How To Do More With Less
The hidden stress nobody talks about
When he started his first business, all our CEO Alex Hormozi wanted to do was work. We’ve been told this the majority of our lives. “If you work hard enough you can succeed in anything.” Clearly this is how all successful entrepreneurs operate, right? Kind of.
As your business grows; the requests from you will also grow. we get it. As entrepreneurs, we want to crash everything and try as many things as possible. Until you realize that your time and attention are your greatest assets. Then you realize: Sometimes you have to go slow to go fast. Check out this piece by the New York Times about Decision Fatigue. Understanding this changes the game.
It’s no longer about how much you can do. Small steps incrementally move the business forward. The question becomes; what’s the one thing you can do to massively move the business forward? When you answer that question everything else is obsolete? This is the game.
Next time you’re hit with an idea to try something new; pause. Do nothing. There is no shortage of ideas floating around on the internet or from your internal team. It’s not your job to implement all of them. It’s your job to identify the one rock you can move now to have the biggest impact.
We’re going to show you how to do that. But first you need to be aware of some negatives.
The hidden stress nobody talks about
There are two difficulties that come with this.
- You’re an entrepreneur.
That means you ALWAYS have ideas. Tell us if this sounds familiar. You come home from a mastermind or event.You have 39 new ideas to implement. Not good. This makes you reactive. You want to be proactive. Making decisions on your heels and constantly fixing the last decision leads to burnout, or worse.
- You’ll do far less.
Some of you are you’re like, “heck yea man, sounds good!” Most of you are freaking out a little. Here’s what we mean. Chances are you got to where you are, in large part, because of your work ethic. When you hear “do less,” part of you start to get angry. Someone is definitely murmuring…”damn millennials.” Truth is, however, applying that same work ethic to ONE bottleneck, creates magic.
So don’t look at it as doing less. Look at it as herculean strides moving your business forward.
Since applying this fundamental we always hear, “how do you get so much done?” Truth is, do a very small amount of “work.” What you choose to work on creates waves and momentum at scale.
Here’s how to laser target your attention
Your business is broken down into 5 core functions. Knowing your numbers will help you create KPI’s for each core function of your business. Knowing your KPI’s is the game. With a firm understanding of your KPI’s you can identify bottlenecks. Identifying bottlenecks will tell you where to put your attention. This makes your decision-making process much easier.
The 5 core functions are
- Lead Generation
- Lead Nurture
All businesses work within these categories:
- Leads are generated (doesn’t matter how)
- Leads are contacted until an appointment is set
- Leads are converted into customers
- You provide service and/or products
- The one-time buyer becomes a long term customer.
Here’s a simple look at how we measure this for our gyms:
- 100 leads
- 70 showed
- 35 became buyers
- 35 implement/execute front end program
- 26 become long term EFT (monthly recurring) members
As a bonus: Separating your ideas from your KPI’s allows you to make smart choices. Smart choices leads to making more money. Separate lead gen from sales. This one move eliminates the statement, “we need more leads.” Maybe, maybe not. Let the numbers do the talking. Are you weaker in lead gen (based on your KPI’s)? Or, are you not closing enough leads (based on your KPI’s)? Ask a salesperson and it’s always the leads. Ask a marketer and it’s always the sales team. Take the emotion out and make a smart decision.
Allow yourself to do less. Watch your anxiety drop and watch profits soar.