to raise your prices, it might mean that you need to reduce the amount of effort that goes into delivering your product, it might mean you need to do both.

But we need to free up your cashflow to a point where 15% of the money that comes in not being spent; staying in the business as profit.

Once you’ve got that in place and you got the cashflow sorted out, then you can go to step number two, which is to start to reallocate.

2. Reallocate

If you’ve been able to set aside 15% for profit, you can now temporarily reduce that to 10% and use the difference to fund your growth.

You can use that to hire someone. You can use that to reinvest in the growth of your business. You can use it in any number of ways.

But the key is that the investment that you make should see a return on that investment. If you hire someone, they should increase your business’ ability to generate more revenue.

That way, the costs remain the same, but your revenue increases.

Over time, your profit will also increase back up to 15%. It gets back up to 15%, you can start to reinvest again, drop it down to 10, allow that investment to achieve its return …

You get into this really nice cycle where you’re able to continue to grow your business without hitting a ceiling.

3. Don’t Save Time, Expand It

So once you’ve got the profit, How do you reinvest?

A lot of people think, “Oh, I should hire someone” and that can be a great answer.

But when you’re hiring, it’s really important to think about expanding time, not just saving time.

Because the truth is, there’s only so much time you can save. Hiring a VA may give you a few extra hours a week but what if you were to hire someone to do sales calls or to do your coaching calls?

Then you’re starting to create more time, more capacity, more ability to do amazing things in your business.

So, when you hire, think about how you can create time instead of just saving time.

Your Turn

That’s what I’ve got for you today; just three really quick things to look at if you feel like you’re in a situation where you’re at a revenue ceiling.

The question is, which of these three things is going to be the thing that’s going to make the biggest difference for you?

Is it freeing up cashflow, is it reallocating profit, or is it expanding your time through hiring instead of saving time?

Send me a message on Facebook; I’d love to hear which of these three things you’re going to prioritize … or if you don’t know we can chat about it, and find an answer together.

The post Bust Through Your Revenue Ceiling appeared first on MNIB Consulting Inc..

]]>
How to Beat the Short-Term, Long-Term Tug Of War https://mnibconsulting.com/tug-of-war/ Tue, 13 Feb 2018 21:34:47 +0000 https://mnibconsulting.com/?p=11445 The other day, I was chatting with a client and a few things came up that I wanted to share with you. As a bit of background, this client has a really successful coaching business, and we’d spent quite a bit of time getting her foundation solid. We killed off products that weren’t working, re-focused her […]

The post How to Beat the Short-Term, Long-Term Tug Of War appeared first on MNIB Consulting Inc..

]]>

The other day, I was chatting with a client and a few things came up that I wanted to share with you.

As a bit of background, this client has a really successful coaching business, and we’d spent quite a bit of time getting her foundation solid.

We killed off products that weren’t working, re-focused her on the clients that she gets the best results for, and started getting her profits in line.

And for what she needed at the time, it was the perfect medicine.

But she was feeling like her business was one big game of tug of war. Too many things pulling at her attention, too many possible priorities, too many things to work to.

So we sat down and talked it through.

One of the things we looked at was why she was getting so yanked around.

She asked me,

“How do you decide what to focus on? How do you balance the long terms with the short term, especially when you want to bring in some extra cash or hiring someone? How does one even go about that?”

Now, I don’t know if that’s something that you’ve ever experienced:

Where you are in a constant tug-of-war between the long-term and the short-term, with too many good options and no real clear idea of which one will actually get you where you want to go.

But just in case you are, here’s the process we take our clients through:

1. Know Why Your Business Must Exist

It all starts with the reason your business HAS to exist.

What is TRUE about the way things are or should be, even though they are not currently showing up that way in reality.

Once you know that, you can boil it down into a long-term (10+) year vision, and a shorter-term, 3-year mission.

 

2. Define Your Actions

From there it’s all figuring out what needs to change in 3 years time to make that happen.

We do this both in terms of setting measurable targets for profit, revenue, team, direct impact, and client success …

And in terms of the practical: making a big wishlist of all the things that need to change for us to get there.

