One Thing: Day 275: You Didn’t Ask for This
Day 275: You Didn’t Ask for This
Yesterday I was explaining the hacks of 80 / 20 sales.
Ultimately selling is about persuasion.
Speaking of persuasion…
Parenting can be hard.
I remember trying to teach my daughter that “penis” isn’t a dirty word…
But that she’d still need to pick a different name for the puppy.
Your ONE COACHING THING Today Is:
’80 / 20 Management’
You didn’t ask for this… LOL but I am going to deliver it to you anyway.
Most people are tactical and not strategic.
Therefore, to give you a list of 80 / 20 rules for sales (yesterday) and not follow it up with ’80 / 20 rules for management’ seems disingenuous.
DATA is of critical importance.
But not the amount of data… it’s the quality of the DATA that matters.
We have a ton of digital marketers that work with us.
As in, the Facebook Guy / Gal.
We teach them to become FULL STACK consultants rather than delusional enough to keep thinking FB ads are the solution to everything.
Example: if a client has a cashflow problem or an accounts receivable issue…
thinking FB ads will solve it is like having a hole in your boat and going further out into the lake to plug the hole.
The digital marketer will drive traffic to a landing page… make changes and see an increase in “conversion” (number of email addresses entered) and decide they’ve succeeded.
PROBLEM: they don’t follow the new lead to see what the more important conversion to SALE is.
In other words… your client can increase conversion on their landing page and actually make less sales.
*Less sales and money to pay you cough cough*
Here are some 80 / 20 management hacks:
1. When you look at the decisions a business owner makes… not many make that much of a difference. Time-consuming analysis is not necessary, make a decision, and move on.
Course correct where necessary.
Example on our business coaching software… early on we made a decision to go from 11 areas to 12 areas on our “Profit Jumpstart.”
We ALWAYS want our coaches to be able to earn their 12-month coaching fees in the first 30 – 90 days… Probably seems like a straightforward decision, to add the new category, but many factors were affected.
An important decision was made in an instant.
We also needed to hire a new software engineer recently… not the easiest decision in the world when you consider the 2nd and 3rd order consequences.
We knew who we wanted, when we agreed, we decided QUICKLY, hired him, and moved on accepting that we’ll course-correct if and where necessary.
2. If and when you decide something isn’t working decide sooner rather than later.
3. When something is providing a positive return, double your resources in that area… and keep re-upping for as long as you can.
Pour gasoline on fires that keep your company warm.
4. An extension of number 3 is to not settle for modest growth/return. Look for 10 X, 50 X and 100 X returns. They’re easier than you think.
5. An A+ staff member is worth ten B staff members… hire and recruit accordingly.
6. Simplify projects so that you and your staff can focus on the 20% of activity that’ll garner 80% of the result.
7. Spend time creating a detailed plan prior to execution, with an 80 / 20 mindset. The 80% will become obvious prior to starting and you’ll have a much more successful / quicker project.
8. 20% of the problems will result in 80% of the wastage/cost overruns.
9. Companies that have inventory… carry too much of it and crush profitability.
10. Eliminate inventory that is not moving and move high volume inventory into the most easily accessible areas.
No doubt there are many more… but when you and your clients start operating businesses with an 80 / 20 mental model, MAGIC can happen.
You heard it here first.
Obsessed with your business coaching success,
Karl Bryan aka King Karl
PS. Nobody cares about your story until you win.
PPS. If you’re looking for a proven system to follow for your coaching…. I created business coaching software and high-end step by step training to support it…
It’ll teach you ‘How to find any small business owner $100,000 in 45 minutes without them spending an extra dollar on marketing or advertising.’
Imagine finding your annual $12,000 to $50,000 coaching fees BEFORE you started coaching your new clients?! And a proven coaching system created for you to follow with your new coaching client.
Reply to this post if you want to start following a proven coaching system.
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Karl Bryan gets clients for Business Coaches...period. He is the Founder and Editor-in-Chief of The Six-Figure Coach Magazine and Chairman of Leader Publishing Worldwide, home of the largest private community of Business Coaches (24 countries and counting) in the world.
His goal is straight forward… to help serious coaches/consultants get more clients.