Monday, 23 June 2008

Leverage

I recently had talks with a firm about taking my business systems in sales and coaching/mentoring to a more international audience on a joint-venture basis. I'm looking forward to progressing things.

In a service business - especially when one chooses to work as a micro-business - you eventually reach a stage where you cannot physically grow much larger or create any further revenues - short of increasing your standard fees. At that point the need for leverage becomes apparent.

To grow further or to get to a stage where your IP can be richly mined then in a service business such as mine, there exists the opportunity of leveraging the business through technology - audio/DVD training programmes, the Internet (on-line coaching programmes, e-books and social networks) and
finally through joint-ventures or investors.

Its never easy for an entrepreneur to 'let go' of their business. After all, it's their 'baby'. However we have to realise that it is just that - a business - designed to attract, serve and retain customers for a profit. It is a separate legal entity where one has created a corporation or limited company. Just like any child there comes a time when you let it go in order to grow.

Once you do, you may discover there are new worlds and markets to create and succeed in.

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