Then when it comes to quarterly planning, it’s simply a matter of looking at our targets, and then looking at the list and asking, “okay, what things are we going to cross off the list this quarter?”

Every quarter, back to the list, until it’s mission accomplished.

 

3. As You Get Closer, Update Your Targets

Now, you can get a lot done in a quarter.

In fact, as Brian Moran says in The 12 Week Year, when you do your quarterly planning right you can get more done in a quarter than most people do in a year.

That’s why we update our targets (profit, revenue, team, direct impact, and client success) and our wishlist every year, to make sure we are always connecting the long-term vision to the short-term success.

 

4. Leave Room For Flexibility

Now, this is all great in principle, but what happens when there’s an unforeseen opportunity?

Or when you get a great idea that threatens to take you away from your quarterly or annual priorities?

The good news is, you don’t have to ignore them.

You just have to put them in their place.

For example, if we want to generate some quick extra cash, there are two scenarios:

  • The extra cash is because we’re not on target to hit our revenue goals. In this case, the cash is in support of the long-term revenue so we can do a short-term sprint to make it happen.
  • The cash is on top of our revenue goals. In this case, the important thing is to make sure the rest of the business will running and hitting targets. Then we can use our 10% or 20% visionary time each week to play with things and make them happen.

The second situation is actually the more dangerous one of the two, by the way.

As a visionary, you’ll always keep coming up with great ideas and need the flexibility to make them happen.

If those ideas derail your business and get it off-track from its big plans, then not only will you miss your goals but your team will be miserable and so will you.

At the end of the day, the best way to win the tug-of-war is just to get out of it entirely.

Because if you can get the business to take care of itself day-to-day, then it will just keep running while you go off to play.

The post How to Beat the Short-Term, Long-Term Tug Of War appeared first on MNIB Consulting Inc..

]]>
Why Selling More Hasn’t Helped, And 2 Things You Can Do About It Today https://mnibconsulting.com/selling-more/ Wed, 24 Jan 2018 15:05:40 +0000 https://mnibconsulting.com/?p=11434 Not too long ago, Jill and I were talking with one of our clients. She gets AMAZING results for her customers, so it’s no surprise that she has a waiting list a mile long. But the problem was … No matter how much she would sell, she just couldn’t seem to get ahead. And so […]

The post Why Selling More Hasn’t Helped, And 2 Things You Can Do About It Today appeared first on MNIB Consulting Inc..

]]>

Not too long ago, Jill and I were talking with one of our clients.

She gets AMAZING results for her customers, so it’s no surprise that she has a waiting list a mile long.

But the problem was …

No matter how much she would sell, she just couldn’t seem to get ahead.

And so I asked her, “How much does your BUSINESS make every time you make a sale?”

The answer: “What do you mean?”

Why you can’t get ahead

Here’s what’s going on. Imagine you run a construction business.

Your client hires you to as the general contractor for a $5 million dollar project.

At the end of the day, because your projects ALWAYS end on time and on budget, your client gratefully pays you $5m in cold hard cash.

Time to retire to the beach, right?

Well, no.

Because of that $5m, only a small portion ever belonged to your business.

Most of it actually belonged to the subcontractors doing the work. You collected on their behalf, but it wasn’t ever really your money.

What’s more, even after accounting for that pass-through revenue, your business still may not have made any money.

Why?

Because you’ve got overhead. Advertising, administration, accounting fees, licenses, taxes, and your own salary, to name just a few.

So the question is, what’s left after all of that?

If you’re like our client, the truth may be next to nothing. Or worse, LESS than nothing.

Here’s how to fix it:

Your business needs the same things that our example construction business does:

First, it needs to make money for itself.

And second, it needs to be able to use that money proactively to fund growth.

1. Track What’s Actually Yours

The first thing you need is to know is this:

Of every dollar you bring in, how much actually belongs to your business?

Because just like with our construction business, the money you bring in ISN’T necessarily your real revenue.

Sales tax, for example, is never actually your money. You collect it on behalf of the government.

Subcontractor fees are another common example.

