You’ve seen from Level One and Level Two, the importance of getting the foundations and execution of running your business right, now Level Three focuses on YOU, and intends to give you the tools with which you can manage your business and your time to make that final step change towards being free from the daily grind.
To do this we’ll optimise your day to day activities, look closely at works well and not-so well in your business and what can be tweaked for optimal performance, and then, finally – what to do with everything you’ve built!
But first a quick recap of the steps you’ve taken so far…
Step 1: Your life plan – clarifying your plan for life
Step 2: Your numbers – understanding your business’ financial position and how to deliver your life plan
Step 3: Your path – HOW does your business generate the numbers necessary to deliver you a lifestyle you desire?
Step 4: Your team – creating an environment so your team is on the same path as you.
Step 5: Customer acquisition – Get the team to rhythmically acquire customers in a consistent, predictable, profitable, and routine way.
Step 6: Delivering excellence – Deliver your services to your customers in a consistent, predictable, profitable, and routine way.
So, what does Step Seven give you?
In the seventh step of the Masterplan, we look at monitoring the routine in your business so you can release yourself from the day-to-day and focus ON your business.
You don’t want to be bogged down in the operational side of the business anymore, even if the business is financially successful it still relies on YOU being there; to make decisions, do the work, run the meetings… These are huge constraints on the three things that signify freedom: your location, your time, and your money.
Step Seven teaches us to record and react to ‘alerts’ and ‘alarms’, touching on the use of trigger points – when this happens, this needs to happen.
This involves measuring performance of everyone (including you) in the team to ensure that:
1. Everything and everyone are aligned across the entire business
2. You have a scorecard that uses trigger points, for measuring alerts and alarms in real time
3. There is a constant feedback loop for learning lessons and to avoid repeating the same mistakes repeatedly.
Step Eight – What are the core levers that drive profitability?
Before adding more profits to the business, it’s vital that we plug any leaks, so you retain maximum value.
Looking for leaks such as when potential customers lost interest, and why, gives you the knowledge required to design the right ‘lever’ to pull and plug that leak.
The core levers that plug leaks and can be manipulated to increase profit are:
- Leads
- Conversations
- Customers
- Average Order Value
- Repeat Purchases
- Margins
The aim is to become less reactive and pull the lever BEFORE the leak occurs! Easier said than done, I know, but I can help you figure this out.
Step Nine – The four day week can be a reality!
Congratulations are in order – Your business is functioning effectively without the need for you to be there every day – now what do you do?
It might be difficult for you to let go, but the beauty is, you don’t have to do anything you don’t really want to.
With the constraints on your freedom lifted, you can go anywhere, for as long as you want, and spend without stress.
Step Nine looks at three key actions:
- Deciding on your future plan, for example build, invest, retire…
- Creating your future plan
- Identifying if it is the end of your journey or the start of a new one.
And that’s the three levels or the 9-Step Masterplan explained! Level One: The Foundation, Level Two: Execution and Level Three: Optimisation.
I’m a certified Entrepreneurs Circle Masterplan coach and so can help you navigate the nine steps if you need accountability and guidance. However, I am still that familiar mentor and sounding board that you’ve come to know over the years too. If you want to float some ideas on what kind of mentoring plan or growth strategy will be best suit your personality and business, then let’s just have a conversation.