This past week, two of our amazing coaches hosted a seminar looking at the ‘6 Steps to Business Success’. For the past 28 years, ActionCoach has stood by this six step methodology. We take each of our clients through this process which allows them to maximise and improve profits in their business.
Step One | Mastery
When we talk about mastery, we look at eliminating the chaos. Stripping mastery down to its bones we get the following; destination mastery, financial mastery, delivery mastery and the mastery. When applied effectively, you gain a stable business – one in which you are no longer concerned about paying bills or meeting other responsibilities.
Step Two | Niche
This step looks at what niche your business sits with its products and services and focuses on cash flow. If a business has a good amount of money coming in, it means they are able to grow at a more rapid rate. However, the majority of businesses are not making sufficient money to grow as fast as they should be. This step encourages you to know your market and how to profitably deliver your products and services to customers. By doing this, you are able to predict your cash flow and this is where your business can begin to generate cash for you at a consistent rate.
Step Three | Leverage
The aim of this step is to begin leveraging yourself out of your business to create more time for yourself through implementing certain systems. There are four ways in which to use leverage. These are; people and education, systems and technology, delivery and distribution, testing and measuring.
Step Four | Team
This is a crucial step in the process. Your team is the foundation for future growth in your business. Ensuring you bring on board the very best people for each role is important as it gives you the ability to take time off knowing that your team and business are still running effectively. Every member of your team should align with your vision, mission culture and goals for the business.
Step 5 | Synergy
The second to last step in this process is when everything clicks within your business – now, the output is greater than the inputs. This then allows you to begin strategising and making goals for your next steps in business – whether this is staying where you are, selling, franchising, or licensing, there is now passive income being generated within the business.
Step 6 | Results
This step is where you are now enjoying the rewards of the business and being faced with opportunities to invest elsewhere or take time off for you personally! This is the time to start looking at other businesses and opportunities that will create equity and cashflow. Options here include buying, building or selling other businesses. This is where you have achieved maximum growth, opportunity and freedom for yourself and your business.
Take Away Points
- Step back and work ON your business rather than IN your business.
- Six Steps = Massive Action = Massive Results