Say you’re a copywriter. If you’ve got someone who helps you actually do the writing and they’re not an employee (so, they pay their own taxes, may take other clients, etc.) then the money that goes to pay their fee, commission or retainer isn’t really ever yours.

And then finally, we also consider things like affiliate commissions to be part of this equation. You may bring in $1m on your launch, but if $500k of that actually belongs to your affiliates, it wasn’t ever your money in the first place.

Whatever the case is for your business, the first step is to figure out what’s actually yours.

Once you’ve done that, then you know what you’re working with and can move onto the net piece.

2. Plan to Spend for Growth

The second thing you want to figure out is how you can spend to make your goals happen.

In other words, if you want to increase your revenue, how will you need to change your expenses?

Notice that this is different to how most of us naturally think about it.

We usually think of it as “first we increase our revenue, then we’ll be able to spend more” … but this isn’t really the way it works.

If you keep doing exactly the same things, you’ll keep getting the same results. Change how you spend, and that will affect how much you make.

Of course, you need to do this in a way that’s going to actually be ROI positive.

The way we do that is by looking at what your goals are, and what the bottlenecks are to achieving them.

  • Do you need more capacity? Spend money on product fulfillment.
  • Do you need more margin? Spend money on optimization.
  • Do you need more time? Spend money on team.
  • And so on.

The important thing, of course, is to figure out what your bottleneck actually is rather than just jumping to conclusions.

These Are Your Action Steps

So if you feel like no matter how much money your business brings in, you just can’t seem to get ahead, these are your two action steps:

First, track what’s actually yours. And second, plan to spend for growth.

In our clients’ case, when we did this we discovered that her biggest obstacle was her margin.

She was paying too much to subcontractors and so no matter how much she tried to “scale up” or sell more, she was just getting further and further behind.

We helped her figure out how much of the revenue coming in actually belonged to her.

Then we could make a plan for how she would spend the rest, so she could grow her business.

Just taking those two simple steps has already been paying off—so hopefully the same will happen for you.

And if you’ve got questions about how this all works, feel free to reach out on Facebook and ask. I’d love to help.

The post Why Selling More Hasn’t Helped, And 2 Things You Can Do About It Today appeared first on MNIB Consulting Inc..

]]>
5 High-Value Things To Spend More Time On As You Step Into Your CEO Shoes https://mnibconsulting.com/high-value/ Thu, 18 Jan 2018 14:52:12 +0000 https://mnibconsulting.com/?p=11418 Back when I worked in post-secondary, I had a saying: My time is my currency. Few things frustrated me more than having to put in time at a desk, especially when it was busy work or pushing papers around. Even 5 minutes of low-value work is too much for me. But I have no problem with doing the […]

The post 5 High-Value Things To Spend More Time On As You Step Into Your CEO Shoes appeared first on MNIB Consulting Inc..

]]>

Back when I worked in post-secondary, I had a saying:

My time is my currency.

Few things frustrated me more than having to put in time at a desk, especially when it was busy work or pushing papers around.

Even 5 minutes of low-value work is too much for me.

But I have no problem with doing the high-value work that matters.

Now as you may know, we run an accelerator mentorship of sorts—a 6-month, 1:1 mentorship where we help them structure the inside of their business for sustainable scale.

And in this accelerator, one of the big things we focus on is getting everyone focused on being the CEO of their business.

Which means, they need to be doing their highest value work.

So we get them to track how much time they’re spending on various things, and then together we look at how we can increase the high-value work and decrease the low-value work.

But this begs the question, what constitutes highest value work?

What should you, as the CEO of your business, be doing every day, anyway?

Well, it ties into what we’ve been talking about over these past few weeks, in terms of all the jobs you could be doing in your business and what the return on investment is for them all.

So what I’d like to do is give you a run-down; five of the highest-value activities you should probably be spending more time doing in your business:

1. Creative Problem Solving

The first thing you probably should be spending more time on in your business is creative problem-solving.

See, as the CEO of your business, it’s really easy to get stuck solving all the problems.

But the truth is, most of the problems your business is dealing with right now aren’t high-value. In fact, most of the challenges you’re facing have already been solved … by someone, even if not by you.

