The title of today's article sounds a bit like an oxymoron — after all, leverage is that thing we all strive for in business. . .how can it possibly become a liability?
A few examples. . .
There's been a trend over the past year or so to create high ticket "platinum" programs and hire someone else to run them.
It makes sense from a leverage standpoint — less of your time (someone else runs the calls, answers the emails), more revenue (it's a high ticket program — usually over $10,000 — and is quicker than making/selling products) and you only show up for live retreats (built in celebrity status).
Clients join the program for access to you because of what you've done, your reputation, etc. The leverage you gain comes with the cost of how your clients feel about the arrangement.
From a client perspective, why would I pay a "high ticket" price to you to be coached by Coach X when I could hire Coach X on my own for less money and more personal access?
In business overall
Systems are a wonderful way to leverage yourself in business (and in life).
You can take any task and make it simple through systems — like connecting the dots — so that anyone (or sometimes technology) can take over for you.
The issue, of course, is that you can lose the human touch. People generally like to connect with people and you want to be sure to include some personal touches throughout your business as you streamline things to make everything as efficient and effective as possible.
Systems are an integral part of your success, not the "be all end all".
With your team
Having a skilled team on your side can make all the difference in the world to your business.
A good team both supplements and complements you.
When taken too far however, your team becomes the only point of contact for your clients and prospective clients — creating an "ivory tower" of sorts where you're totally inaccessible and lose touch with what's going on in your own business.
When it comes to creating leverage in your business, you want to strive for balance — balance so that you're as effective and efficient as possible without losing either your touch or your perspective.
My Request To You
In building, or further optimizing, your business, think of those things which are most important to you and which you don't want to "lose" through over leveraging.
Grab a pen and paper and make a list of the values you hold important for your business.
Here are several of my top values:
· passion and purpose
Note that it's not bad to value money — in fact, it's instrumental to your success.
What are some of your top values for your business?