Matt Lloyd Tips: I just got home from Singapore … I was there hosting one of the main MOBE event lines, ‘The Home Business Summit’ on the weekend.
Whenever we launch this event in a new country, I always like to go and do the first one myself.
Like last month, I also launched in Sydney, Australia.
If you sell high-priced products, Singapore is a great market … very affluent.
1 out of 8 people who live there are millionaires (though this is mostly on paper–with the small geographic size, and the high demand for real estate, anyone who owns property is going to have a higher net worth on paper.)
Anyway, while I was hosting that HBS event, another 2 HBS events were being done in different parts of the world.
One was in Chicago … and the other was in Melbourne, Australia.
I purposely scheduled all 3 of them to be at the same time, to test if our staff and systems could handle it.< The plan is to be doing our events all over the world, every single weekend, simultaneously. When I roll out these events, I think very much like the owner of a franchise would. Think of McDonalds. This is a billion dollar franchise. The most successful and duplicated business model in the world.
The owners of McDonalds want every McDonalds around the world to serve fries that have the same predictable taste.
They do NOT want franchisees adding their own special sauces to the fries to try and make them taste better.
They do NOT want franchisees changing their prices.
And they certainly do NOT want franchisees messing with the way their stores are run because it’s a PROVEN and TESTED system that works time and time again in over 100 countries.
It’s the same with the events we do. Each one needs to follow the same structure, have the same content, etc…
One of the things I am constantly asking myself in my business, is “how can I duplicate myself in this area?”
I’ll give you another example.
Back in January, 2012 I had my very best month ever. After about $1,500 in refunds, the total for that month was $79,999.48.
I remember it vividly, because I was on the phone right up until midnight, calling back a lead in the USA selling one of my products, very determined to cross 80 grand for the month! (I just thought it would sound much better!)
Anyway … after that month, I realised that being on the phone all day was not sustainable.
There were other parts of the business I needed to be focusing on as well–like lead generation.
We all know that lead generation equals new clients, which equals new sales.
It doesn’t get any more important than that.
So … I began to look for someone else who could do the calls for me.
I actually put this off for several months because I didn’t believe anyone else would be able to do it as well as me, to my own leads.
But at the same time I knew it was paralysing the growth of my business.
So I made the all important decision to bring someone on and start to build my sales team.
I had the ‘positioning’ with them (they’d just bought the product) so that was largely why 1 out of 3 I spoke to who’d bought my $97 product, would then buy my $2000 products.
The first guy I hired, I paid 10% of the sales price to.
So if he got a 2k sale, he kept 10%.
I’d been recording my sales calls for a while, and saving the ones that resulted in a sale. So when this guy came on board, I just sent him the recordings, told him to listen to them a few dozen times, and then he could model what I did.
Did you notice the automation/duplication already happening here?
The first sale he got was one of the best sales I’d ever made in my business.
I was absolutely ecstatic.
Not because of the amount … but because of the fact it had been done with none of my effort or time required. It was the type of sales process that was scalable.
Now, was his closing % as high as mine?
And until they invent human cloning, you’re not going to be able to get the same level of performance as you might be personally able to achieve.
So the downside is a slight decrease in performance.
The upside is, you now free up your time with a mighty army of Mini-Me’s to allow you to focus on higher leverage activities–like scaling your business.
It really is all about having these sort of systems in place, think McDonalds, that allow you to work ON your business instead of IN it.
It really all starts with YOU.
What tasks do you want to remove from your day-to-day to allow you to work on the higher leverage activities we already spoke a
Then it’s about hiring the right staff.
And sure, sometimes you’ll hire the wrong person if they end up being the wrong fit.
But if you have; measurable standards, the correct training and procedures in place, you should have a high retention rate of the right staff.
(By the way–if you’re looking for a position on the MOBE phone sales team and you have experience, you are welcome to apply HERE.)
I continue to do this in all parts of my business today.
Tech … finance … marketing, etc.
I even outsource my outsourcing.
There really is no limit to how much you can duplicate yourself in your business to free up your time, focus on the important things and leverage yourself over and over again.
If you’d like to know how to duplicate yourself better in your business by finding the right people, you can go HERE for more details.