Solving the big problems, though? The ones that you can’t just Google the answer to, or just hire an expert to figure out for you?

Those are worth sinking your teeth into.

Apply your brain, your smarts and your creativity to solving those problems, rather than getting sucked into the day-to-day decisions, and you’ll notice your business growth increase dramatically.

2. Setting Mission, Vision & Culture

If I’ve said it once, I’ve said it a thousand times:

If you want people other than you (ie. your team) to care about helping you grow your business, it helps a lot if they have a reason to do so beyond just making you more money.

That’s why setting mission, vision and culture is the second high-value thing to spend more time on. Because when you take your passion for the business, and multiply it by all the people you’ve got on your team … #magic happens.

It’s so critical, in fact, that it’s one of the very first things we tackle in our intensives. For some people, it’s about creating jobs for other moms. For others, it’s about connecting people to something greater than themselves.

What is it for your business?

By the way, if you’d like a hand answering that question, send me an email. We can jam on it; I’d love to help you get a bit of clarity.

So that’s the first two things; #1 is applying your creativity to solving the big problems, and #2 is setting the mission, vision and establishing culture for your company.

3. Exploring New Ideas

Next up is new ideas.

Now, I’m sure you have no shortage of new ideas … but how much time do you give yourself each week to explore those ideas?

I mean, we’ve got a few clients who aren’t the typical visionary types. They are more interested in implementing ideas than coming up with new ones all on their own.

But most of our clients are the types who will have 20 ideas a week … or maybe a day … but probably only one of them will be a truly great idea.

How can you tell the ideas that will be great from the ones that will be duds? The only way is to have the free, unfettered ability to research and develop those ideas: to see which will sink, and which will swim.

That’s why spending more time exploring new ideas is the third high-value thing you may want to consider spending more time doing.

4. Relationships & Partnerships

You’ve heard the saying “a rising tide lifts all boats”, right?

It can be so easy to lock yourself in a room and never talk to anyone, especially if you’re an introvert like I am. Though I’m told that extroverts in the online business world find this a challenge, too!

When it comes to being able to work through new ideas, though, it’s so much easier to do when you have other smart people around you to play off of.

In fact, pretty much my favorite thing to do is to sit down and just have a virtual coffee date with a friend or colleague.

Sometimes, we have a purpose to our conversation—like mapping out a new partnership idea, or getting feedback on a specific idea one of us is testing out. Other times, it’s just a chance to sit and have a really good, smart conversation with someone else who “gets it.”

Either way, I always leave these conversations feeling excited about what I’m creating in the world, and full of new ideas to make it happen in an even better way.

It’s something that most entrepreneurs simply do not do enough of.

5. Uncontaminated Time

And finally, the fifth thing that you really could be spending more time on …

Not working.

At one of our first ever intensives, one of the participants coined it “uncontaminated time”—as in, time you spend not thinking about or working on your business.

Dan Sullivan, founder of Strategic Coach, calls them free days: periods of 24 consecutive hours where you completely disconnect from anything and everything having to do with the business.

I’ll be honest: this is a hard one.

Most of our clients say that it takes them 2-3 days of vacation before they can actually get to a point of disconnecting enough to experience truly uncontaminated time.

But the rewards are huge. Never mind the benefits of just taking a break every once in a while, but it’s also a really great way to kickstart your creativity.

So get out into the world. Get away from work. Spend some more time not working, thinking about work, checking email, or reading business books.

Whether it’s a week vacation every month, or a long weekend every week, I can pretty much guarantee that everyone reading this would find more uncontaminated time to be one of, if not the highest-value thing you can do for yourself and your business.

Now over to you …

The question I have for you is now is: how much time do you spend kinds of on these high-value activities in your business?

Like I said, it’s a question we have our clients tracking and reporting on all the time. Both because it gets them spending more time in their Zone of Genius, but also because it actually contributes way more to the overall growth and health of their business than all the other low-value tasks they’d otherwise get sucked into doing.

We ask them to benchmark it, and then we look at how to change things in their business so they can spend more time on those things and less on all the other busywork.

