The trade business flywheel.
What are you talking about Jon?
I was reading an article recently by the CEO of hotspot which is a digital marketing company
and he was talking about this analogy they have of a flywheel in your business, here's a wheel.
It's not particularly a flywheel but
a flywheel (as you probably know being a mechanically minded like you are more so than me) stores momentum
in a machine, in an engine and it keeps spinning after you turn the gas off
and it's got mass and it keeps turning. And he talked about momentum
in your business and how you could have a flywheel, all of the momentum
in your business. He uses the analogy.
Your engine or your business keeps going, keeps spinning after you've stopped applying force.
Perhaps if you've stopped paying for ads,
you'll keep getting customers calling and doing and looking for work even if you're not paying for ads-
that kind of idea about momentum.
We're mostly talking here about about word-of-mouth
or goodwill - the things that build up when you've been working in an area for some time.
You've got relationships, people go to your site anyway, you've got presence in your local marketplace.
You know word of mouth.
That stuff
gives your business a momentum. You don't need to always be pushing by paying for your ads or whatever
to get business coming in.
I'm talking about marketing of course.
I don't want to focus analogy to death.
If we can agree that a bit of momentum in your business is a good thing then I'll go back to to the analogy
and talk about how you can get more momentum
on the flywheel of your business particularly a trades business.
There are two ways to get more momentum in your flywheel or to push it faster and to apply force
and the other way is to reduce the friction in it and oil it some so it keeps spinning for longer.
Happy so far?
Good.
Well in a business context and in a trade business context,
the momentum, the force you can apply to your fire wheel is around marketing
and is around delighting your customers.
If you're not actively trying to do great work and delight your customers, you're probably in
quite bad shape for this discussion so let's assume we do a good job and you try hard to do job.
You could apply force to your flywheel by asking a customers to put reviews on Facebook
or on that Google Plus page or on the Google my business site or on your website.
You can ask people to hand your cards out to other people or a referral program and pass it on.
You can do things like that. You can actively encourage
the word-of-mouth part of your business and the like.
You can go those extra steps to put things in place so that people
not just get a good job but realise and understand enough knowledge that you've done a great job.
The follow up calls, the customer service course, "Is everything still okay?" in a few days later -
those cheap things to implement into your business
that change it from ordinary trade to excellent or amazing more different and noticeable and notable.
Do those things, apply some force, actively delighting customers.
The next thing is about friction.
How do we reduce friction in a trades business? Frictions are the things that make it a bit difficult
to do business with you that take some of the joy out of it.
And he talked a lot about how we all as consumers
like things, like uber where you don't have to talk to a cab driver, you don't have to call
a cab company to order your cab and talk to a person and seeing the queue,
how we like to order things online because you don't have to mess about talking to a salesperson.
He's bought a mattress online, he just jumped online, you could pay a price as you place your order,
no one's pressuring you or making you haggling with you over your mattress.
And it's true. We do like that stuff, don't we?
In a trade context there's a lot of friction. There's a lot of uncertainty about price.
There's a lot of uncertainty about when you'll show up.
There's a lot of uncertainty about booking appointments. There's a fair big leap of discomfort
for your customers between looking at your website and making an inquiry
so wouldn't it be nice if you could reduce some of that friction. Wouldn't it be nice for example
if you could book a time online for a trade person to come out and do your quote.
If you could no because you could see on your phone where it was how much longer he was going to be before he got to you?
Like with Uber. You can see that it's 2 minutes away.
That would be quite compelling technology to use I think in a trade business
perhaps for the smaller jobs.
Imagine if your price list was published online and your customers could come to your website and see
that replacing an extractor fan in the bathroom was gonna cost him $400 and they could book the job in now
and book time so you would come tomorrow, all that uncertainty gone.
And I could hear all your objections now.
Let's just understand that those are two examples I've given and I understand they're difficult
but imagine if you had that competitive advantage, if you remove some of that friction from your business,
how many more inquiries and bookings you might get if you could solve the problems
that make them difficult, I understand.
Think about how you can reduce the friction
in your business. How can you make it easier for your people to put work, get prices, get quotes and all that?
Think about the booking process. Think about the level of human interaction. We would have
much more self-service stuff at the initial part of a sales interaction I think as consumers.
There you go. Remove uncertainty about price.
Remove uncertainty about time.
This is whether you're a project trade or a maintenance trade. Clearly it's more difficult
to remove uncertainty about price if you're quoting for a kitchen or house, so many variables.
But let's think. You don't need to have no uncertainty, you could reduce the uncertainty
and make people's experience working with you that much nicer.
I've been mostly talking here and giving examples
about working with consumers - somebody buying a kitchen, somebody getting their toilet fixed or whatever
but it works equally well for businesses. Business people or people working in a business
also like to not have to do with uncertainty about time or about money.
They also have like to not have to integrate with a person and have that kind of personal challenge
while they're still thinking about things. I'm going to think harder on this and think what I suggest to you
and think about how we might overcome some of those problems in having
Uber type delivery of watching where your trades people are, that kind of thing.
I'll have a bit of a hard to think but for now soak up those ideas. How could you reduce friction in your business
and how could you increase some of that force on your flow.
It's the new year. See you later.
For more infomation >> The Trades Business Flywheel - How To Build Business Momentum - Duration: 7:07.-------------------------------------------
Reckless Love in ASL & CC by Rock Church Deaf Ministry - Duration: 5:45.
