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How Three Top Coaches Make More Money With Leverage
Most of us dream of making more money in less time. But it’s not about hustlin’ hard. You can make more money in less time with leverage.
In this article, I’m going to show you how three coaches and thought leaders have massively leveraged people power, but in different ways. These are all stories that have been shared with me on my Leveraged & Loving It podcast.
Case study 1: Just because you can doesn’t mean you should
Sam Riley, The Accelerant Group.
Sam Riley leveraged her business with virtual assistants.
“Because I could sit on my computer all day creating a landing page or I could send it to someone else to do”.
This has a massive advantage because it frees up her time to focus on the stuff she loves and the activities that make money.
“If you could jump on the phone and in 30 minutes do even a $500 sale, while someone else is doing a $20 task, like are you kidding me?”.
Sam’s saying is that while you’re paying someone to do something in their zone of genius that takes them a few minutes, you could be making even more money.
Key lesson: For the 20 bucks you’re going to save, it’s going to take you three weeks to work it out yourself.
Case Study 2 – Leveraging your networks.
Vanessa Talbot, Profile Builder for Coaches
Vanessa’s first foray into leveraging looked very different from Sam’s. During her coaching training, she went on a writers’ cruise. Many of the authors were complaining that they didn’t want to be visible. They didn’t want to build a platform. But they needed to. Or otherwise the publishing house wouldn’t sign them.
Instantly, Vanessa realised that there was a huge opportunity staring her right in the face. When she got back from the cruise she had a list of everyone’s emails. So, she wrote them an email directly explaining their problem and how she could help.
“BOOM. I got 7 paying clients up front in the US and they were my first coaching clients ever….and that gave me leverage within the Australian community… because I had international clients.”
Vanessa leveraged a community that already exists who was full of her ideal client. Not only that, she did it in a genuine way that wasn’t icky. It was focused on a problem that they faced and the solution she provided.
Key lesson: Make sure you’re tapped into your communities and are leveraging your relationships.
Case Study 3: Bigger isn’t always better
Peter Cook, CEO of Thought Leaders.
That brings me to my final lesson on leveraging people. This one comes from Peter Cook, CEO of Thought Leaders and it’s a cautionary tale. Before joining Thought Leaders, Peter had a business called, Love Your Business, with an office in Fitzroy, Melbourne, 10 coaches working for him and a Personal Assistant.
From the outside, it looked like the definition of a “successful” business. But, Peter still wasn’t breaking more than $120,000 a year for himself. Much less than he’d be making in corporate. He was frustrated.
He went to Bali with his wife and had a revelation that even though he was “successful” he could only afford 1 week holiday a year. That didn’t make sense.
“And one of the things I realised in all of that is the thing I enjoyed doing the most was coaching the clients. It wasn’t running the business. It wasn’t Monday morning meetings and recruiting and management, performance reviews and that whole business game wasn’t what got me juiced. I actually much preferred doing the coaching and working with the clients.”
He didn’t renew the lease on the office. He paired his business right back to just himself and the half a dozen clients he really enjoyed working with. He could now work one day a week while on holiday in Bali via his phone and laptop. He was making more money personally than when he had a bigger team and an office.
This is where knowing how leveraging works is key. It’s about getting more with less. The number of hours that Peter was working and the return on investment of those hours was higher than when he had a bigger team.
Key lesson: Leverage is about getting more with less. If you’re putting more in and getting less, it’s not working.
There you have three very different stories about how three extraordinary coaches and thought leaders make more money in less time with leverage. One expertly uses her team of virtual assistants. Another smartly leverages her networks. And the third found the sweet spot where his business supported the lifestyle he always dreamed of.
How are you creating leverage in your business?
“The opinions expressed by Smallville Contributors are their own, not those of www.smallville.com.au"
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