So here’s some homework for you: do your own benchmarking. Ballpark how much time you currently spend on each of those 5 high-value things in a week. How much time you spend:

  • Doing creative problem solving of the big problems
  • Setting mission, vision and culture
  • Exploring new ideas
  • Building relationships and partnerships
  • In uncontaminated (ie. non-business) time

And if you’d like, you can pop on over to Facebook and let us know what your total was. Whatever your current numbers are, there’s no judgment: just let us know, and if you do, we’ll give you a bit of help to figure out how you can make those numbers grow.

The post 5 High-Value Things To Spend More Time On As You Step Into Your CEO Shoes appeared first on MNIB Consulting Inc..

]]>
How to Figure Out What To Take Off Your Plate Next https://mnibconsulting.com/off-your-plate-next/ Wed, 03 Jan 2018 21:46:35 +0000 https://mnibconsulting.com/?p=11369 Confession: I hate creating systems. Truth be told, I just don’t have the patience for it. And so creating systems and processes quite literally isn’t in my job description. It’s in someone else’s job description … just not mine. See, there’s a lot of things that need to get done in a business. But when’s the last […]

The post How to Figure Out What To Take Off Your Plate Next appeared first on MNIB Consulting Inc..

]]>

Confession: I hate creating systems.

Truth be told, I just don’t have the patience for it. And so creating systems and processes quite literally isn’t in my job description.

It’s in someone else’s job description … just not mine.

See, there’s a lot of things that need to get done in a business.

But when’s the last time you sat down to think about what they all are, for you?

If you’re like most of our clients, you’ve probably never sat down to create a comprehensive list of all the things that happen in your business.

That’s why every time we start working with someone new, we help them identify the master list of things that need doing in their business …

So that we can then help them sort out which of those things they should keep doing, which should be moved to other people on their team, and which they’ll need to hire someone to take over.

The List: 25 Things To Be Done

Now, when we first started doing this work, we came up with the list from scratch every time.

But as we’ve done it over and over, we’ve found that there is a relatively short number of things that have to get done in every business.

Here they are:

  • New Ideas, Research & Development
  • Biz Strategy & Creative Problem Solving
  • Biz Dev, Relationships & Partnerships
  • Set Vision, Mission & Culture
  • Sell the Big Deals
  • Lead, Manage & Keep Team Accountable
  • Execute the Business Plan
  • Communicating Plans to Team
  • Prioritize Projects & Resources
  • Reach Sales Targets
  • Sell the Product
  • Market the Product
  • Create / Make the Product
  • Deliver the Product
  • Define Sales & Marketing Processes
  • Customer Service
  • Process Design & Control
  • Accounts Receivable / Payable
  • Budgeting
  • Financial Reporting
  • Human Resources
  • Office or Business Management
  • Web Design / Development
  • Analyzing Data & Testing for Marketing
  • Configure & Manage Internal Systems

From here, we next look at who on the current team is responsible for each item. Each gets a single name put beside it—the person who owns the responsibility for making sure it gets done.

This can sometimes pose a challenge because multiple people may be involved in any given task.

But that’s where it’s important to remember that it’s not about who does the item; it’s about who is responsible for each item.

In other words, regardless of who actually does the work, we want to know who is the one who needs to make sure it gets done.

There is always be only one person who is ultimately responsible for any given item. And if you’re not sure who it is, that means it’s probably you.

If You Feel Like Your Business Is Bottlenecked, This Could Be Why

For many of our clients, this is a very eye-opening experience.

Consider Denise Duffield-Thomas, who already had quite a large team when she came to us.

But even with all those people working with her, she found that her name kept showing up over and over again as she went down the list.

This, of course, was unsustainable.

And she’s not alone; it’s probably the biggest factor we find that leads business owners to feel like they’re the bottleneck in their business. Because no matter how good you are at delegating if you are still the one ultimately responsible, you’ll never be free of the day-to-day.

That’s why the next questions to ask yourself are:

And so the next question to ask is:

  • What from this list do you want to keep doing?, and
  • For all the things you want off your plate, what is your timeline for making it happen?

By being specific about these details, you can make and implement a plan for moving things around to other people.