Before I spoke a word, You were singing over me
You have been so, so good to me
Before I took a breath, You breathed Your life in me
You have been so, so kind to me
Oh, the overwhelming, never-ending, reckless love of God
Oh, it chases me down, fights 'til I'm found, leaves the ninety-nine
I couldn't earn it, I don't deserve it, still You give Yourself away
Oh, the overwhelming, never-ending, reckless love of God
When I was Your foe, still Your love fought for me
You have been so, so good to me
When I felt no worth, You paid it all for me
You have been so, so kind to me
Oh, the overwhelming, never-ending, reckless love of God
Oh, it chases me down, fights 'til I'm found, leaves the ninety-nine
I couldn't earn it, I don't deserve it, still You give Yourself away
Oh, the overwhelming, never-ending, reckless love of God
There's no shadow You won't light up
Mountain You won't climb up
Coming after me
There's no wall You won't kick down
Lie You won't tear down
Coming after me
There's no shadow You won't light up
Mountain You won't climb up
Coming after me
There's no wall You won't kick down
Lie You won't tear down
Coming after me
There's no shadow You won't light up
Mountain You won't climb up
Coming after me
There's no wall You won't kick down
Lie You won't tear down
Coming after me
There's no shadow You won't light up
Mountain You won't climb up
Coming after me
There's no wall You won't kick down
Lie You won't tear down
Coming after me
Oh, the overwhelming, never-ending, reckless love of God
Oh, it chases me down, fights 'til I'm found, leaves the ninety-nine
I couldn't earn it, I don't deserve it, still You give Yourself away
Oh, the overwhelming, never-ending, reckless love of God
-------------------------------------------
Here's the 1 Thing You Need to Do in 2019 (and Beyond) - Duration: 7:03.
this video I want to share something with you that's gonna benefit you
greatly in 2019 that's something that I want to work on very very diligently on
with serious intent and regardless of whether it's to do with your personal
life to do with your career to do with your business this one thing is going to
be a huge benefit to you
I saw a red recently I saw a video about Bill Gates and Warren Buffett Warren
Buffett is one of the wealthiest men in the world is a legendary investor
businessman an investor and he owns a company called Berkshire Hathaway and
Berkshire Hathaway is in Omaha Nebraska and Warren Buffett is worth reckon one
hundred and seventy billion dollars that's billion dollars or thereabouts in
addition to Warren Buffett there's another man that you'll have heard of
called Bill Gates Bill Gates inventors Microsoft Bill Gates is worth about one
hundred and eighty billion dollars so between the two of them they're worth
something like four hundred billion dollars or thereabouts
and friends for a long time and when they first met a long time the law would
many years ago I don't know exactly when Bill Gates father asked both men to
write down on a piece of paper one word that helped them the most in their
endeavor to that point one word and remarkably both men wrote down the same
word and that same old is the word that I'm gonna tell you or advise you and me
to use in 2019 to ensure that we actually can do stuff get stuff done
that matters that word is focus both men independently wrote down the word focus
in terms of the biggest help in their endeavors to that point in their life
and heading into 2019 with the massive draw and call on your attention and on
your attention span with social media mobile phones and tablets and Kindles
and laptops and PCs and instant gratification and notifications and our
notifications and visual notifications it is actually difficult to really do
work serious work concentrated focus work in
that sort of an environment and the one thing that you need to focus on and I'm
gonna focus on in 2019 he's actually focusing on doing the work the important
or the concentrated focused work that I need to do to be the best
Solicitors I can be and to achieve the things I need to achieve and to ignore
the notifications to ignore the attractions to ignore the dopamine
rushes that you get from looking at notifications or lights or whatever from
social media and the various notifications that you might get and
distractions you might get from your mobile phone my focus for 2019 is
ironically to focus on that one word and that is focus I want to be able to do
deep work I want to be able to do concentrated work I want to be able to
do work that matters and I think you if you're honest just like me
will have noticed over the last number of years with the growth of the
smartphone and the growth of social media and the growth of apps and
notifications and so on that are vying for your attention I think you'll accept
that your concentration your ability to concentrate and your ability to focus
has probably shortened to narrowed and diminished and degraders and that's
something that I'm going to address in 2019 I'm gonna get back to really
working with intent and intention on the things that matter and I'm gonna do that
by being able to and working on that one more focus I did another video not too
long ago and I'm gonna link to it and on the top decide no they said I'm
gonna link to their that's a video that I did about a book written by a guy
called Cal Newport Cal Newport is a Georgetown University professor and the
professor of computing he went to MIT where he wrote a book called deep work
and deep work is basically Newports thesis about being able to do really
good quality concentrated focused work and the necessity for us nowadays to
actually battle against the distractions of your smartphone mobile phone social
media and so on so I'll link to that on the right hand side as you look up this
side have a look at it it's a similar video to this one but to get back to my
original intent with this video is to give you one thing that I suggest will
do you huge benefits in 2019 and it's something that I massage I'm going to
personally commit to and have been actually over the last few days that is
to really with intent to focus on work that really matters and try to block out
and ignore the degrading attention-seeking
stuff does and inhibits us from doing the very best we can do as I say I think
this is gonna benefit you greatly whether it's in trying to achieve
something whether it's trying to progress your career whether it's in
trying to start a business or grow a business or whatever hope you find this
video useful if you do give it a thumbs up down below and you might be
interested in subscribing to my youtube channel
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