Tuesday, February 22, 2011

Lumpy Billings

A classic problem for most service based consultants is the challenge of getting work when you are consumed delivering work. A project ends, a client adjusts their plans and you're left holding the empty bag. You think it's ok and you're priced well but after a few years you wonder why it's not working. The answer is actually one you know.

You are an expert but you are not an authority.
You need to become a thought leader.

Your ideas are valuable if they are relevant.
Your ideas are even more valuable if they are thorough.

If you can then make them elegant and unique, you are ready to rock and roll.

This way you can start to truly leverage your positioning and get free of the lumpy billing syndrome.

Drop me an email and we can discuss how you move from subject matter expert to industry authority.


Tuesday, February 15, 2011

How are you keeping score?

How are you keeping score?

Measure what matters and be sure you know what matters.

I have been thinking lately about the focus many business owners have on growth. Turnover increases many of the headaches small business owners face. Now don't get me wrong, if you are entrepreneurial and going for the big kahuna exit plan, then focus on growth. Make the numbers awesome and be sure to keep your eyes on the prize and plan your exit strategy from the get go.

If however your decision to go into business was more lifestyle oriented, then you need to spend some time thinking about your take-home, not your turnover. When we teach the Million Dollar Expert Program we help graduates focus on earning as much as they can delivering extraordinary value and then take that income and put it into capital growth assets. When you run a practice, you are less likely to sell the practice for lotto like numbers, so make sure you take the money along the way.

Take-home may be more important than turnover.


Tuesday, February 8, 2011

Get Help

There are three key roles infopreneurs need to develop within their Million Dollar Expert practice.

Make Up, Set Up and Clean Up; The role of the Thought Leader who makes up things, the role of the Business Manager who sets up things and the role of the assistant who cleans up things.

Depending on where you sit on the white to black belt ladder wil determine what roles you prioritise.

  • Make Up - The role of the thought leader is to create the IP, the services, the products and set the targets (eg. Number of working days and the income to process) and of course Delivery.
  • Set Up - The role of the business manager is to ensure the thought leaders days are filled with dollar productive activity, to ensure the targets are met, the project and event timelines are on track, client account management, and most importantly, sales.
  • Clean Up - Assistance for the business manager with general running of practice. eg. Confirming appointments, arranging travel, assisting with projects/ events, sending communications, meet and greet, stationary orders, product fulfillment etc...

We suggest that in order of sequence, consider putting on a business manager (set up) at Green Belt (see image). Once you reach Red Belt, consider putting on an assistant (clean up).

The world needs your thought leadership, but you need to make a living. The million dollar expert program helps you to do both.


Matt Church

Thursday, February 3, 2011

Now and Next

Managing your focus is key to moving forward during difficult times. I define a difficult time as any time you have to make courageous decisions or move away from what is comfortable. Timeline is the big distraction here.

You may have had things happen in the past that erode your certainty and confidence. You need to explore how you have defined those past events and maybe consider reframing the meaning you attached to them. With a new meaning around what has happened to you, you can get free of the heavy weight of historical belief anchors.

Equally, you may be spending time worrying about the consequences of your decisions in the future. What will people think? What will people say? What if it changes everything I value about how my life is now? These questions are all a form of wasted energy, worrying about what might be is paralysing and prevents positive change. (Note: scenario planning is not worrying about the future, but rather rationally planning for possible futures and not what I am referring to in this post.)

Your focus needs to be on staying present to what is happening around you now, while taking positive next steps. When swamped by an uncertain future or simply overwhelmed by the enormity of the task ahead of you, focus on now and take a small next step. Now and Next will help you move mountains.

Matt Church