What Needs To Be Taken Off Your Plate?

Of course, it’s one thing to know what you’d like to have off your plate; it’s quite another to actually use this knowledge to help you free up time for yourself in your business.

Which is why I’ve got a challenge for you.

Note: most people won’t do this. But I know that the one or two who actually do will be far more successful at freeing themselves up to spend more time in their Zone of Genius, over the next 90 days. Will one of them be you?

Your Challenge:

Go through the 25 Things To Be Done list right now, and write down who is responsible for each item in your business right now. Include contractors, regular team members, … whoever it is for your business. And don’t forget yourself (!!)

Then pick the top FIVE things that you are currently doing that you want to take off your plate ASAP, and put a star beside each.

If you want to start freeing yourself up so you can actually start doing the things you enjoy in your business, instead of doing the things you hate …

Then finding someone else to be responsible for those five things is how it all begins.

And if you’d like some help brainstorming ways to make that happen, then take a photo or screenshot of your list and send it to us via Facebook message.

I’ll take a look, and if there’s anything I can see that will make it easier for you to reach that goal, I’ll let you know.

Deal?

The post How to Figure Out What To Take Off Your Plate Next appeared first on MNIB Consulting Inc..

]]>
Is this the reason you’re stuck? https://mnibconsulting.com/why-youre-stuck/ Sat, 18 Nov 2017 18:02:11 +0000 https://mnibconsulting.com/?p=11127 So there’s this woman I know. She’s stuck in her business. For the past few years, she’s made about $300k, give or take. And she’s stuck there. Not for lack of trying, mind you. But as I look at her today, I can see the exact reason that she’s stuck … It’s in the questions […]

The post Is this the reason you’re stuck? appeared first on MNIB Consulting Inc..

]]>

So there’s this woman I know.

She’s stuck in her business.

For the past few years, she’s made about $300k, give or take.

And she’s stuck there.

Not for lack of trying, mind you.

But as I look at her today, I can see the exact reason that she’s stuck …

It’s in the questions she asks.

Here’s what I mean:

Think about the questions you’re asking right now.

  • How much should I charge for this?
  • What tool do I use for that?
  • How do I get more leads?
  • What emails go in my funnel?
  • What should I call this product?
  • Who do I need to hire?
  • Do I have the right words on my sales page?
  • Do I need a different product?
  • Should I shift what I sell and how I sell it?

Now, here’s the important part:

Are those the same questions you were asking a month ago … three months ago … a year ago … three years ago?

Because if they are then … is it really any surprise you are stuck?

If you’re still trying to solve the same problems and answer the same questions …

Why would you expect to be in a different place?

Remember the saying:

The definition of insanity is doing the same thing over and over and expecting different results.

Well, asking the same questions over and over is a form of doing the same thing over and over and expecting different results!

Here’s another example:

(And proof that we ALL do this)

I spent the better part of this year trying to figure out how to get more qualified leads into my business. The question I kept asking was, “how do I get more leads? how do I get more leads? how do I get more leads?”

And guess what?

I got stuck.

Until I realized that this is exactly what I had been doing.

I was just asking the same question over and over and over again. Solving the same problem over and over again. It’s no wonder I wasn’t moving forward—I was stuck asking and answering the same things!

And guess what?

As soon as I started asking different questions, I got unstuck.

So here’s the deal:

You can keep going back to questions you’ve been asking; you can keep trying to solve problems you know how to solve.

You can create new programs, you can hire and fire VAs, you can add more bonuses to entice buyers, you can build and rebuild your funnel, you can mess with your business model, you can do whatever it is and answer whatever questions that you have been doing for the past however long …

And you will stay exactly where you are.

OR you can decide to ask NEW questions and solve NEW problems — questions you’ve never asked before, and problems you don’t know HOW to solve — and you can grow into a whole new level of being.

It’s your choice:

Keep asking the same old questions you’ve been asking for the past however many years, hoping that this time you’ll find the magic answer that will change things …

Or start asking new questions. Solve new problems. And start moving forward again.

The post Is this the reason you’re stuck? appeared first on MNIB Consulting Inc..

]]>