Tactic #3 Leverage - Do More With Less
Cutting expenses and finding your margin doesn’t necessarily mean slashing quality or delivering less.
It does however, demand getting the job done with less money available to do it, and this will create a dynamic tension inside your business. (Leverage)
When the market shifts your organization must shift too. A market shift can be an opportunity to evaluate, upgrade, and top grade your busi- ness, an unsolicited gift of the shift.
- Instead of hiring just to get the work out, it may be time to reassess and top grade your people.
- Instead of just managing the flow it may be time to retool and upgrade your systems.
There is an old saying in sports “if you want to stay ahead then play like you’re behind.” The challenge you might have is that you’ve been ahead and played like it.
Now you’re behind so what do you do? You do what all great business people do—you focus tightly on the basics.
- What are my business priorities?
- When do they need to get done?
- Who isthebestpersontodothem
- And,finally, howshouldtheybedone?
THE SIX CORE COMPETENCIES OF A BUSINESS
- Lead generate, capture, and convert to appointments 2. Present to buyers and sellers and get agreements
- Show buyers and market sellers
- Write and negotiate contracts
- Coordinate the sale to closing 6. Manage the money
“Capacity” talent, on the other hand, can do their job and much more. They will push you for a larger role and more responsibility.
Capacity tal- ent is your greatest asset in a shift. They want to do more and can do more. They require less of your time and will accomplish more in less time. Theymaycostmorebutwillalways make you more than they cost.
Capacity talent, real talent, will see the shift as their opportunity to shine and they will stand out in your organisation. Always keep in mind that you can’t do more with less(er) talent, but, with real talent, you can always do more with less.
Try to flatten your organization as much as possible. Less bureaucracy usually means more productivity. Create an environ- ment of open communication and feedback.
An adaptive group always expects change whether forced on them or caused by them.
To grow, let go. Let go of preconceptions of people and systems and what you think they should do. Start with what you have and build from there.
Build core competencies around what really matters and associate with people who are on the same page as you.
Now more than ever, your personal actions, your people, and your systems must be focused on the 20 percent that matters.