Creating Balance In Your Business
There is a nursery rhyme I am sure that most of you have heard. It's the one about two characters, Henry and Liza, speaking about a leaky bucket. The song describes a deadlock situation: Henry has got a leaky bucket and Liza tells him to repair it. In order to fix the leaky bucket, he needs straw. To cut the straw, he needs an axe. To sharpen the axe, he needs to wet the sharpening stone. To wet the stone, he needs water. But, the leaky bucket is his only way of getting water.
What does this have to do with building a Forever business? Well, it’s that long-term success is about balance. You have to strive for balance between the four core principles of Recruitment, Retention, Productivity and Development. If you recruit a lot of people but they do not go on to enjoy their experience with Forever over a long period of time you have gained very little. Just like Henry, you are pouring water into a leaking bucket and every time you look into the bucket expecting it to be full you are disappointed.
Part of growing your business is making sure you are preventing holes and repairing any that have sprung up. Here are the top three holes you may have in your business and how you can avoid them:
Inconsistent Follow-Up: Follow-up with your customers and new FBO’s often. Make sure they have what they need. Set a disciplined follow-up schedule for your customers that is written down and personalized. Do not rely on your memory, as it can be too inconsistent and stressful to try to remember who bought what and who needs what.
Unrealistic Expectations: Do not make promises that you are unwilling or unable to keep. It is better to lose a customer or a potential FBO than to over-promise and under-deliver. There are no short cuts in our business. We do not need to discount the price or set an unrealistic expectation on a person’s level of success.
Ineffective Communication: Make sure your group knows what is happening. Get them all the relevant and positive information you can. Make sure that you are communicating the message effectively. Delivering information takes strategic planning to avoid confusing and misleading anyone.
I am confident that if you work on just these three areas, in addition to maintaining the balance between all four core principals, it will have a positive and powerful impact on your business. Then, we will not be talking about leaky buckets, but where to find a bigger bucket because the one we have is overflowing!